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SUNDAY, MAY 14, 2017
Business
Ray S. Eñano, Editor / Roderick dela Cruz, Issue Editor business@manilastandard.net
BOI STARTS SEARCH FOR ‘UPLIFTING’ COMPANIES
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NEW MAKATI CAFÉ SERVES FOOD, FUNDING HERE is a new cafe in town, and it serves not only food and beverage, but also business ideas and funding support for startups.
Appropriately named Venture Capital Cafe, or VC Cafe, the new Makati hangout was established by Chinese investors who also plan to put up restaurants, hotels and resorts in Metro Manila and other parts of the country. “It is not an ordinary cafe,” says Frankie Meng, the 31-year-old general manager for the Philippines of Youth Hostel Leisure and Resort Corp., the Chinese company behind VC Cafe. “VC Cafe is a very unique concept. It combines office and cafe together. We can offer assistance to young people who want to put up IT startups,” he says in an interview at the café, a 300-square-meter space at the ground floor of Don Chua Lamko Building at the corner of L.P. Leviste Street and Dela Costa Street in Salcedo Village, Makati City. Meng, who has been living in the Philippines for six years now, says VC Café represents the first investment project of Youth Hostel Leisure, which is also building a new 150 to 200-room resort in Boracay Island that will be called Y Hotel. It will take the place of Red Coconut Beach Hotel at Station 2. VC Café, which employs a fulltime chef, offers a complete line of beverage from coffee, tea, soya milk, yogurt and fruit juice to cocktails. Its menu includes a fusion of Italian and Chinese cuisines, American-size burgers and desserts. It is open from 8 a.m. to midnight, or until the last customers leave, according to Meng. The café has 1980s as a theme, and there is an HOU logo at the entrance of the place, which in Chinese means 80s generation. “We encourage them to come here. We can offer food, drinks, coffee, soy milk, beverage. After your work, you want to relax,”says Meng. Paintings of anime and six-foot models of robots greet customers upon entering the café. “Interpersonal relationship has changed in the modern times. This is a place for everyone to make friends, communicate and exchange ideas. When you open communication with your friends, maybe new ideas will come out,” says Meng. Anne Myers, the marketing manager of Youth Hostel Leisure says
Meng also wants to make sure everything served in the café is healthy, thus the addition of unsweetened soya milk and yogurt. “We want to impose that everything we offer here is healthy at a price that is friendly and fair,” says Myers. More than a café and restaurant, VC Café wants to become a business incubation center where customers can meet, exchange ideas and hold seminars, workshops and events. It offers free high-speed Wi-Fi, which has already attracted a horde of IT professionals and college students in the area. The café has four conference rooms, two large TV sets, projectors, printers and other office equipment. “It is not your ordinary cafe. We want to offer very 80s anime vibe. You can chill here. But it is also multi-functional. Everyone can come here. They can enjoy the food and be creative at the same time. They can share ideas for startup businesses,” says Myers. “If you have a business, we will be happy to assist you in terms of human resource. This cafe will be an extension. We will discuss everything here, and hopefully close a business deal. We will be helping you fulfill your dream of having your own business or starting up your own business,” she says. Myers says there are also plans to hold painting competitions and art exhibits at VC Café to showcase the talent of Filipino youth. “We want to help passionate young people in the IT sector. We believe that everyone is good and has potential. We want to help trigger their passion for business. The future of the country depends on the young people. They will become the mainstream of this country soon. The Philippines offers good opportunities, economically,” says Meng. “The main function of this cafe is like business incubator, a business center. We hope to help customers who want to have their own business or startup. We are an like incubator. We can help you on how to turn your ideas into business. We can also help you in the areas of legal assistance, accounting, consulting, even funding,” he says. In return for funding support,
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VENTURE CAPITALIST.
