ILOILO CITY (PIA) -- Micro, small and medium enterprises (MSMEs) in Western Visayas were encouraged to avail the Department of Science and Technology’s (DOST) 6 flagship program dubbed as the Small Enterprise Technology Upgrading Program Innovation-Enabling Fund (SETUP iFUND).
SETUP is a strategic approach to adopt technology and science-driven innovations among enterprises to improve their operations, enabling them to boost their productivity and competitiveness.
The science department has allocated P80.180 million for the target beneficiaries in the region for this year.
“Amid the pandemic, SETUP has assisted MSMEs to address their specific needs and requirements such as technology and equipment upgrading, strengthening of innovation capability, increasing productivity, and producing quality products,” DOST 6 SETUP focal person May Rose Suerte said.
She added that the package of assistance under SETUP has supported the MSMEs to solve difficulties in their operation to become resilient and viable.
These support and services consisted of technology training, consultancy and laboratory services, product research and development, and technology upgrading.
Under this modality, beneficiaries return the total cost of assistance to the government in adopting technological innovations for three
years without interest.
To note, the food processing priority area has the most number of SETUP beneficiaries due to demand in tourism and availability of raw materials from the region’s vast agricultural land.
SETUP also caters to key sectors such as metals and engineering, furniture, gifts, decors, and handicrafts, agriculture and aquaculture, Information and Communication Technology, pharmaceuticals and health products, and Halal products.
DOST 6 noted that interested MSMEs can visit the nearest Provincial Science and Technology Centers (PSTCs) located in the provinces so that they can be assessed on the needed S&T interventions. (JBG/LML/PIA Iloilo)
