A Systematic Evaluation of the Philippine Innovation Ecosystem

While innovative ideas are the basis for most startup companies, a prolific and supportive innovation ecosystem is needed for these ideas to come to fruition. A systematic method to properly determine and evaluate the strengths and weaknesses of a particular innovation ecosystem must be achieved. This research study presents a systematic evaluation of the Philippines' innovation ecosystem based on Oxentia's guide for evaluating a typical entrepreneurial ecosystem known as “The Elements Review”. This guide lists each element to be evaluated and grouped it into four areas: 1) Universities, 2) Government, 3) Businesses, and 4) the Third Sector. The original “Elements Review” used a color descriptor system to visualize the state of the innovation ecosystem. This research study proposed a number rating system to replace the color descriptor system. Each element was given a rating between 1 to 3. A rating of “1” is the lowest performance, while a rating of “3” is the highest performance. The average scores for each element area are Universities/RTOs = 2.33, Government = 2.4, Businesses/Industry = 2.5, and the Third Sector = 1.4.