NDC announces new Chairperson of the Startup Venture Fund (SVF) Investment Committee (IC)

Assistant General Manager (AGM) Alewijn Ong of the National Development Company’s (NDC) Business Development Group (BDG) has now been designated as the new Chairperson of the Startup Venture Fund (SVF) Investment Committee. With this key change in management roles (effective March 14, 2024), NDC General Manager Anton Mauricio now steps down as the SVF-IC Chair, in order to focus on other areas of the business.

With his new role, AGM Ong shall be responsible in facilitating the orderly conduct of all Investment Committee meetings. He will also be handling the evaluation and approval processes of investee companies under the SVF. This is also expected to help free-up and accelerate the approval process of co-investments for start-ups.

Currently, AGM Ong also leads the BDG in evaluating new and alternative properties as potential revenue sources to maximize returns to NDC. This change in management was envisioned by GM Mauricio to further improve NDC’s ability to fully evaluate and recommend investments in start-ups to the NDC Board.

Improving investment agility and processes within NDC falls under the able leadership of DTI Secretary Fred Pascual; aligned with the administration of President Marcos Jr.’s socio-economic agenda, the Philippine Development Plan, and the Strategic Investment Promotions Plan.

About the Startup Venture Fund:

As one of the incentives granted by the Innovative Startup Act (ISA), SVF utilizes a co-investment model with suitable investors in giving equity financing to competent and promising startups. Moreover, co-investment partners (CIPs) and future tech giants are constantly being located and assessed by the SVF Investment Committee led by NDC with government and technical professionals from the Department of Science and Technology (DOST), the Department of Information and Communications Technology (DICT), the Department of Finance (DOF), and the private sector.

About Alewijn Ong:

Ong began his career in government service in 2013 and served as the Deputy Administrator for Operations of the Freeport Area of Bataan. He oversaw 7 divisions involved in utilities infrastructure, environment regulation, logistics and trade, community and labor services. Quite recently, he moved to the National Development Company as the Assistant General Manager for Business Development where he handles the Philippine Startup Venture Fund along with several projects such as One DTI initiative, NDC Green Industrial Estate, and the NDC Cold Chain for food security, among others.

He obtained his degree in Economics from the Ateneo De Manila University in 1999 and earned his Master’s in Business Administration in 2015 from the same institution. He is currently completing his research work to earn his Doctorate degree from the School of Urban and Regional Planning of the University of the Philippines.

He was the lead author for a manuscript that won Best Paper in the 2021 Asia Future Conference held in Taipei, Taiwan. During his free time, Alewijn enjoys being a numismatic hobbyist and gives back to the community by teaching college students.

About the National Development Company:

NDC, the government’s investment arm, is the Philippine’s leading state-owned enterprise - investing in diverse industries, serving as an effective catalyst for inclusive growth.

As mandated in its Revised Charter (PD 1648) NDC, may on its own, or in joint venture with the private sector, undertake vital projects when necessary or when the private sector is not willing or able to undertake such projects due to high risks or to lack of funds/resources.

The NDC, as an attached agency of the Department of Trade and Industry, continues to pursue its investment mandate under the able leadership of DTI Secretary Alfredo E. Pascual – aligned with other government agencies to the vision of a more prosperous Philippines as envisioned by President Ferdinand Marcos Jr.

More information about NDC is available at https://www.ndc.gov.ph/