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DOST V-SETUP releases P15.15 M fund to 21 newly-enrolled firms/micro small and medium enterprises in Bicol

31 January 2017

The Department of Science and Technology (DOST) Region V conducted the Project Fund Turnover, Batch 1 for 2017 for the Small Enterprise Technology Upgrading Program (SETUP) on 16 January 2017 at DOST V Conference Room Regional Center Site, Rawis, Legazpi City. SETUP is DOST V’s banner program that promotes, establishes and upgrades business enterprises throughout the country.

Dir. Tomas B. Briñas, Regional Director, DOST V released the SETUP fund in the amount of Fifteen Million One Hundred Fifty Two Thousand Four Hundred Ninety Four Pesos (₱ 15,152,494) to twenty one (21) firms/micro small and medium enterprises (MSMEs) in the Bicol Region. DOST V has enrolled these firms under SETUP as new technology adoptor-beneficiaries from the six (6) provinces: Albay (2); Camarines Norte (4); Camarines Sur (4); Catanduanes (1); Masbate (5) and Sorsogon (5) funded under CY 2016 GIA.

Of the twenty one (21) firms, nine (9) are owned and managed by women micro-entrepreneurs (WMEs) that have also been newly-enrolled under the Gender Responsive Economic Action for the Transformation (GREAT) Women Project 2 (GWP2). The Regional Convergence Group (RCG) where DOST V is an active member implements GWP2 nationwide led by the Philippine Commission on Women (PCW).

DOST V SETUP and RCG-GWP2’s WMEs are processors/ manufacturers of fish products, advertising materials (tarpaulins, stainless steel, glass awards and signages); needlecrafts, metal works, mangrove crab and prawn, bakery products and fresh palay.
The other twelve (12) firms are engaged in food production (bakery, dried fish, taro chips, bottled sardines and pili candies); agriculture (poultry, piggery and high quality rice) and other non-food businesses (candle making, packaging and labeling, customized garments and accessories, concrete hollow blocks and metal sheets).

With SETUP anchored on “Science for Change” Program, DOST V management through Dir. Briñas strongly supports and advocates for technology transfer and commercialization, enterprise development and women empowerment that will contribute much to S&T advancement, regional growth and development. (Dr. P.O.Lucena/Ms. A.A.Zamudio, DOST V)