MANILA, PHILIPPINES – Impact Pioneers Network, a first-of-its-kind angel investing network by Villgro Philippines and xchange in the country, recently gathered local climate startups and investors during Philippine Startup Week 2024 to address environmental challenges through impact investing, and secure investments and partnerships.
With the focus on urgent need for climate finance, the Network organized a pitch showcase called Green Tank: Climate Innovation Challenge featuring startups driving climate adaptation and resilience such as BillionBricks, Altilium Green Energy, Magwayen Organics Inc. (MAGWAI), Verta Bioenergy, and Lycan Motorcycles Inc.
The Philippines’ World Risk Index score rose to 46.91 this year from 46.86 last year, maintaining its status as one of the most disaster-prone countries for the 16th consecutive year due to extreme natural events like typhoons, earthquakes, and droughts.
“Now is the opportune time to accelerate climate action,” said Priya Thachadi, co-founder and CEO of Villgro Philippines. “But we need to urgently support climate enterprises to scale their solutions. Impact investing enables market-driven and entrepreneurial innovation through incubation and strategic investments, helping them come up with solutions fit for the country’s needs and challenges, and secure a brighter future for generations.”
Mission-driven and innovative climate solutions
The Philippines is striving to grow innovative climate startups. The Network creates platforms for these enterprises through pitch showcases that demonstrate their viability in terms of impact, profitability, growth plans and sustainability.
Magwayen Organics Inc. (MAGWAI) won the Green Tank: Climate Innovation Challenge for its compelling pitch demonstrating the potential of their reef-safe sunscreen to protect ocean reefs, aiming to inspire a new generation of eco-conscious consumers that contribute to the preservation of marine biodiversity.
During the Green Tank: Climate Innovation Challenge at the Philippine Startup Week 2024, investors emphasized that mission-driven climate enterprises are more likely to scale and deliver tangible environmental benefits to local communities.
Investors present in the event include Maoi Arroyo of Ignite Impact Fund, James Spurway of Indochina Consulting Pte. Ltd., Edmund Solilapsi of ARQ Capital, Andy Coscolluela of Negros Women for Tomorrow Foundation, and Leah Embuido of Foundation for a Sustainable Society. Through a discussion moderated by Love Gregorie Moral-Perez, director of xchange Philippines, they shared insights into what drives investment decisions and emphasized that mission-driven climate enterprises are more likely to scale and deliver tangible environmental benefits to local communities.
“I look for entrepreneurs who are attached to the mission, not the business model”, said Maoi Arroyo, co-founder of Ignite Impact Fund, an early-stage venture capital fund. James Spurway, co-founder of Indocina Consulting Pte. Ltd., a group providing corporate finance, investment banking and startup services in Southeast Asia, challenged climate entrepreneurs to maintain a bold vision while keeping their feet firmly on the ground.
The investors expressed interest and made 9 offers during the event, paving the way for due diligence and potential investments.
The Impact Pioneers Network and Villgro Philippines will continue supporting investors and startups, aligning goals and finalizing opportunities. They work with partners in the Philippines and Southeast Asia to catalyze private capital for impact-driven enterprises.
