Financial knowledge gaps occur when entrepreneurs do not have the savviness to manage their business, including funding requirements, branding, legal documentation, bookkeeping, and a simple understanding of the importance of financial management.

Such startups are typically innovative, young, and technologically oriented enterprises that want to make it big.

"We started above 2018 when I saw a lot of startups having difficulty raising funds and not having a good experience to be considered for funding," Aya Laraya, co-founder of management consultancy firm Ronin, said. "I also see investors cannot validate startups, and I want to fill that gap and provide the bridge to connect them."

Ronin was established to bridge the gap between angel investors and startups. "The number one question for startups should be, how much is my company's worth? And the second, is how much funding they need to make their business viable?" he added.

One of the biggest challenges of Filipino startups is the lack of system infrastructure to access financial facilities, Laraya explained. Even if the entrepreneurs have solid ideas but do not have access to funding, the idea may not take off.

"In Singapore and Hong Kong, they have established systems for raising funds. That is what Ronin is trying to solve. We created the RISE. Challenge to address that gap. It's all about providing a holistic financial knowledge package to startups," he added.

The Ronin Group is a financial management and education services company, onboarding a group of legal, accounting, and finance experts who have helped set up, scale, and successfully exit startups.