One of the reasons Google keeps coming up with killer apps is because they have their developers devote 20% of their time to personal projects. Google's Tony Chang points out an interesting discussion on Slashdot about how to implement such a policy.
Perhaps Filipino software firms can implement similar policies to leverage Filipino creativity. After all, the Filipino student who developed the powerful Love Bug didn't exactly have that project on his curriculum.
Imagine if such independent individual initiatives were channeled towards developing innovative applications no one has dreamed of yet. Who knows what potentially earthshaking ideas are rattling around in the brains of Filipino developers? ;)