Cable News Network (CNN) Philippines’ business reality television show, “The Final Pitch” (TFP), has just launched its 8th season featuring all-tech startups being grilled by high-caliber judges from the country’s fintech industry.
John Janusczcak, President and CEO of UBX, the fastest growing fintech company in Southeast Asia in 2020; TFP mentor turned investor-judge Amor Maclang, the convenor of Digital Pilipinas and World Fintech Festival – Philippines, and the forthcoming Philippine Fintech Festival; and Rosemarie Bosch-Ong, SEVP and COO of Wilcon Depot, return as investor judges of the show.
Also joining the esteemed panel of investors are Wei Zhou, CEO of Coins.ph, the largest crypto wallet in the Philippines; Francis Plaza, co-founder and CEO of PayMongo, one of the leading fintech firms in the country; and Avin Ong, founder and CEO of Fredley Group of Companies that owns a consortium of over 250 restaurants and café branches in the Philippines.
John Aguilar, the show’s host, is also getting ready for what he called their “biggest season yet.”
What the investor judges are looking for
“We genuinely believe that technology is the great equalizer. I am so happy to be back, especially with this edition being the tech edition, and I think tech is the driver of financial inclusion. What we’re looking for is a ruthless product that fits the market. These are blockchain-powered, cryptocurrency, and DeFi (decentralized finance)-focused ideas. We are looking for people who are willing to do the hard work,” said John Januszczak.
On the other hand, new investor Wei Zhou said he is looking for startups that have creative solutions for real problems. “We see a whole new set of issues arise. New technologies like blockchain, immutable data, etc. These are the type of things that technology addresses. We want to work with a founding team that has a strong vision, clear goals, and a drive to get things done.”
Meanwhile, Amor Maclang cited the need for mass uptake of the tech industry in the country. “Digital Pilipinas, the largest private sector-led movement to tech up the Philippines, leads and starts movements in industries that are high-risk, high-value, and highly misunderstood. It is also highly regulated, so it’s only natural that as early as 2016, we have championed Web 3 and all of these nascent technologies – blockchain, crypto, fintech — with some of the leading organizations and governments in ASEAN. However, all of these technologies without mass uptake are virtually for naught.”
Perfect timing
The show is perfect timing as Philippine startups had just raised over US$1 billion in funding in 2021, which is a 179 percent increase from the previous year.
According to Philippine Venture Capital Report 2022, Philippine startups or innovation-driven companies involved in technology had reached a total capital of US$1.03 billion in 2021, which is triple the US$369 million it received in 2020.
The same report noted that fintech is the leading sector that drives the majority of deal activities in the country, with 77 percent and 65.77 percent of deal value and volumes, respectively. This was due mainly to the COVID-19 pandemic, which only helped highlight the importance of financial digitalization.
With the continuous growth of the Philippines’ startup ecosystem, the show hopes to help startups and also the Philippine economy. “The 8th season of the show is a very deliberate slant towards tech and we are looking forward to backing startups that will help our economy transition back to its pre-pandemic growth levels,” Aguilar said.
Aguilar added that season 8 is just the start of a much bigger “The Final Pitch: ASEAN,” which would soon include tech representatives from Singapore, Malaysia, Indonesia, Thailand, and Vietnam. It is targeted to be filmed and broadcast across Asia by 2023.
“We are aiming for the show to be the regional platform that will enable cross-border investment and cooperation across Southeast Asia. Proudly Filipino produced, for a global audience,” Aguilar said.
TFP premieres July 31, 2022, 8:30 p.m. on CNN Philippines, and is produced by Streetpark Productions Inc.