MAMBAJAO, Camiguin (PIA) — Mama Jita’s Food Products, a local tablea producer, immensely increased its productivity with the Department of Science and Technology-Technology Application and Promotion Institute’s (DOST-TAPI) Venture Financing Program.
The program enabled the DOST-assisted firm to procure additional raw materials and packaging to meet an unexpected surge in purchase orders for its Tablea products.
The TAPI Venture Financing Program offers MSMEs access to capital to help them scale their businesses, develop innovative products, or expand operations. The program provides funding without charging interest and ensures manageable repayment terms.
Eligible businesses must be registered as sole proprietors, corporations, partnerships, or cooperatives and have at least 60 percent Filipino ownership.
To qualify, applicants must be technology-based companies that meet at least one of the following criteria: possess an active intellectual property (IP) filing, adopt a DOST-developed or funded technology, be a past or current DOST beneficiary, or hold a technology license. Additionally, businesses must already be in the commercialization phase rather than the discovery or pre-commercialization stages.
Under the program, DOST-TAPI will shoulder 70 percent of the project cost, which the proponent must refund without interest. The maximum funding support is P2 million, while the applicant must cover the remaining 30 percent as a counterpart fund. The repayment period extends up to one year after fund release, plus a six-month grace period.
With the strategic support of DOST-TAPI, Mama Jita’s Food Products overcame operational challenges in acquiring necessary materials and significantly increased their gross income.
“I sincerely thank DOST-TAPI for supporting Mama Jita’s Food Products through its Venture Financing Program. Because of your financial help, we were able to produce and supply more tablea, not only in Camiguin but also outside the island. This support has been a big help to our business, our workers, and our community. We truly appreciate your efforts in helping small businesses grow. Daghang salamat DOST, daghang salamat sa DOST-TAPI,” said Julieta B. Dela Cerna, proprietor of Mama Jita’s Food Products.
The flexibility and accessibility of the Venture Financing Program allowed the business to expand operations while maintaining timely repayment of its financial obligations.
Prior to completing its Venture Financing Program with DOST-TAPI, Mama Jita’s was also a recipient of DOST-10’s assistance through the Small Enterprise Technology Upgrading Program (SETUP) for MSMEs to address their technical needs and improve the firm’s productivity and efficiency.
Mama Jita’s success highlights the impact of DOST’s programs on MSMEs, showing how financial support can drive growth and business transformation. Their achievement encourages other entrepreneurs to explore science and technology-backed assistance for business success.
Businesses facing challenges can access various DOST programs and services. For more information, one may visit the Provincial Science and Technology Office or contact 0917-857-9110. (DOST Camiguin/PIA-10/Camiguin)
