DOST to hold biz summit for ‘incubators’, startups

MANILA The Department of Science and Technology (DOST) will gather its agency-assisted "incubators" and startups to help them sharpen their entrepreneurial skills, and to better showcase the agency's programs and support for the sector.

This will be held in Manila on Dec. 19, via the 2nd National Technology Business Incubator (TBI) Summit that the DOST-Philippine Council for Industry, Energy and Emerging Technology Research and Development (PCIEERD) will host.

Technology incubators assist technology-oriented startup entrepreneurs by providing them with workspace. DOST-assisted TBIs do not just provide workspace, but also technical services and facilities.

DOST uses technology business incubation to promote "technopreneurship" and innovation, according to PCIEERD's website.

The agency's TBI program also promotes public-private partnerships in regional economic development.

By staging the TBI Summit, the DOST will help promote communication between startups and private and public partner agencies.

Several panel discussions will also be held to showcase some of the best practices in the ASEAN, in relation to business incubation.

Fostering innovation in communities will also be discussed, apart from the DOST's plans for technology startups.

In 2017 alone, the DOST assisted more than 400 startups. DOST Secretary Fortunato dela PeAa earlier told the Philippine News Agency (PNA) that the DOST provides them with various forms of assistance, such as calibration, services, and even monetary assistance.

Aside from the TBI program, the DOST also supports the startups through its Small Enterprises Technology Upgrading Program (SETUP).

SETUP assists the micro, small, and medium enterprises (MSMEs), and helps them improve their productivity and competitiveness by providing them a loan that is payable in three years.

MSMEs must be at least three years in the business before they can apply for this program. (PNA)

Source: Philippine News Agency