TAGBILARAN CITY, Bohol, Nov. 4 (PIA) – The Department of Science and Technology is inviting owners of micro, small or medium enterprise (MSME) who hopes to grow their business but do not have the capital to do so to consider DOST’s Small Enterprise Technology Upgrading Program (SETUP).

SETUP is a DOST banner program assisting and helping entrepreneurs improve their products and processes, according to DOST Bohol Provincial Science and Technology Center Chief Vina Antopina during the PIA’s online program “Piskay Ni Bay.”

Entrepreneurs may not be able to cope up with the growing demand as their market increases.

Antopina said in this situation, experts from DOST will assist the entrepreneurs take a look at their processes to see where where they can provide innovation support.

If there is a need for more capital to purchase key equipment, the DOST can come in and help, she added.

The DOST can provide the funds so the entrepreneur  can still use his capital which is needed to keep the business alive.

SET-UP is the government’s new rent-to-own scheme, as opposed to the dole-out system, that turned out to be ineffective as the beneficiaries do not always take good care of the equipment.

According to Antopina, entrepreneurs can apply for P3M upgrade and the local and regional DOST offices will process their application.

Should the MSME need more, an upgrade capitalization for over P3M will be approved at the DOST Central Office.

Antopina said this is a zero-interest rent-to-own scheme that will bind the beneficiary some three years to pay for the upgrade, and with a grace period of one year after the release of the upgrade.

Entrepreneurs do not pay on the first year to allow them to shop for the equipment, bid and select which they would use.

During this time, DOST pays for the equipment.

Antopina added in the case of food processors, the level of help does not just include the purchase of equipment for the upgrade, it also includes packaging and labeling, laboratory analysis, nutritional facts determination, shelf-life, and microbial analysis.

She also bared that aside from food processing, DOST is also supporting MSMEs engaged in metals and engineering, upholstery and furniture, gifts, housewares and home decors, agriculture, aquaculture, wellness, and other fields.

Eligible MSMEs are those who have been in the industry for at least three years and with good fiscal management to afford them the capacity to pay.

Antopina said they are also getting into financing the SET-UP of new start-up companies. 

The applicant would be required to write a business proposal, to which the DOST can guide.

“We are also helping in the drafting of the project proposal as we have done to the over a hundred set-ups in Bohol since 2004,” she shared.

As government assistance in SET-UP, the applicant should have a legitimate mature business, with the necessary barangay and mayor’s permits, business name and registered with the Bureau of Internal Revenue so they can issue officials receipts.

This is necessary as DOST would be issued the business’ official receipt as soon as they turn over the equipment. 
DOST’s doors are also open for MSMEs who require the needed upgrade to improve productivity, expand markets and innovate.

In Tagbilaran City, DOST’s office is at Lino I. Chatto Drive, new Capitol Complex. (RAHC/PIA7 Bohol)