DOST releases P18.59M to boost enterprise development in Region 1

By Racquel P. Espiritu

SRS II, DOST 1

Recognizing the role of micro, small and medium enterprises in national development, the Department of Science and Technology (DOST) has sustained the Small Enterprise Technology Upgrading Program (SETUP) as a nationwide strategy encouraging and assisting SMEs to adopt technology innovations to improve their operations and thus boost their productivity and competitiveness.

For the first semester of 2014, the Department of Science and Technology in Region 1 (DOST-1) released a total fund of P18.59M to boost enterprise development among small and medium enterprises (SMEs) in the region. The fund was used to provide innovative, cost-effective and appropriate technologies to forty-six (46) manufacturing firms in Region 1 to develop and produce competitive products and services that meet world-class standards.

Investments are focused on priority sectors such as food processing, furniture, gifts, decors, handicraft (GHD), agriculture/marine/aquaculture, metals and engineering, health products and pharmaceuticals, and information and communications technology (ICT) products. Out of the approved projects and released fund, 18 are under the food processing sector with funding worth P6,276,650.00; 12 projects are under the Metals & Engineering sector worth P5,258,866.00; 8 projects on Furniture worth P1,732,054.00; 4 projects on Agriculture worth P3,497,680.00; 2 projects each for GHD and support to packaging needs of MSMEs worth, P329,240.00 and P1,496,000.0, respectively.

Through SETUP, the MSMEs enable to address their technological requirements and improve productivity and efficiency through infusion of appropriate technologies to improve/develop products, services and/or operations; human resource training, technical assistance and consultancy services; design of functional packages and labels; assistance for compliance with regulatory and market standards including testing; provision of assistance for technology acquisition.

Any manufacturing firm owner who is interested to avail the SETUP assistance may visit the nearest DOST office in the area. For more details about SETUP, please visit the websites at http://webgis.dost.gov.ph/ and http://region1.dost.gov.ph/.

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