The Department of Science and Technology's (DOST) Small Enterprise Technology Upgrading Program (SETUP) helps small and medium enterprises become "globally competitive," its official said Saturday, Sept. 25.
SETUP is a nationwide strategy aimed at encouraging and assisting SMEs to adapt to technology innovations to improve their operations and boost their productivity and competitiveness.
"SETUP is a banner project of DOST that is implemented in regional offices, it provides financial and technical assistance so that our SMEs can be globally competitive and increase their productivity." DOST Undersecretary Sancho Maburrang said in Filipino during the Laging Handa briefing.
Maburrang said the agency also provides the necessary equipment and also offers free consultancy services and training to SMEs.
"According to our data, we have helped 500 companies from January to June. And we are happy because these companies have not cut back production even amid lockdowns and quarantines. Their businesses and investments have grown, others even expanded their businesses," he noted.
The project, according to Maburrang, has helped around 100,000 firms since it was launched in 2002 and created over 3,000 jobs.
The priority sectors assisted by SETUP are agriculture, food processing, metal and engineering, health and pharmaceutical, and gifts, decors, and handicrafts.