by Rhemil C. Palileo
The Technology Application and Promotion Institute of the Department of Science and Technology (DOST-TAPI), through its nationwide campaign called Tatak PINOYpreneur, is encouraging proponents to submit project proposals for its technopreneurship programs as the deadline approaches.
Project proposals under the DOST-TAPI’s commercialization programs will be accepted until 29 April 2022, Friday, at 5:00 PM.
DOST-TAPI offers a wide range of technopreneurship programs for MSMEs, startups, and the youth (Artwork by Ms. Elaiza G. Costelo)
Five flagship commercialization programs provide financing support to startups and Micro-, Small, and Medium Enterprises or MSMEs to accelerate technology commercialization in the country.
DOST-TAPI offers venture financing for startup and technology-based projects (Regular VFP) by covering the cost of acquisition or fabrication of required production equipment that utilize innovative technologies improving production efficiency. Venture financing also covers the acquisition of environment-friendly technology (VFEST) by financing the cost of acquisition or fabrication of pollution control, sustainable energy conservation or abatement equipment and technologies.
MSMEs that have adopted DOST technologies are also eligible for assistance under the Venture Financing for Commercialization of DOST-Generated/Funded Technologies. DOST-TAPI will finance the cost of acquisition or fabrication of required equipment to improve productivity that will aid the local or international market entry of DOST-generated/funded technology. It also covers the cost for local or international standards certifications.
DOST-TAPI also assists MSMEs in financing raw material costs needed to fulfill valid and unserved purchase orders (PO Financing). During this pandemic, DOST-TAPI offered another similar mechanism called the Level-up Innovation Government Support for Technologies against the Spread of COVID-19 or LIGTAS COVID-19 that provides financial assistance to MSMEs helping in the fight against the SARS-CoV-2 virus.
DOST-TAPI Director, Atty. Marion Ivy D. Decena, underscored the importance of having MSMEs and startups access the agency’s commercialization programs.
"MSMEs and startups form a significant part of our economy by providing jobs and livelihoods to millions of our kababayans. So, we at DOST-TAPI are very proud to have them as our clients and assist them through our programs,” shared Dir. Decena.
All commercialization programs offered by DOST-TAPI are refundable at 0% interest and require zero collateral.
In addition to its five flagship commercialization programs, the DOST-TAPI also offers the Youth Empowerment through Technopreneurship (YET) Program that provides financial assistance to young innovators. Formerly known as the DOST-Academe Technology-based Enterprise Development or DATBED, the YET Program finances college students and young professionals with technology-based projects viable for commercialization.
YET provides a maximum financial grant of P250,000.00 per academic institution under the college student category and P350,000.00 per project under the young professional category.
For Mr. Romeo M. Javate, a Chief Science Research Specialist of DOST-TAPI, the youth sector has a vast potential to energize the economy and one way to unleash this potential is through entrepreneurship.
“By developing the youth’s entrepreneurial spirit through the YET Program, we want to complement their passion and help them contribute towards progress anchored on science, technology, and innovation,” Mr. Javate explained.
Mr. Javate heads the Investment and Business Operations Division (IBOD), which implements the YET Program and the five flagship commercialization programs of DOST-TAPI.
YET Program proposals are accepted year-round.