DOST-TAPI, in partnership with LANDBANK, launched the I-TECH Lending Program on 28 September 2017 at the PICC in Pasay City
The Technology Application and Promotion Institute of the Department of Science and Technology (DOST-TAPI), in partnership with Land Bank of the Philippines (LANDBANK), launched the Innovation and Technology (I-TECH) Lending Program on 28 September 2017 at the Philippine International Convention Center (PICC), Pasay City.
I-TECH supports the commercial production of patented Filipino inventions through a special financing window that complements the Invention Guarantee Fund (IGF).
The IGF is available to finance and guarantee the loan assistance of any credit-worthy and duly-certified Filipino inventors recognized by the Filipino Inventors Society and the Screening Committee created under Republic Act (RA) 7459 or the “Inventors and Invention Incentives Act of the Philippines”.
With I-TECH, inventors can easily acquire funding in completing the utility model of their invention until commercialization.
With this partnership, DOLE-BSWC contributes to the country’s poverty reduction through capacity building on entrepreneurial ventures especially among the vulnerable and marginalized workers of the nation.
An initial meeting was held on 15 September 2017 which brought the conception of an MOU between DOST-TAPI and DOLE.
“The convergence of the services of both government agencies through STARDev and DILEEP can sustain the capabilities of the beneficiaries in the community for livelihood programs,” said Pierre Sonia S. Dela Corte, Cluster Head of STARDev.
DOST Secretary Fortunato T. De La Peña and DOLE Secretary Silvestre H. Bello are expected to sign the MOU in the fourth quarter of 2017.
DOST-TAPI S&T Media Service
Jund Rian A. Doringo