DOST Cebu Provincial Science and Technology officer-in-charge Adrian D. Cruz shared that 11 MSMEs in Central Visayas have had their technological innovation proposals approved this year. (PIA7)
CEBU CITY, Cebu (PIA) — More micro, small, and medium enterprises (MSMEs) in Central Visayas stand to benefit from the Small Enterprises Technology Upgrading Program (SETUP) of the Department of Science and Technology (DOST) this year.
This opportunity for MSMEs opened after DOST Cebu field office revealed a total of P62,089,000 has been allocated for SETUP this year in the region, which is higher than the previous year’s P56,980,000.
Engineer Adrian D. Cruz, DOST Cebu provincial science and technology office-in-charge, said the proposals from a total of 11 MSMEs have already been approved this year with a total funding of P20,287,352.
From the total, 76 percent (P15,449,662) has been released to six MSME beneficiaries.
“This means that more MSMEs may be able to apply and infuse technological innovations on their businesses to improve their respective products, services, operations and even increase their productivity and competitiveness,” said Cruz.
What is SETUP?
SETUP supports the growth of the MSMEs in the Philippines, which is the largest number of enterprise categories in the country, contributing 66 percent of the jobs.
Cruz said over 99 percent of the industries or businesses in the country consist of MSMEs, and more than 66 percent of them are providing jobs.
“Technically, we can say that the MSMEs are the backbone of the Philippine economy,” Cruz said.
SETUP encourages the use of appropriate technologies to improve products, services, and business operations.
It also capacitates MSMEs with human resource training, technical assistance, and consultancy services.
Cruz said that the program operates on a fund-borrowing scheme, wherein DOST only finances the approved technology needs of the MSME applicant.
The MSMEs will begin repaying the interest-free amount in installments for three years after the year of purchase.
How to avail?
- The proponent shall submit a letter of interest to avail of the SETUP assistance to the DOST Regional Office through the Provincial Science and Technology Center where the proponent’s company is based.
- The DOST Regional Office/Provincial Science and Technology Center or external experts together with the proponent shall conduct Technology Needs Assessment (TNA) to identify current problems, improvements and potential technological interventions needed.
- The proponent shall submit a full blown proposal with all the documentary requirements.
- The proposal will be evaluated by the DOST 7 Regional Technical Evaluation Committee (RTEC). The RTEC will give comments and recommendations on the proposal. The proponent shall provide clarifications or response to these comments if necessary.
- After evaluation, the proposal will be recommended for approval by the RTEC if it meets all the requirements. Otherwise, it will be returned to the proponent.
- The final approval will be made by DOST VII Regional Director or DOST Undersecretary for Regional Operations or DOST Secretary depending on the amount requested from SETUP
DOST Region 7 is inviting interested MSMEs in the region to visit their website or their official Facebook page for more details on how to avail of SETUP.
“We are to help you with your productivity, your product quality, as well as the systems that you need and the technology that you really wish for,” Cruz said. (JJT/PIA 7)
