Venture Capital in Asia? Think Philippines

It's hardly the new China, but Manila's Ayala-led science parkin a country culturally close to the U.S.could appeal to U.S.investors

If you're an investor thinking of putting some money into research and development in Asia, you're probably going to look at China and India, maybe Vietnam. It's unlikely you're considering the Philippines. The country is known for its call centers, and the semiconductors which make up 70% of its exports, thanks to factories like Intel's (INTC) semiconductor packaging plant. But the Philippines isn't exactly a hotbed of innovative startups and entrepreneurs.

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