TRI-AGENCY START-UP ASSISTANCE PROGRAM

In line with the policy thrust of President Duterte to create an environment conducive for creative and innovation-led business models to help accelerate Philippine economic growth, Trade Secretary Ramon M. Lopez (third from left), Science Secretary Fortunato T. de la Peña (fourth from left)) and Information and Communications (DICT) Acting Secretary Eliseo M. Rio Jr. (third from right) joined forces in promoting and strengthening Philippine start-ups through a memorandum of understanding (MOU) signed on December 19. The MOU on Startup Assistance Program 2019-2023 covers the development of the ICT ecosystem in the countryside and of local ICT start-up businesses through DICT’s seedPH program; financial assistance for technology transfer support and nurturing tech-based start-ups through DOST’s Philippine Council for Industry, Energy and Emerging Technology Research and Development; and scaling up Philippine start-ups through the Department of Trade and Industry’s (DTI) outbound business missions and international pitching competitions. The program plans to have 1,000 start-ups by 2020. Earlier this year, the three government agencies also signed the formulation and implementation of Inclusive Filipinnovation and Entrepreneurship Roadmap to develop Philippine innovation and entrepreneurial ecosystem by enhancing linkages between the government, industry and academe. Also present during the MOU signing were DTI Undersecretary Nora K. Terrado (second from left), DOST Undersecretary Rowena Guevara (left), DICT Undersecretary John Henry Naga (second from right) and Monchito Ibrahim (right).