Author: Amiel T. Carreon - Science Research Specialist I - DOST3 , Jairah L. Fajardo - Project Assistant III
SMEs, Still Confident to Avail DOST’s SETUP Funding Support
Despite the economic slowdown generated by the Covid-19 pandemic, DOST Central Luzon has not stopped actively wooing local businesses to avail of assistance under its Small Enteprise Technology Upgrading Program or SETUP even as these firms shy away from making big decisions that might further undermine their stability.
This unrelenting effort has resulted in six new projects being funded under the program. Just recently, a virtual signing of memorandum of agreement was held between the Department and Danrich Bakery; LFS Printing Services; Romyol Concrete Products; Izzamawy Pastries and Delights; Mavis-Maeve Native Delicacies Manufacturing; and Villanueva’s Farm.
SETUP in ACTION
A total of PhP 6,026,460.00 has been allocated for these firms so they can acquire equipment, machinery, and technology to boost their productivity. Danrich Bakery, a program second-phaser from Bulacan, has been granted assistance to acquire the enhanced Nutribun technology developed by the Food and Nutrition Research Institute (DOST FNRI). The project is expected to have significant impact in the fight against hunger and malnutrition especially among children in this time of pandemic.
Miss Jenina Cristel Malonzo, regional program manager, is encouraging small businesses, to avail the SETUP assistance. She says, “Our terms are very customer-friendly, and we make sure that we are with you every step of the way so we can achieve success together.”
What is SETUP
Small Enterprise Technology Upgrading Program (SETUP) is a flagship program of the Department of Science and Technology (DOST) that intends to strengthen the country’s innovation system by enabling enterprises to address their technological requirements and limitations to improve productivity and efficiency.
For year 2021, PhP64.850M worth of funds has been downloaded to DOST III for their SETUP projects which is intended for funding of 60 new projects of MSMEs. As of May 2021, a total of 13 projects has already been approved and another 20 has been endorsed for processing.
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