"I believe you can make a ’Cebu Valley’. This is something that Cebu should take very seriously," suggested European Chamber of Commerce in the Philippines (ECCP) executive vice president Henry Schumacher.

What the talents should do is just to find an "angel" or venture capitalists to help them fund their creations and innovations. Like other observers, Schumacher expressed strong optimism that Cebu is capable of making its own version of Silicon Valley, where talents can start their own businesses or hone their techno-preneurial potentials, rather than wait for employers to hire them.

Cebu had been attempting to follow the example of "Silicon Valley", banking on the availability of technology and innovation geniuses. But this "ambition" has lost its momentum along the way.

Instead, talents now are wandering, seeking for income-generating livelihood, most of them are employed in voice outsourcing companies, said Cebu Educational Development Foundation for Information Technology (Cedfit) president Gregg Victor Gabison.

Based on Cedfit record, out of an average 3,500 graduates of software developers and programmers every year, only 30 percent to 40 percent land to the right field of expertise.

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These are graduates of BS Information Technology, and related fields, Gabison said.

However, if Cebu aims to follow the footsteps of Silicon Valley, it has to provide the right eco-system for talents to flourish under the techno-preneurship environment.

According to international start-up expert Bowei Gai, the Philippines needs to develop its potential as melting pot of start-up as he noted rich supply of talents here.

If the eco-system is well organized, such as support from government, and strong start-up community the country will become a magnet for venture capitalists all over the world.

Gai, who is a serial entrepreneur from Silicon Valley who traveled to 29 countries and 36 cities said that money is not a problem for start-up geeks, as venture capitalists will eventually follow, if good ideas are well developed.

Recently, Tholons principal Vikrant Khanna, called the attention of the Philippines, including Cebu to make the development of start-up and technopreneur community as one of its top priorities. 

Source: The Freeman by Philippine Star