THE Uniquecorn Strategies’ 2024 Philippine Startups Outlook said that Filipino startups have started to shift from pushing for the expansion of their businesses to gaining more profit this year.

According to the Gobi-Core Philippine Fund, this is driven by the 40-percent drop in investments in local startups last year.

The 2024 Philippine Startups Outlook said that 75 percent of the startup founders had prioritized the profitability over growth this year.

They said that founders are aiming to be financially secured this year.

“While the immediate challenges in funding and valuation are evident, the founders' focus on profitability and expansion indicates a proactive approach to navigating the complexities of the current economic climate,” Uniquecorn Strategies founder and chief executive officer Dean Bernales said.

"The pandemic's lingering economic impact continues to shape strategic decisions, with founders navigating a tightrope between growth aspirations and the harsh realities of funding. As 2024 unfolds, the Filipino startup ecosystem shows signs of balancing immediate pressures with long-term strategic goals,” Bernales added.