Peter D. Garrucho Innovations Institute
Hub of Innovation for Inclusion (HiFi) breaks new ground with the Peter D. Garrucho Innovations Institute (PDGii)
The Peter D. Garrucho Innovations Institute is an innovation space and business incubator for social good startups in Benilde and beyond. Designed by Javier Design Studios Manila, targeted for completion in Q1 2018, this new campus is envisioned as the space and platform that opens its arms to all who wish to create and scale social impact.
Benilde’s partnership with Mr. Peter D. Garrucho Jr is a testimony of its commitment to social impact, manifested through the building of an innovation space, conduct of responsible research that results in the development of innovation, recognition and incubation of ideas that address UN Sustainable Development Goals (SDGs).
Benilde recognizes the key importance of these areas where innovation is much needed, thus, special incubation programming will be allocated for agriculture and sustainable energy. This Institute incubates the design of innovations that are desirable, viable, and feasible. We therefore honor the man who has generously sown into our purpose and calling. His act of faith, hope and charity is definitely defining the future of social innovation in the country.
In a speech before his La Salle batchmates and the Benildean community, Mr. Garrucho shared how he became part of the Benilde Story.
“I’m a product of a Lasallian education earning a Liberal Arts-Commerce degree at De La Salle University.
His MBA from Stanford granted him a scholarship from Ford Foundation — with a commitment to teach at the Asian Institute of Management — eventually becoming the youngest full professor at that time.
Starting in business with Unilever, he became CEO of a battery manufacturer, and CEO of First Gen Corporation (FGEN).
He also served as a cabinet member of President Corazon Aquino first in tourism, then in trade and industry and then briefly as Executive Secretary of President Fidel Ramos.
Currently, he is a director in a number of firms principally FGEN and Energy Development Corporation (EDC). FGEN is the pioneer and leader in the natural gas industry, producing 2,959 megawatts (MW) of electricity from indigenous energy sources. FGEN accounts for 23 percent of the country’s gross generation and operates Energy Development Corporation (EDC), the world’s largest integrated geothermal power producer.
He is also Vice Chairman of Franklin Baker Co. of the Philippines, one of the largest global suppliers of coconut products with more than $100 million in exports from desiccated coconut, to coconut water, and coconut milk.
Looking back on how he was blessed with a good education, a good career, and good investments, he decided “it’s give back time” by focusing on his mother’s province of Antique and his Lasallian education.
He gave money for scholarships and the repair of the school building in Pandan, Antique where he was born. He gave a faculty chair in honor of his mother to La Salle Bacolod, where his father is from.
But he wanted to do more. Searching for other meaningful gift ideas to La Salle, he discovered the Benilde Institute of Innovation. According to him, his act of faith was fortified knowing Stanford also has an Institute of Innovation. And what eventually attracted him to Benilde was because social innovation was “a going concern and was poised to grow.”
“Some of you may be saying that is a generous Act of Charity. It is, because P25 million represents a major contribution for me. But let me add just as quickly that this is also a major Act of Faith. Many of you who have asked me, what is an Institute of Innovation meant to do. I didn’t know then and I know a bit more now and I still have a ways to go. It is all part of my education… As I know more, I have more and more Faith in the wisdom of this contribution. In moving on, let me say that this enterprise also entails an Act of Hope. A major motivator for me is the Institute’s potential to help trigger Inclusive Growth.
I know something about Development to be persuaded that the mantra for our times is for Inclusive Growth. My Act of Hope is fortified by the Network of provincial schools that the Institute has linked up with and supported with familiarization, training, mentoring on various aspects of Innovation which might yield more projects that may see commercial development… In closing, let me say that my contribution will not end with the payment of the check. I plan to continue to help with my network of experienced friends and businessmen, my many suggestions, and my overall support in our road towards Inclusive Growth.”
— Peter D. Garrucho Jr.
