Companies in the country are battling it out in the innovation business. This was confirmed during the recently concluded National Export Congress 2017. The event reaffirms what other countries say that the Philippines can become the Innovation Hub in the Asian Region.
Research and Development (R&D) by companies focused on products, human resource and digital marketing were featured in the annual event. An example of this product innovation, Chemrez Technologies, Inc. developed its virgin coconut oil that stays in its liquid form even when the temperature goes down to 5 degrees celcius. The company was also able to remove the taste and smell of the coconut from their products. By employing extensive R&D to their coconut oil, they were able to create a new category for their product that was of higher value. By introducing innovation in their coconut oil, they have created new markets and new consumers for products that would otherwise be limited by its physical form. As an innovative company, Chemrez has to keep on developing new products that are not only ahead of competition but products that will pioneer the markets. –Grace T. Mirasol
Managing Director, Dean A. Lao Jr. of Chemrez Technologies, Inc. (left) and Chief Technology Innovation Officer, Delfin Jay M. Sabido IX (right) of Stratpoint Technologies Inc. share their innovations during the National Export Congress 2017 Panel Discussion.