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Philippines News Agency

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The Philippines News Agency

The Philippines News Agency (PNA) is a web-based newswire service of the Philippine government. The PNA Headquarters are housed at the 2nd floor of the PIA building along Visayas Avenue, Quezon City. PNA's website address is

It has been 35 years since PNA was launched in an era when newswire operations relied mainly on teletype machines and typewriters. PNA has steadily paced the highly competitive and changing arena of Philippine journalism; it is now slowly but surely coming to par with the challenges posed by the globalization of media communications. This has deeply shaped modern journalism and the news media organizations that have been instrumental in creating the very conditions that made globalization a reality.

PNA has evolved today as an Internet-based news service agency that caters to the global demand for news and information to its subscribers, readers and a host of other clients. PNA's mission is spelled out clearly: to provide the government, the Presidency, the public, as well as its media and non-media clients, both local and foreign based, sober, factual, impartial and objective news and information. PNA provides news 24/7, including photos of major events, feature stories, sports news and events, local and global opinions, general information, as well as global news and feature stories. PNA employs about a hundred journalists and stringers across the country, with several foreign-based correspondents.

PNA beat reporters and stringers are deployed practically in every government office and agency, including the main offices and camps of police and security forces, to provide news 24/7 for local, regional and global subscribers and readers. PNA likewise maintains active news exchanges with news agencies of ASEAN member-countries and the Organization of Asia-Pacific News Agencies (OANA).

Philippines News Agency
352-43-28, 352-43-34, 352-43-35
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Silicon Valley's 'Geeks on a Plane' looking for investment opportunities in PHL. (PNA)

Silicon Valley's 'Geeks on a Plane' looking for investment opportunities in PHL. (PNA)

Global tech investor dispels myths on PHL startup ecosystem

MANILA, (PNA) -- While the Philippine startup ecosystem might be considered young compared to its neighbors in Southeast Asia, a global tech investor on Thursday said that contrary to popular belief, entrepreneurial talent around the world is actually on a level playing field regardless of how long it has been in the industry.

According to founding partner of seed fund and startup accelerator program 500 Startups, Dave McClure, local entrepreneurs may begin as ignorant as other entrepreneurs but are just as accessible to information on the web.

Recently cited as the most active capital fund in Silicon Valley by the Wall Street Journal, 500 Startups is at present raising USD 100 million (P4.3 billion) for its third flagship fund to possibly invest in startups around the world, including the Philippines.

“There’s really not much of a difference from an entrepreneur that grows up in Cleveland, Ohio than one that grows up in a small town in Manila,” McClure said during a press conference in Makati City.

McClure was speaking before media and a group of investors, venture capitalists, startup founders and entrepreneurs from Silicon Valley, all of who are part of the “Geeks on a Plane” (GOAP) tour in Manila, which is a four-day event which began last July 23 and will run until July 26 to discuss practices on innovation ecosystems.

Silicon Valley is home to many of the world's largest technology corporations and thousands of small startups. It is also a nickname for the South Bay portion of the San Francisco Bay Area in Northern California, United States.

“I don’t think it’s because the entrepreneurial talent on the ground is any less educated, any less thoughtful about types of things going on,” McClure said.

“I want to destroy that myth because that’s what prevents investors from putting money in the market. They (investors) think that their entrepreneurs are less capable than Silicon Valley, which is not true,” he added.

The global tech investor, meanwhile, challenged local investors to stop waiting for local entrepreneurial ecosystems to get better and take a risks since the ideas were already “great” if not “good enough.”

“Investor ecosystem is the challenge and challenge yourself (entrepreneurs) and them to put money in the ecosystem and prove that you are worth very much as Silicon Valley,” McClure said, addressing local entrepreneurs.

McClure said that through the GOAP tour, Silicon Valley investors and founders will take time to learn more about Filipino people and the region to get a better picture of the country’s startup ecosystem.

At the same time, they will look for investment opportunities. Currently, Manila-based startups TwitMusic, Payroll Hero, and ZipMatch were accelerated by 500 Startups and the company is looking at other potential ones.

“I’d like to see teams that do have the potential to grow. We’re looking for companies that have a functional product and a modest amount of customer usage and revenue,” McClure said.

The GOAP tour is hosted by the country’s telecommunication (telco) leader, Smart Communications, Inc. (Smart) alongside technology incubator and accelerator IdeaSpace Foundation Inc., Voyager Innovations Inc. (Voyager) and the Smart Developer Network, Smart Bro.

It is also supported by the United States Agency for International Development (USAID) through its Science, Technology, Research, and Innovation for Development (STRIDE) Program. (PNA)