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Manila Bulletin devider Business devider Trade & Industry devider DTI, BCYF unite to empower MSMEs

DTI, BCYF unite to empower MSMEs

Published Nov 21, 2023 11:17 am

The Department of Trade and Industry (DTI) and the Benita & Catalino Yap Foundation (BCYF) signed on Tuesday, Nov 21, a Memorandum of Agreement (MOA) to drive innovation and entrepreneurship within the micro, small, and medium enterprises (MSMEs) sector in the Philippines. 

“We at the DTI remain committed to empowering our MSMEs through several digitalization and innovation efforts anchored on our science, technology, and innovation (STI) driven approaches,” DTI Secretary Alfredo E. Pascual said.

“Through a whole-of-government approach, we are actively working with both public and private sector to enhance our MSMEs competitiveness and facilitating their integration in the global market,”  he added.

The MOA signed at the DTI Board of Investments building underscore the unified commitment of DTI and BCYF to nurturing an environment conducive to the growth and advancement of MSMEs in the Philippines. 

Further, this partnership signifies a transformative alliance, highlighting the fundamental significance of innovation and entrepreneurship in uplifting the MSME sector, thereby driving sustained economic growth and comprehensive development for the country. 

Founded by Dr. Antonio S. Yap, the BCYF stands as a pioneering organization dedicated to championing innovative social solutions through Corporate Social Responsibility (CSR). 

Since its establishment in 1993, BCYF holds a steadfast vision of fostering sustainable development and empowerment within communities across the Philippines and the broader Asian landscape. 

Central to its mission is the respect for individual dignity and contributions, striving to develop innovative social solutions that uplift societies and drive equitable growth. 

The BCYF's Project Commerce plays a pivotal initiative aimed at bolstering the technology business incubators (TBIs) across various State Universities and Colleges (SUCs) nationwide. 

This project serves as a significant support system, fostering technological advancements and entrepreneurial endeavors within these institutions. 

The foundation aims to partner with DTI in executing the BCYF Innovation Awards while providing comprehensive training and consultancy services in innovation and entrepreneurship to DTI business counselors and MSMEs. 

This collaboration seeks to enhance the MSME landscape by equipping stakeholders with essential skills and fostering a culture of innovation. 

On the side of the DTI, it pledges to amplify BCYF's initiatives by facilitating presentations and disseminating crucial information through official channels like the DTI website and other social media platforms. 

Pascual stressed that the DTI stands ready to engage in collaborative projects with BCYF in Mindanao, aligned with their shared vision of fostering innovation and development within the MSME sector. 

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