The Department of Science and Technology -Technology Application and Promotion Institute (TAPI) is looking for project proposals for its technopreneurship programs under its nationwide campaign called "Tatak PINOYpreneur".
According to DOST-TAPI, they organized on July 12 to 13, 2022, an orientation called “TechnoBYAHE” to discuss the flagship commercialization and youth entrepreneurship programs of DOST-TAPI.
DOST-TAPI stated that it offers venture financing under its Venture Financing Program (VFP) that seeks to to accelerate the commercialization of innovative technologies/inventions by providing the necessary funding support start-ups, SETUP beneficiaries, and other MSMEs.
Under this, there is a VFP for Start-Up and Technology-Based which aids by covering the cost of acquisition or fabrication of required production equipment that utilizes innovative technologies to improve production efficiency.
Venture financing also covers the acquisition of environment-friendly technology through DOST-TAPI's Venture Financing for Environmentally-Sound Technologies (VFEST) conducted by financing the cost of acquisition or fabrication of pollution control, sustainable energy conservation, or abatement equipment and technologies.
Micro, Small, Medium Enterprises that have adopted DOST technologies are also eligible for assistance under the Venture Financing for Commercialization of DOST-Generated/Funded Technologies.
"DOST-TAPI will finance the cost of acquisition or fabrication of required equipment to improve productivity that will aid the local or international market entry of DOST-generated/funded technology. It also covers the cost of local or international standards certifications," it said in a statement.
It added that it also assists MSMEs in financing raw material costs needed to fill valid and unserved purchase orders (PO Financing).
During this pandemic, DOST-TAPI offered another similar mechanism called the Level-up Innovation Government Support for Technologies against the Spread of COVID-19 or LIGTAS COVID-19 which provides financial assistance to MSMEs helping in the fight against the pandemic.
In addition to this, DOST-TAPI also offers the Youth Empowerment through Technopreneurship (YET) Program which provides financial assistance to young innovators, such as college students and young professionals with technology-based projects viable for commercialization, whose proposals are accepted all year round.