The fact that medium-returns internationally would make you rich in the Philippines is part of the appeal.
Maybe I am mistaken since I haven't personally participated in a start-up but the appeal just often leads to our major businesses eating up the smaller businesses. If there are small businesses that do indeed grow from this without being bought, it becomes such a brand-centric concept that promotes copycats rather than idea inventors.
I hope I am able to convey myself clearly. It's not that I disagree with your idea, it's just that I feel we already have this already. It certainly could be faster or more aggressive but nothing that would develop an idea culture. Even in the money culture - I fear it would end up morphing too much like an online MLM type of educational/culture development - a concept who's offline variety is already very popular among the poor and even middle classes in this country.
Aside from local clones, I'm unable to think of anything that fits that bill. Especially if we're talking medium-return businesses internationally the likes which would be considered high-return in this country.
There's things like setting up your own online shops but that kind of setting is not conducive to forming a hub. Then there's the opposite spectrum of a cheap hub, places that as you describe makes it easy for any type of small businesses to form but it's certainly not the type of setting that could develop a culture of start-up support or hacker heartland.