Here are 4 cues the Philippines can take from Singapore to build a thriving startup ecosystem

“I have to admit, the government has lagged behind in its understanding and support for the [startup] sector. That’s definitely something we’d like to change going forward,” Philippine trade secretary Gregory Domingo said during his opening remarks at the two-day Slingshot Manila last week, an event of the 2015 Asia Pacific Economic Cooperation focused on startups.

That was perhaps the best way to open the event because further into it the Philippine government announced a partnership with accelerator IdeaSpace and the academe to build a national innovation center.

According to the government, the innovation center will have branches near a couple of universities to help develop an entrepreneurial mindset among young Filipinos and address their growing interest in starting businesses. The center will also tap into the universities’ wellspring of engineering and tech talent. Ultimately, the goal is to foster innovation and grow the country’s startup ecosystem.

The Philippines says it’s taking cues from neighboring country Singapore, which built Asia’s famous innovation district Block 71.

By building its own version of Block 71, the country is hoping that one day, local startups will reach higher valuations – maybe even produce a unicorn or two, speculates Domingo.

The question in a lot of people’s minds: will the Philippines’ ambitious plan take off? After all, growing the startup ecosystem will take more than just buildings, internet cables, and equipment. Soft infrastructure such as friendly business laws and a conducive investment climate are key elements.

IdeaSpace president and co-founder Earl Valencia told Tech in Asia that the center is not the be-all and end-all of what they have in mind for the startup sector. “It’s just the start. This is the point where we can all gather to work together and think about our policies.”

Indeed, the Philippines has a long way to go and there are many lessons to learn from Singapore. We asked some of the thought leaders in the tech scene what these lessons are and summarized their answers below.

1. Doing business must be easy

“The best way for the Philippine startup ecosystem to flourish is not through the so-called innovation center – that’s just developing real estate. It’s through the elimination of business formation friction,” says Eric Manlunas, co-founder and managing partner of Wavemaker Partners, a California-based venture capital firm. Wavemaker Partners also owns Wavemaker Labs, a technology incubator certified by the Singaporean government.

Manlunas points to the ease of setting up a startup in Singapore, considered one of the most efficient countries in the world in this respect. Procedures are free of red tape and corruption. And it takes only a few hours to incorporate.

“To spur business formation, entrepreneurs in the Philippines need to be able to form their entities within a day versus several months,” he adds.

Minette Navarrete, president of Philippine investment firm Kickstart Ventures, agrees. “Singapore’s ease of doing business is very good. You can register a company in three hours. It takes a lot longer here.”