Even a recession isn’t enough to bring the Philippine startup ecosystem down. In 2022, Philippine startups raised a total of $1.1 billion, marking the second time the Philippine startup ecosystem has raised over $1 billion dollars, according to Foxmont Capital Partners’ 2023 Startup Report. In the last 12 years, the local ecosystem has grown exponentially and total deal value per year surged by a whopping 27x in the last 12 years.
