The Board of Investments (BOI) and two constituents of the University of the Philippines (UP) signed an agreement to collaborate on investment promotions for locally developed biofertilizers and herbal medicine technologies.
The BOI signed a memorandum of understanding with the UP Manila and the UP Los Baños to provide a platform for technology transfer, investment promotion and facilitation, and collaboration among the parties.
This includes investment promotion activities such as domestic roadshows and technology matching events to raise industry stakeholders’ awareness of commercialized biofertilizer and herbal medicine technologies.
Industry Development Service Executive Director Ma. Corazon Halili-Dichosa stated that they will first conduct domestic investment roadshows across three strategic regions—Regions 3, 6, and 10—to promote technologies developed by UP Manila and UP Los Baños that are ready for commercialization.
In particular, the Technology Transfer and Business Development offices of UPM and UPLB will play a vital role in promoting the commercialization of their technologies as they will connect developers with private investors and users.
“It is high time to put the spotlight on Pinoy-made products and showcase the innate Filipino-vation spirit. As we move forward, I'm confident that our collaboration will yield positive outcomes in terms of investment generation. After all, UP does not only produce great minds but also the best results,” BOI Managing Head and Trade Undersecretary Ceferino Rodolfo said.
UPM’s Institute of Herbal Medicines, which oversees the National Integrated Research Program on Medicinal Plants, is crucial in ensuring that Filipino consumers have access to safe, effective, and affordable natural medicines from the country’s own herbal resources.
“We are formalizing our partnership with the signing of this MOU. The document reflects our shared commitment to the triple goal of advancing sustainable agricultural production, enhancing public health, and strengthening the local economy,” UPM Vice Chancellor for Research, Dr. Dalmacio said.
On the other hand, UPLB has produced commercially viable biofertilizer products and technologies through its National Institute of Molecular Biology and Biotechnology (BIOTECH).
“Today marks a milestone in our ongoing journey towards achieving sustainable development for science and technology and innovation. This MOU marks a new chapter of government-academe collaboration,” UPLB Vice Chancellor for Administration Dr. Rolando T. Bello said.
Biofertilizers and herbal medicines are key industries prioritized in the BOI’s five-year agribusiness plan, which are expected to yield significant economic benefits, including job creation and increased value addition.