Youth Hostel Leisure and Resort Corp. general manager for the Philippines Frankie Meng Youth Hostel Leisure is willing to take a stake in the startup. VC Cafe will then live up to its name as Venture Capital. On why the company is expanding in the Philippines, Meng says it is the vibrant Filipino culture that attracts more companies to invest in the country. “Filipinos are openminded and you have a mix of western and eastern cultures. The Philippines has a population of 0.1 billion [100 million] and Filipinos
like spending. That is a good factor,” he says. “Filipinos have mixed cultures, unlike Indonesia or Malaysia. Filipinos are open-minded and accept new things. This is a good thing. You can find western culture here as well as Chinese and Filipino cultures. Fifty years ago, the Philippines was the second richest country in Asia. Filipinos have a good chance to become rich again,” says Meng. Roderick T. dela Cruz
THE Board of Investments is in search for the country’s most efficient, socially-sound and economic-uplif ting industries and companies who will be recognized during the 2017 Guinogulan Awards. “As the country’s lead investments promotion agenc y, we will be recognizing businesses and firms that show excellence and significant contribution to the country’s economic growth through capital infusion, employment generation, introduction of new technologies and innovation, implementation of community relations, economic link ages, and adoption of inclusive business models in their operations,” said Trade Undersecretary and BoI managing head Ceferino Rodolfo. Inspired by the native Filipino word “Guinogulan” which literally means “lord of golds,” the brand of citation will recognize BoI-registered business enterprises that show excellence and significant contribution to economic growth through capital infusion, employment generation, introduction of new technologies and innovation, implementation of community relations, economic link ages and adoption of inclusive business models in their operations. Guinogulan is the best grade of native gold that weighed about 22 carats. Being of highest grade, these are made into precious jewelry and ornaments. It is energizing and powerful as it conducts heat and electricity. Gold is tenacious and in its purest form, withstands tarnishing even with the passage of time. “All these characteristics a re m e t a p h o r i c t o t h e awards as the recipients exemplify stabilit y, flexibility, and adaptability in the face of changing economic conditions. They are current symbols of prestige, commitment, and responsibility as they believe in the strength and potential of the Philippines to meet challenges of global competition,” Rodolfo said. In support of the Philippine global branding, the awards will also highlight the competitive advantages of doing business in the Philippines with the awardees as living proofs and testimonies to the viability and profitability of doing business in the country. Othel V. Campos
FILIPINOS’ DEMAND FOR BEAUTY PRODUCTS ON THE RISE
By Angelo Yanga and Jove Moya
DOMESTIC demand for beauty products is on the rise, amid rising income and evolving lifestyle of Filipinos. Trade exhibitors are so optimistic about the growth of the Philippine market for beauty products that they invited 200 brands from 24 countries to participate in PhilBeauty 2017, a beauty trade show that will be held on May 31 to June 2 at SMX Convention Center in Pasay City. “We found that suddenly there was a big increase in buyers from the Philippines,” said M. Gandhi, president of UBM Exhibitions Philippines Inc., the exhibit organizer. Philbeauty 2017, its third edition, has become an integral part of local beauty business environments
Chamber of Cosmetics Industry of the Philippines president Silliman Sy (left) and UBM Exhibitions Philippines Inc. president M. Gandhi
and is highly regarded as a platform to meet with serious trade buyers and distributors. The three-day exhibition is expected to attract 6,000 local, regional and international trade visitors. “We have 50 percent more exhibitors compared to two years ago. That’s a clear indication of the growth of the show,” said Gandhi. The exhibit will bring together local and world’s leading suppliers from color cosmetics, skin care, hair, nail, make-up, spa and wellness, personal care and toiletries, perfumery and fragrances to beauty salon equipment, packaging and machinery, raw materials and natural health supplements, formulators and R&D to showcase the most diverse range of innovative beauty products, services and technologies. “When the market grows, initially, we are
importing finished products, but then these companies will be going to look for local partners,” said Gandhi, citing opportunities for business deals during the three-day event. Chamber of Cosmetics Industry of the Philippines president Silliman Sy said teaming up with UBM has helped them organize the exhibit. Philbeauty 2017 is considered a good opportunity for business networking between local and international industries expanding channels so people will look for Filipino products, he said. “It’s very expensive for a small and medium enterprise to be going out of the Philippines to explore their opportunities to grow their business. This one opportunity is coming to us in the Philippines, so we are very thankful,” said Sy, who is also an executive of Ever Bilena.