SMEs, still confident to avail DOST’s SETUP funding support

Despite the economic slowdown generated by the  Covid-19 pandemic, DOST Central Luzon has not  stopped actively wooing local businesses to avail of  assistance under its Small Enteprise Technology  Upgrading Program or SETUP even as these firms  shy away from making big decisions that might further  undermine their stability. 

This unrelenting effort has resulted in six new projects  being funded under the program. Just recently, a  virtual signing of memorandum of agreement was  held between the Department and Danrich Bakery;  LFS Printing Services; Romyol Concrete Products;  Izzamawy Pastries and Delights; Mavis-Maeve  Native Delicacies Manufacturing; and Villanueva’s  Farm.

What is SETUP 

A total of PhP 6,026,460.00 has been allocated for  these firms so they can acquire equipment,  machinery, and technology to boost their  productivity. Danrich Bakery, a program second phaser from Bulacan, has been granted assistance  to acquire the enhanced Nutribun technology  developed by the Food and Nutrition Research  Institute (DOST FNRI). The project is expected to  have significant impact in the fight against hunger  and malnutrition especially among children in this  time of pandemic. 

Miss Jenina Cristel Malonzo, regional program  manager, is encouraging small businesses, to avail  the SETUP assistance. She says, “Our terms are  very customer-friendly, and we make sure that we  are with you every step of the way so we can  achieve success together.” 

Small Enterprise Technology Upgrading Program (SETUP) is a flagship program of the Department of  Science and Technology (DOST) that intends to strengthen the country’s innovation system by enabling  enterprises to address their technological requirements and limitations to improve productivity and  efficiency. 

For year 2021, PhP64.850M worth of funds has been downloaded to DOST III for their SETUP projects  which is intended for funding of 60 new projects of MSMEs. As of May 2021, a total of 13 projects has  already been approved and another 20 has been endorsed for processing.

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