Filinvest launches collaboration program with startups

Gotianun-led Filinvest Group has launched a program that connects its companies to various startups for their digital transformation.

The conglomerate through f(dev), its latest corporate innovation and ventures arm, put up Filinvent.io, an open innovation program that aims for greater collaboration between its 60 operating companies and technology startups.

“Our goal with Filinvent.io is to unlock innovations for companies through different forms of engagements with tech startups — whether that’s through product collaborations, operating partnerships, venture funding, and strategic alliances, among others,” f(dev) Head Xavier G. Marzan said.

The group has been investing in and raising new technology-driven ventures through f(dev). Its various segments have also been placing their bets on digital infrastructure and green technologies.

“We believe that having an active engagement strategy with the digital startup ecosystem — both locally and globally — is an important capability of large organizations moving forward,” said Josephine Gotianun-Yap, Filinvest Development Corp. (FDC) president and chief executive officer.

f(dev) is building a network of startup accelerators, venture capital firms, and innovation platforms.

Despite the ongoing pandemic, the business continues to source and engage with expanding startups.

“Our immediate priority is to work with Series B & C startups in specific verticals but generally look at a broad range of startups on an ongoing basis,” Mr. Marzan said.

Recently, property developer Filinvest Land, Inc. teamed up with Visoplan, a German tech startup, for a product development initiative. The latter developed Building Information Modelling (BIM), a cloud-based platform which centralizes construction planning.

Filinvest’s banking arm EastWest Bank is improving its banking experience with the aid of Brankas, an Indonesia-based financial technology startup.

The conglomerate sets its eyes for more startup partnerships in different business areas in the coming months.

On Friday, shares in FDC inched down 0.34% to close at P8.72 each, while those of Filinvest Land rose 1.09% to P0.93 apiece. — Adam J. Ang

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Article and Photo originally posted by Business World last October 2, 2020 6:13pm.