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Venture Financing for Environmentally Sound Technologies (VFEST)

Opportunity Status:

OPEN

Funders:

Technology Application and Promotion Institute (DOST-TAPI)

Funding type:

Repayment

Closing date:

1st Wave: 29 April 2022 | 5:00 PM

2nd Wave: 15 August 2022 | 5:00 PM

Submit through:

email This email address is being protected from spambots. You need JavaScript enabled to view it.

Link to Documents:

Program Guidelines, project proposal templates, and other relevant documents can be found at this link.

Description:

The Venture Financing for Environmentally-Sound Technologies (VFEST) Program is a program of the Technology Application and Promotion Institute (DOST-TAPI) that supports MSMEs adopting locally developed green technologies that would result in a significant waste and pollution reduction and cost savings among local manufacturing industries.

1. Food Processing
2. Furniture
3. Gifts, Decors, and Handicrafts
4. Agriculture or Marine or Aquaculture
5. Metals and Engineering
6. Information and Communication Technology (ICT)
7. Pharmaceuticals, Health, and Wellness products
8. Manufacturing and Industrial processing

Eligible proponents for this Program are Filipino-owned MSMEs. They should be duly registered Sole Proprietors or Corporations or Partnerships or Cooperatives at least sixty percent (60%) ownership of which belongs to Filipino Citizens.

The Program finances the cost of acquisition or fabrication of pollution control, sustainable energy conservation or abatement equipment and technologies that result to significant waste and pollution reduction and cost savings among local manufacturing industries.

The Program will cover seventy percent (70%) of the project cost which shall be refunded by the proponent without interest. At least thirty percent (30%) of the project cost shall be covered by the proponent. DOST-TAPI shall cover a maximum of Two Million Five Hundred Thousand Pesos (2.5M) per project.

The period of refund shall not exceed three (3) years after the release of funds in addition to a six (6) months grace period.

  1. The project proponent shall prepare a full-blown project proposal and formal application letter, along with the complete requirements;
  2. The project proponent must send a copy of the full-blown project proposal and formal application letter in PDF format, along with the complete set of requirements, via email through This email address is being protected from spambots. You need JavaScript enabled to view it.. Submissions with incomplete requirements and/or sent beyond the deadline shall be returned to the Project proponent;
  3. The DOST-TAPI shall acknowledge receipt of the successful submission through email; and
  4. The DOST-TAPI shall inform the project proponent, through the contact information provided, regarding the status of his/her proposal.

Note: the full list of forms and requirements can be found at this link.

  1. Proponent's application letter and commitment to avail the financial assistance addressed to TAPI Director
  2. Duly-Accomplished Data Privacy Consent Form
  3. FULL BLOWN PROJECT PROPOSAL/ Feasibility Study which includes:
    a. Company's Background;
    b. Marketing Aspect;
    c. Technological Aspect;
    d. Waste Management/Disposal/ Social Aspect; and
    e. Financial Aspect
  4. Projected Financial Statement for the next five (5) years (Statement of Financial Position, Income and Cash Flow)
  5. Copy of business permits and licenses (Mayor, DTI, BFAD-LTO, Halal, etc.)
  6. Certificate of registration of business name with SEC, or CDA and Articles of Partnership or Incorporation / By-Laws (for Corporation)
  7. Notarized Board resolution or Secretary's Certificate authorizing the borrowing and designating authorized signatories for the financial assistance (for Cooperative/Corporation)
  8. Certified list of stockholders and officers (if a corporation) with brief blo-data of applicant/ major stockholders and officers
  9. Three (3) quotations from suppliers/ fabricators for all the equipment to be purchased/ fabricated, IF APPLICABLE
  10. Technology-Licensing Agreement/ MOA between technology generator and technology adaptors (for adoption of DOST generated technologies) and certification of FOR/ Fairness Opinion Report - c/o RDI concerned, IF APPLICABLE
  11. Audited Financial Statement for the past three (3) years
  12. Interim Financial Statement to assess the current financial viability (if necessary)
  13. Valid IP Documents/Patent Certificates, IF APPLICABLE
  14. Proof of Patent Search (for potential IPs), IF APPLICABLE
  15. Affidavit of authenticity

Note: the full list of forms and requirements can be found at this link.

Projects submitted must obtain at least a 75% score with the following criteria:

Technical Aspect – 30%
Marketing Aspect – 20%
Financial Aspect – 25%
Socio-Economic Impact and Compliance to Requirements – 25%

DOST-TAPI Public Assistance
Office Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
Tel. No.: 8837-2071 local 2153