Dennis Velasco: The Reality of the Trust Gap and Building a Tech Startup in Southeast Asia - E692

May 4

"When you don't have payroll for yourself except for enough gas money to get home, are you gonna continue? You really have to be honest with yourself first. The best information to help you know if you were born to do this... is literally having one-on-one, deep friendship conversations with your customer. Because without them, there's no tomorrow." - Dennis Velasco, Founder of Prosperna

"There's a significant trust factor gap here in the Philippines. You see providers fly in and fly out, think that the Philippines is easy, and in nine months they pack up their bags. You gotta be committed and be there regardless of the money... I am so committed to solving your problem and goal that I'm gonna help you until the end." - Dennis Velasco, Founder of Prosperna

"The Philippines is a great center and hub to build, deliver, and service globally. If we can stand up, meet, and exceed the expectations of Western markets, that would directly benefit Philippine companies." - Dennis Velasco, Founder of Prosperna

Dennis Velasco, Founder of Prosperna, joins Jeremy Au to discuss his bold journey of leaving a successful tech career in San Francisco to build a startup from the ground up in the Philippines. Dennis shares the personal and professional hurdles of relocating his family across the world, surviving the costly failure of two early ventures, and ultimately finding product-market fit with Prosperna's e-commerce platform right as the pandemic hit.

He unpacks the harsh realities of the Philippine SME market—highlighting the critical "trust factor gap," the necessity of deep customer commitment, and the challenges of adapting Western tech playbooks to local cultural nuances like the in-office mandate. Finally, Dennis reveals his vision for the future: why Southeast Asian founders should look to expand globally sooner, and how building to meet Western market standards can simultaneously elevate the local tech ecosystem and create better opportunities at home.

00:00 - Introduction

03:03 - Dennis's Career in San Francisco

06:33 - Why Return to the Philippines?

11:29 - Three Startups Before Prosperna

16:33 - Discovering the E-Commerce Opportunity

17:04 - Prosperna & the Pandemic Breakthrough

18:32 - Why Build in the Philippines vs. Elsewhere?

22:36 - What SMEs in the Philippines Need

25:53 - Adapting a Western Playbook to the Philippines

35:44 - Go Global Sooner: Lessons & Vision

Watch on YouTube: https://www.youtube.com/watch?v=xVw0B8m3eN4&list=PLl9u6ECOP8_7scb97PE3whKu4yJVizIOd

Listen on Spotify: https://open.spotify.com/episode/3TsXs4CPGkBC1yuMTw0KkB