BACOLOD City¬†¬Ė The Department of Science and Technology (DOST) allocated a P17.7-million fund for the implementation of technology innovation projects of micro, small, and medium enterprises (MSMEs) in Negros Occidental.
Most of the existing beneficiaries in the province are those in food processing and metals and engineering sectors, said DOST provincial director Allan Francis Daraug.
The funding assistance is provided through the agency¬ís Small Enterprise Technology Upgrading Program (SET UP) Innovation Fund (i-Fund).
SET UP is the DOST¬ís key strategy to boost the competitiveness of MSMEs through the provision of science and technology-based interventions.
Daraug noted the beneficiaries will repay the total cost of the assistance to the government for three years without interest.
These include technical consultancy services, product development, process and equipment upgrading, technology training, laboratory and testing services, and packaging and labeling assistance.
Priority sectors are those belonging to food processing, furniture, gifts, decors and housewares, agriculture, aquaculture and marine, metals and engineering, information and communications technology, and pharmaceuticals products.