The National Development Company (NDC), a Philippine state-owned enterprise investing in diverse industries, has signed a series of agreements with Singapore-based venture capital firm Quest Ventures to bolster the vibrant emerging startup and innovation ecosystem in the country.

NDC said in a statement that the NDC and Quest Ventures have signed a Memorandum of Understanding to embark as knowledge partners to drive startup innovation and investments in the country.

It said the collaboration aims to leverage their combined expertise and resources as well as to strengthen linkages between government and private sector.

The NDC will leverage its newly established Philippine Innovation Hub (iHub) for this collaboration.

It is noted that iHub is also the headquarters of the Startup Venture Fund (SVF), the Philippine E-commerce Platform (PEP), and the Ph AI Research Center (PAIR).

“We are excited to join forces with Quest Ventures in our pursuit of innovation and startup industry growth,

“With their significant footprint in Singapore and across Asia, Quest Ventures brings valuable cross-border insights, best practices and extensive network that aligns with our key objectives in enhancing the local venture capital ecosystem and promoting sustainable investments,” said Anton Mauricio, General Manager of the NDC.

Other MOUs signed by the NDC included De La Salle – College of Saint Benilde, Embiggen Group, and Bizbaz.

Meanwhile, Quest Ventures Environment, Social & Governance Head April Ong Vaño said that the firm is delighted to join the NDC in these important efforts to transform the Philippines startup and innovation ecosystem by improving access to venture capital.

“We look forward to bringing our crowd favourites such as venture capital courses and accelerators to important hubs in The Philippines,

“We also look forward to implementing Philippine-specific programs to address new sectors of opportunities such as sustainability,” she added

Quest Ventures is a venture capital firm in Asia. Its portfolio of 100+ venture-backed companies operate in more than 150 cities across Asia, creating employment and advancement opportunities for more than 4,400 employees, while its Enterprise and ESG efforts directly impact thousands more.

The firm’s portfolio companies include industry leaders such as, Carousell, Carro, Glife, Hepmil/ PGAG, Oddle, Shopback, VulcanPost, Xfers, and Kraver’s Canteen.

Its enterprise innovation clients include Applied Materials, Coca-Cola, HP, Nissan, and Tencent.

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