Filinvest and 'Plug and Play' form alliance to accelerate digital innovations in the Philippines

BANGKOK,May 28,2020 -- Leading Philippine conglomerate Filinvest Development Corporation and Plug and Play,considered the foremost global innovation platform,join forces to fuel innovations in property and real estate technology,as well as in adjacent sectors in energy and sustainability,mobility,protech,smart living and IoT. The partnership is the first initiative of its kind in the Philippines.

Josephine Gotianun-Yap,President and CEO of Filinvest Development Corporation,seals the partnership deal with Plug and Play’s Shawn Dehpanah,Executive Vice President & Head of Corporate Innovation for APAC (Photo taken in February 2020).

The two companies,through Filinvest's President & CEO,Josephine Gotianun-Yap,and Plug and Play's Executive Vice President & Head of Corporate Innovation for APAC,Shawn Dehpanah,have signed an agreement to collectively develop and promote new services for the real estate and smart living sectors through a collaboration program with global startups.

This synergy is anchored on a strong shared intent to digitally transform the real estate sector and evolve with customers' changing behaviors and preferences. Filinvest will work with Plug and Play to access pioneering tech-driven businesses across 20 verticals. According to Plug and Play's Shawn Dehpanah,"We are very proud of this partnership with the Filinvest group. They are an innovator in creating smart environs and spaces,and our goal is to establish the most innovative hub for Filinvest in engaging entrepreneurs and startups who are digitally transforming many areas of real estate and Smart Living pillars through Plug and Play's innovation platform. This is a first in the Philippines and the team from Filinvest is one of the most forward-thinking corporate groups we have worked with thus far,so we look forward to collaborating more closely on various initiatives."

InspiringinnovativeandpracticalsolutionsinthePhilippinerealestatesector,especially given the Covidsituation

Filinvest'smyriadofrealestateprojectsandecosystemsprovideanidealplatformfor introducingcutting-edge digital solutions. Filinvest's Mrs. Yap underlined the group's focus on innovation -- "We are committed to bringing in fresh,innovative ideas that benefit Filinvest's customers,employees,and partners,and solve real business challenges. For instance,I recently talked about how drone inspection of Filinvest projects and properties will allow us to perform checks of various locations while safeguarding the health of our people. This kind of innovative and practical solution,along with other non-contact tech-enabled interactions in our properties,will not only be helpful during this time when community quarantines are in place,but also in a post-Covid setting."

"We see that smart,digital technologies will drive the future of the property industry. We want to leverage tech as much as possible to transform our business,engage our customers and locators,as well as help make a lasting positive impact to the local communities," Mrs. Yap said.

"WearepleasedwithPlugandPlay'sunmatchedreachacrossseveralgeographiesand industries. Wearegeographyandindustry-agnosticwhen it comes to sourcing tech-driven models and solutions that can be applied here in our region. This partnership will allow us to mutually leverage Filinvest's property assets and wealth of experience in real estate,as well as Plug and Play's immense network of innovative technology startups across the globe," Mrs. Yap adds.

Pursuing digital capabilities to build new dreams

Filinvest's entry into tech-driven investments and businesses started at the conglomerate level last year,with the parent company rallying its top leaders to map out opportunities in their respective verticals to help transform them into digital businesses. In parallel,Filinvest had formalized its intent to invest in technology-driven opportunities by founding its very own digital foundry,f(dev),led by digital and fintech industry leader,Xavier Marzan.

Pronounced function-dev,the f(dev) brand represents the "input-to-output" role of Filinvest's digital ventures arm -- capitalizing on resources such as talent and partnerships as "input",and creating new tech-driven business models as "output".

Takingafteritsmothercompany'smissionofempoweringFilipinostoachievetheirnew dreams,f(dev) aims to harness the power of digital and disruptive technologies -- coupled with the infrastructure and capabilities of the Filinvest group and its partners -- to build ecosystems that create largescale impact among underserved markets in the Philippines and Southeast Asia.

About Filinvest Development Corp. (FDC)

Filinvest Development Corp. (FDC) is one of the leading,most stable and diversified conglomerates in the Philippines. Through its diverse businesses,FDC has established a strong reputation as a dependable partner in economic development. FDC currently has strategic holdings in key industries such as real estate development and leasing,banking and financial services,hotel and resort management,power generation and sugar.

FDC'saimisto grow this legacy of success by continuing to strengthen its position in the industries where it competes and embarking on new endeavors that will bolster its role in nation building.

Visit www.filinvestgroup.comfor information on the company.

About Plug and Play

Plug and Play is a global innovation platform. Headquartered in Silicon Valley,we have built accelerator programs,corporate innovation services and an in-house VC to make technological advancement progress faster than ever before. Since inception in 2006,our programs have expanded worldwide to include a presence in over 30 locations globally,giving startups the necessary resources to succeed in Silicon Valley and beyond. With over 10,000 startups and 400 official corporate partners,we have created the ultimate startup ecosystem in many industries. We provide active investments with 200 leading Silicon Valley VCs,and host more than 700 networking events peryear. Companiesinourcommunityhaveraisedover$7billionin funding,with successful portfolio exits including Danger,Dropbox,Lending Club and PayPal.

For more information,visit www.plugandplaytechcenter.com/thailand

About f(dev)

f(dev)is the digital venture builder & innovation factory of the Filinvest Development Corporation (FDC). Powered by FDC's considerable infrastructure and resources,it is one of the largest corporate-led digital venture foundries in the Philippines and in the Southeast Asia region. Team f(dev) combines deep digital industry expertise and rich startup-building experience to launch and invest in new technology-driven businesses & capabilities -- aimed at capturing underserved markets and transforming real-world sectors.For more information,visit https://www.teamf.dev/

Photo - https://photos.prnasia.com/prnh/20200527/2814513-1?lang=0