14 Filipino researchers turn into entrepreneurs — DOST

Published February 25, 2021, 9:22 AM

by Charissa Luci-Atienza 

Researchers can be entrepreneurs too.

Department of Science and Technology (DOST) Secretary Fortunato T. de la Peña has disclosed that 14 Filipino researchers took part in the pilot implementation of the Preparing Researchers as Entrepreneurs Program (PREP) by the agency’s Philippine Council for Innovation, Energy, and Emerging Technology Research and Development (PCIEERD).

Department of Science and Technology Secretary Fortunato dela Peña (TOTO LOZANO/ Presidential Photo / MANILA BULLETIN FILE PHOTO)

“Fourteen Filipino researchers are now on their way to becoming entrepreneurs,” he said in a report.

He noted that the two-month program is implemented in partnership with the Ateneo Intellectual Property Office (AIPO).

“The PREP aims to equip researchers with basic business and entrepreneurial skills for them to clearly articulate the value proposition of their technology, identify their markets, customers and partners necessary for commercialization, and craft a suitable business model for their product or service,” de la Peña said.

A Virtual Demo Day was held on Feb. 4, 2021 as the culminating activity of the training program where the researchers pitched their technologies to the partners and network of the Department of Trade and Industry (DTI)- Board of Investments (BOI) composed of sectoral champions and industry leaders, the DOST chief said.

He described the event as an opportunity for the researchers to gather feedback about their technology and generate leads to possible partners and clients.

“With the success of the pilot PREP training program, the Council is now preparing for the PREP Batch 2,” de la Peña said.

Since 2014, DOST-PCIEERD has institutionalized several programs to aid technology transfer and commercialization of its funded researches. Among these programs are the Funding Assistance for Spin-off and Translation of Research to Advance Commercialization (FASTRAC) and IP Management Program for Academic Institutions Commercializing Technologies (IMPACT).