Gov’t allots P100-M budget for innovation grants this year

The government has allocated P100 million to support programs and projects that promote innovation this year, the National Economic and Development Authority (NEDA) said.

The agency said the General Appropriations Act for 2023 has authorized the appropriation of P100 million for innovation programs, activities, and projects in accordance with Republic Act 11293 or the Philippine Innovation Act.

According to NEDA, the grant is open to national government agencies including their attached agencies, regional offices, and operating units, local government units, state universities and colleges, local colleges and universities, and government-owned and controlled corporations.

Under the law, the government aims to promote innovation as a vital component for national development and sustainable economic growth.

The NEDA Innovation Staff serves as the secretariat of the National Innovation Council (NIC) tasked under the Philippine Innovation Act to develop the country’s innovation goals, priorities and long-term national strategy.

Last month, the NIC approved 19 project proposals amounting to P115 million under the innovation grants during its first meeting under the current administration.

The NIC is a 25-member body, which has the President as chairperson and the NEDA Secretary as vice chairperson.

NEDA Secretary Arsenio Balisacan earlier said that the majority of the approved project proposals “sought to address the pre-commercialization and commercialization requirements of innovative products or services, the enhancement of innovation facilities and services, and the conduct of capacity-building activities.”

To streamline the grant application and submission process, the NEDA said it would be utilizing the Electronic Innovation Grants Information System (EIGIS).

The web-based information system would simplify the process of submission and review of proposals.