The ABAC is a private sector body that advises the leaders of the Asia-Pacific Economic Cooperation on the business sector’s top priorities.
Among the Philippine representatives to the ABAC are local shakers and movers such as Jaime Augusto Zobel de Ayala, Tony Tan Caktiong, and Doris Ho. The Makati Business Club (MBC) is ABAC Philippines' secretariat.
WANG: E-commerce is already empowering SMEs everyday. It's not the future, it's here today.
WANG: E-commerce is as simple as doing an online checking out. Entrepreneurs should get started right away.
Next speaker is SHEILA MARCELO, the founder and CEO of care.com. She was one of the top 10 Women Entrepreneurs at Fortune's Most Powerful Women Summit and named one of the 10 Most Powerful Women in Boston Tech by the Boston Globe in 2012.
WANG: APEC can continue to help make E-commerce more accessible to everyone. I hope you can see my excitement to the future of E-commerce. It is the SMEs gateway to the future.
MARCELO is asking the audience questions: How many people like to save money? How many people want to save money for college? (It's not the sexiest thing in the world Marcelo admits), how many people like looking for jobs?
MARCELO: I was once asked are you in the 'pleasure' business or the 'pain' business. I'm in the 'pain' business. It's not sexy but it helps families.
MARCELO describes the difficulties she faced when she had a child while in college and a second unplanned pregnancy in grad school. She found it hard because she didn't have easy access to a care place for her father or her children while she worked.
MARCELO describes how personal backgrounds and passions launched her business. When she started care.com she also realised (while living in the US) that the biggest human source of caregiving comes from the Philippines.
MARCELO: How big is the business? In the US $240 billion is spent every year on care. If we even touch the surface of 1% it's 2.4%. That is a huge market. There are 140 million babies born every year and now we have an ageing population. The business is caring about people and it has big opportunities.
MARCELO: Some people ask me 'why weren't you here 20 years ago' most of it is because of technology. How many people were comfortable going online to use this service? Care was not ready then. We weren't as comfortable trying to find care for our loved ones.
MARCELO: We're in 18 countries now. Biggest online marketplace for care is US, Canada, Australia and across Europe
Next Speaker is WINSTON DAMARILLO is the Co-founder and Chief Executive Officer of Morphlabs. He was named one of the Young Global Leader Honorees in 2010 by the World Economic Forum. In 2011, he was selected as a Commissioner in the TechAmerica Foundation Commission. #APECSME
MARCELO: By definition entrepreneurs are innovators but innovation doesn't have to be an invention or out of the box. Sometimes what you have in the box can lead to re-invention.
DAMARILLO: I never had the good fortune of getting an education from the United States. I studied in De La Salle University.
DAMARILLO recounts how their family withstood challenges in their business. He said: if I can't work with Intel through my diploma, I will create my own software and bring it to them.
Damarillo admits he didn't think Filipinos could think outside of the box. He said there was a time when he described himself as Chinese instead of Filipino. But he says he has since been proven wrong and is investing in budding Filipino entrepreneurs.
DAMARILLO: since Dado's leadership, we've been spending time to think if Pinoys will do this. We put up Hack2Hatch and we're seeing something thats now a phenomenon that Filipinos are willing to do. I'm really excited about whats happening in the Philippines.
DAMARILLO: We have a unique capability of EQ. Filipinos are great in designing. If you combine that with tech, we have a great opportunity.
DAMARILLO:when you're creating software, 99% of your ingredient is human capital.