UNAWA takes center stage as sole regtech firm in She Loves Tech Philippines 2020

UNAWA takes center stage as sole regtech firm in She Loves Tech Philippines 2020

It represented the regtech industry and its growing potential in the country

 

 

Regtech startup UNAWA was one of the 10 finalists in She Loves Tech Philippines 2020, the local unit of the world’s largest startup competition focused on women and technology. UNAWA joined nine other Philippine startups that were also led by female founders and executives. 

 

“The UNAWA team is honored to have been selected as a finalist for She Loves Tech 2020, and we are proud to represent and pioneer the country’s emerging regtech sector,” said Atty. Mona Dimalanta, CEO of UNAWA. “As a regtech startup primarily led by female Filipino professionals, UNAWA understands and is mindful of its responsibility to deliver innovative solutions to the Philippine market that make ease of doing business something that can truly be at our fingertips.”

 

 

The pitch competition was held online on October 8, 2020 in partnership with QBO Innovation Hub, the country’s first public-private partnership focused on the startup community. Established in 2015, She Loves Tech aims to put the spotlight on women-led and women-focused startups around the world, highlighting the importance of female innovators populating the startup and technology industries.  

 

“We do all of this because we believe that the combination of women and technology is key to solving the world’s greatest challenges,” said Rhea See, Co-Founder of She Loves Tech. “Not having women on the table, not having women in this industry, is depriving us from some of the most innovative technologies that can help us move the needle.”

 

Fintech startup SukiPlus won the competition, and it will represent the Philippines in the She Loves Tech global finals. Completing the podium are healthtech firm reach52 and e-commerce platform GrocerGenie.

 

Digital Transaction Hub

Watch Full Event Here!

 

In UNAWA’s first-ever pitch, the startup presented its Digital Transaction Hub, a suite of regtech solutions that helps businesses participate and succeed in the digital economy. Created in response to the challenges that businesses continue to face in the pandemic, UNAWA equips micro-, small-, and medium-sized enterprises (MSMEs) with the tools they need to quickly overcome these challenges and create more value for their businesses. 

 

“In a world that has rapidly gone digital, transforming digital transactions creates great value for small businesses and entire economies alike,” said Niña Terol, Chief Marketing Officer of UNAWA, in the She Loves Tech 2020 pitch. “It generates up to 80% cost savings per company, gets business done 21 times faster than paper documents, and empowers MSMEs to be part of the US$300-billion digital economy.”

 

The UNAWA Digital Transaction Hub includes SafeForm, which enables businesses to digitize their analog forms and create automated workflows; SignSecure, an e-signature service helping entrepreneurs close digital contracts and agreements more quickly; and SignSecure RNotary, which gives clients access to secure and efficient remote notarization services. 

 

“Through the UNAWA Digital Transaction Hub, we champion She Loves Tech’s mission of creating impactful innovations through female-led startups,” added Atty. Dimalanta. “As we continue to roll out our solutions, UNAWA is keen on empowering more of its fellow businesses to not only survive, but also thrive in the digital economy.”


We hope this article was helpful. To get more information, insight, and inspiration,check out the other articles in UNAWA Explainer for more tips on how your business can navigate the new normal.


Checklist of Requirements for Registering a Company With the SEC

Congratulations on taking the first step to building your startup! You have a long journey ahead of you, and it starts with getting your company registered with the Securities and Exchange Commission (SEC). 

The incorporation process of the Philippines involves a lot of documents and requirements, so we’d like to make it easier for you by creating a checklist of what you’ll need to prepare before you go to the SEC. We’ve also included the necessary links to formats of each requirement that you can fill up for your own company.

Here are the five documents you’ll need to prepare when incorporating with the SEC:

1. Articles of Incorporation

The Articles of Incorporation details everything there is to know about the company’s backbone. It contains basic information about the company, details about its founders and incorporators, as well as an overview of its shareholding structure. 

The format for the Articles of Incorporation can be found in Section 14 of the Revised Corporation Code. Your Articles of Incorporation must be notarized when submitted.

 

2. By-laws

A company’s by-laws detail the rules that govern the corporation, and are applied after the business has been incorporated. 

There is no specific format used to write the company’s by-laws, as these will depend on what type of company you’re incorporating. However, the SEC does list what the by-laws must contain in Section 46 of the Revised Corporation Code, which are:

  • The time, place and manner of calling and conducting regular or special meetings of the directors 
  • The time and manner of calling and conducting regular or special meetings and mode of notifying the stockholders thereof
  • The required quorum and the manner of voting in meetings of stockholders 
  • The modes by which a stockholder or director may attend meetings and cast their votes
  • The form for proxies of stockholders and the manner of voting them
  • The directors’ qualifications, duties and responsibilities, as well as the guidelines for setting the compensation of directors and officers
  • The time for holding the annual election of directors and the mode or manner of giving notice thereof
  • The manner of election or appointment and the term of office of all officers other than directors 
  • The penalties for violation of the by-laws
  • The manner of issuing stock certificates
  • Such other matters as may be necessary for the proper or convenient transaction of its corporate affairs for the promotion of good governance and anti-graft and corruption measures

 

3. Name Verification Slip

You’ll need to have a verified company name by the time you start the incorporation process. Unlike the rest of the requirements, this can be done online through the SEC’s Company Registration System, which uses an online verification tool. However, you’ll still need to validate your company name with the SEC’s Name Verification Unit after you complete the online process. 

There are several things you need to consider when choosing a name for your company. For a complete company naming guide, click here.

 

4. Treasurer’s Affidavit

The Treasurer’s Affidavit certifies that the company has met its capital requirements. More specifically, this document tells the SEC that the company’s paid-up capital has been paid to the Treasurer, who will oversee these funds for the company. Just like the Articles of Incorporation, this document must be notarized when submitted.

You can find a format for the treasurer’s affidavit by clicking here. Note that the formats in this document are no longer updated; for example, under the Revised Corporation Code, there is no longer a minimum subscription and paid-up capital during incorporation. So make sure to edit the format accordingly before having it notarized.

If you want to learn more about paid-up capital and the other types of capital that your company will deal with, check out our guide on capital structure.

 

5. Clearance from Other Government Agencies (for some companies)

Certain types of businesses require endorsements from other government agencies before they can register with the SEC. For example, medical clinics will need an endorsement from the Department of Health, while financial institutions will need to be certified by the Bangko Sentral ng Pilipinas. A full list of the types of businesses that need additional endorsements can be found in this document

In addition, some businesses will also need to retrieve clearances from other SEC departments. These businesses are also listed in the document linked above.

 

Ready to incorporate?

If you’ve completed, signed, and notarized all of the documents mentioned above, then you’re ready to move on to the next step, which is registering your company with the SEC! Check out this article for a step-by-step guide on what you need to do, how much you’ll need to pay, and how long the process will normally take.

We hope this article was helpful. If you have any further questions, click here to chat with UNA, and check out the other articles of Unawa Explainer for more information on company incorporation.