(Department of Science and Technology Central Luzon Senior Science Research Specialist and SET-UP Program Manager Jenina Cristel Malonzo (left) talks about the agency’s programs to aid businesses in terms of technological innovations during the Talk WidUs Kapihan of the Pampanga Press Club. Marie Joy L. Simpao/PIA 3)
CITY OF SAN FERNANDO, Pampanga, March 7 (PIA) — Department of Science and Technology (DOST) assured its continuous support to businesses through the Small Enterprise Technology Upgrading Program (SET-UP).
In a press conference, DOST Central Luzon Senior Science Research Specialist and SET-UP Program Manager Jenina Cristel Malonzo said they are keen on helping businesses expand their technological innovations by providing aid through equipment acquisition.
“Due to lack of budget, innovation among micro, small and medium enterprises (MSMEs) is usually left out. Instead of spending on machineries and equipment, MSMEs prefer to allot their capital on raw materials and other business expenses,” Malonzo said.
In terms of the loan amount, there is no limit but will depend on the needed technology supported by a project proposal and the capacity of MSME to refund the equipment.
“Aid under SET-UP has no interest and collateral and is payable within three to five years. For loans amounting to PhP3 million and below, approval is at the regional level, but for those exceeding PhP3 million, it will be endorsed at the Central Office for another course of evaluation,” the program manager said.
Priority sectors for SET-UP in Central Luzon include food processing; furniture; agriculture; metals and engineering; gifts, decors and handicrafts; and Halal programs and services.
New sectors including creative industry, energy and environment, and development of software and information technology tools are also included among the priority sectors.
Those interested to avail the aid should submit a letter of intent, a comprehensive project proposal, and one year financial statement for micro enterprises or three years financial statement for small and medium businesses.
“Qualified to avail this are businesses located in the country and are wholly-owned by Filipinos that are willing to apply technological innovations. Local government units, state universities and colleges and higher education institutions are also qualified as long as they have business operating activities,” she added.
Aside from equipment acquisition, DOST also provides free services to help MSMEs like trainings, consultancies, packaging and labelling services. (CLJD/MJLS-PIA 3)
