Number of Philippine Tech Companies Triples in the Past Decade, According to Study

Research by Endeavor Insight maps the Philippine tech sector and reveals the future of the entrepreneurial ecosystem.

The number of Philippine tech companies has tripled in the past decade, according to a study by Endeavor Insight. This dramatic growth illustrates the strength of the industry with the number of tech companies growing from nearly 100 in 2014 to more than 300 in 2024. This growth was driven by fintech and e-commerce companies, followed by businesses involved in artificial intelligence, data analytics, education and blockchain. 

The Endeavor Insight report on Philippine tech companies, entitled “Mapping the Philippine Tech Sector: An Analysis of the
Entrepreneurship Community,” aimed to study the entrepreneurship ecosystem of the local tech sector. The research company gathered data on more than 300 companies and their founders, including over 80 interviews with tech entrepreneurs. Endeavor Insight is the research arm of Endeavor, a company that supports entrepreneurship around the globe.

A Robust Entrepreneurial Ecosystem Among Philippine Tech Companies

The Endeavor Insight study describes the entrepreneurial ecosystem of Philippine tech companies as “robust with mentors, angel investors, and serial founders.” Through network mapping, the study also notes that this growth comes from a handful of successful and interconnected companies, such as Coins.ph and Kalibrr.

This top tier of Philippine tech companies was supported by companies like Endeavor, as well as other companies that finance and support entrepreneurs such as Kickstart Ventures, Manila Angels Network, and QBO.

Female-Led Companies Are Increasing

The report further notes that sustained growth among Philippine tech companies is possible, particularly through support of female-led companies.

Nearly a third of tech companies in the Philippines have at least one female founder, and this has been rising through the years. The rate of female entrepreneurship has grown from 28 percent of companies founded between 2015 and 2019, to 34 percent of companies founded between 2020 and 2024. 

Scaled Companies Face Unique Challenges

By mapping tech companies in the Philippines, the Endeavor report shows how founder-to-founder support has been instrumental in scaling companies to 50 or more employees. Furthermore, these businesses that rose rapidly to 50 or more employees were found to drive the vast majority of job creation.

For these “scaled companies,” their founders have cited access to capital and the lack of specialized technical talent as their top challenges. Non-scaled companies (less than 50 employees) cited government policies and regulations as their main challenges. Both scaled and non-scaled businesses faced challenges finding qualified managerial talent.

About Endeavor Philippines

Endeavor was launched in the Philippines in 2015. Since its founding, it has supported the majority of the most influential companies in the tech sector and encouraged entrepreneurs to then pay it forward to other founders.