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MANILA, Philippines — The FAST Logistics group has opened the country’s first venture studio that seeks to incubate and create innovations that would reduce logistics costs of businesses nationwide.
The group unveiled the Revv-EVODINE Venture Studio that is expected to create value innovation and tackle interoperability challenges in Philippine logistics and supply chain.
The studio will leverage artificial intelligence for forecasting, automation, digital freight matching and other logistical operations and activities that will enhance businesses’ efficiencies and reduce their logistics costs, according to the company.
“At FAST, we are committed to pushing the boundaries of what’s possible in Philippine logistics,” FAST CEO for logistics Manuel Onrejas Jr. said.
“Through Revv-EVODINE, we are creating a platform where promising ideas evolve into real-world solutions and scalable ventures, guided by an evidence-based, outcome-driven approach,” Onrejas added.
Onrejas said the venture studio will capitalize on FAST’s over 50 years of industry experience, extensive warehouse network and transport capabilities and best-in-class tech infrastructure in providing real-world testing environments for validating and refining solutions.
“There are many pain points in logistics, from fragmented systems to last-mile inefficiencies. With Revv-EVODINE, we aim to solve the most pressing challenges that will deliver the greatest impact on customers, the market, and the industry,” he said.
“The rapid evolution of the logistics sector makes this the perfect time to innovate,” he added.
FAST Group president William Chiongbian II said the venture studio will serve as a “launchpad” for the country’s promising innovators and entrepreneurs who can make an impact in the logistics sector.
“This means access to mentorship and real-world sandbox environments to ensure that promising solutions move from concept to execution,” Chiongbian said.
“Ultimately, our aspiration is that the ideas we incubate here do not remain just ideas, but become scalable, transformative solutions for our countrymen,” Chiongbian added.
Revv-EVODINE’s structured incubation program follows a rigorous evaluation and development process to identify high-potential ideas and transform them into viable, scalable solutions, according to the company.
FAST Logistics added that the studio aims to launch four scalable ventures that will drive significant efficiency savings across the industry.
“Revv-EVODINE ensures that startups not only develop innovative solutions but also align them with industry needs and market demands, ensuring they are market-ready and capable of driving measurable impact in the logistics sector,” said Mack Comandante, president and CEO of the venture studio.
