MOU signed for innovation initiatives

A MEMORANDUM of understanding (MOU) was signed here on Wednesday, January 29, to further bring development through innovation among key industries in the region particularly on processed fruits and functional foods.

Heads of several government agencies, industry players and academe, as well as the City Government of Davao have sealed their commitment to strengthen collaboration through the Regional Inclusive Innovation Center (RIIC) in Davao Region.

Anchored on the Inclusive Innovation Industrial Strategy or i3s growth model of the Philippine Innovation Act, key industries in the region are tapped to fast-track industrial growth through innovation and to keep the local MSMEs globally competitive and adopt technologies such as Internet of Things (IoT), Artificial Intelligence or Robotics, in the business to be at par with the 4th Industrial Revolution.

To foster a culture of innovation, the Department of Trade and Industry (DTI), together with the Commission on Higher Education (CHED), Department of Information and Communications Technology (DICT), and Department of Science and Technology (DOST) collaborated in pursuing the enhancement of innovation ecosystem, especially that Davao is identified as one of the pilot areas for the RIIC implementation. Other areas are Bicol, Cebu and Cagayan de Oro City.

Dubbed as Innovation through Science & Technology and Risk Resilientbased Initiatives toward Knowledge Economy or iSTRIKE Davao, the RIIC aims to harness the region’s thriving innovation ecosystem. This is composed of government agencies, academic insti

tutions, and dynamic industry players that work together in developing innovative products and services for processed fruits and functional food sectors. The latter refers to the food group that provides additional health benefits when compared to the usual diet. While innovation is considered crucial in the success of entrepreneurs, the initiative’s coverage has expanded to the creatives sector. Specifically, this includes the fashion, wearables and homestyle, gifts, toys and housewares (GTH), and digital industries. These are deemed to have high impact on economic growth.