PH incubators to receive funding from DOST

By Dhel Nazario

Eight Philippine incubators are set to receive funding support with the launch Wednesday of the Technology Business Incubation (TBI) 4.0 Program that is aimed primarily at upgrading the capabilities to assist the local TBIs through the country's premier science and technology agency.


The eight TBIs, funded by the Department of Science and Technology (DOST), will be financially supported to lead the assessment, co-development of incubation programs, capacity building, and co-incubation arrangements.

The Program lead is QBO Innovation Hub in partnership with UPSCALE Innovation Hub of the University of the Philippines, CDO BITES of the University of Science and Technology in Southern Philippines, Ideya of Mindanao State University – Iligan Institute of Technology, Center for Technopreneurship and Innovation (CTI) of Batangas State University, GTBI of West Visayas State University, Animo Labs of the De La Salle University, and UPLB SIBOL or Startup Innovation and Business Opportunity Linkage Labs.

The DOST, through the Philippine Council for Industry, Energy and Emerging Technology Research and Development (PCIEERD), looks forward to the global exposure of the local startups to the international field with their launch of the TBI 4.0.

With this, there will be partnerships and and collaborations with incubators and accelerators from other countries, developing and implementing startup programs with these partners, and co-incubating and immersing Philippine startups in global environments.

Partners already on-board are Villgro Social Enterprise Ventures, Swinburne University, BCB Innovation PTE LTD., SPINOFF Acadasia PTE LTD., ThaiBISPA, and local partners Ideaspace and Spring Valley.

"Through the DOST TBI 4.0 Program, we are currently leveling up our DOST TBIs to be at par with well-known foreign incubators and put the Philippines on the map in terms of services and startup support. We aim for global presence and offer our startups opportunities so they can scale and grow,” said DOST Secretary Fortunato dela Pena.

To achieve this, the DOST shall map out strategies to build capacities of each DOST incubator, seek out formalized partnerships with foreign incubators and accelerator in order to enhance the services of the TBIs.

The DOST has long supported innovation and entrepreneurship building in the country through its major programs particularly the establishment of TBI Program which launched 45 Incubators around the country and supported over 320 startups, more than 1,200 jobs, more than 110 full blown companies and generated more than 280 million private investments since its founding in 2009