DOST- IX SETUP Funded MSMEs amounting to Over P61.4M in 2018, and funds P8.8M more in the 1st Quarter of 2019

SETUP Updates The Department of Science and Technology Region IX (DOST-IX) through the Small Enterprise Technology Upgrading Program (SETUP) funded over P61.4M to MSMEs in different sectors in the region in 2018.

     A total of P61,485,689.99 was granted to different MSMEs in the Region under the 4 strategic areas, Zamboanga City, Zamboanga Sibugay, Zamboanga del Sur, and Zamboanga del Norte.

     Zamboanga del Sur was granted P24,111,545.99. This was awarded to Seventeen (17) MSMEs under the Agriculture/ Horticulture, and Metals and Engineering Sectors. 14 firms coming from the Agriculture/ Horticulture and 3 from the Metals and Engineering Sectors.

     Zamboanga Sibugay Province received P17,022,850.00 granted to 9 firms from the Agriculture/ Horticulture, 2 from the Metals and Engineering, and 2 from the Food Processing Sectors.

     Zamboanga del Norte was granted P15,286,939.00 distributed to 4 firms from the Agriculture/ Horticulture, 2 from the Food Processing Sectors, 1 from the Metals and Engineering, 1 from the Furniture, 1 from the ICT, and 3 from the Solid Waste Management Sectors.

     Zamboanga City and Isabela City also received P5,064,355.00 granted to 5 firms from the Food Processing, 1 from the Metals and Engineering, 1 from the Gifts, Decors, and Handicrafts Sectors, and 1 for the equipment used in producing hollow blocks.

     DOST-IX SETUP started the year funding more MSMEs in the region. In the first quarter of the year, more than P8.8M was granted to the firms from the 4 strategic areas. P7,606,454.01 was distributed to the Agriculture/ Horticulture Sector, and P1,240,000.00 to Metals and Engineering.
SETUP, the department’s flagship program aims to assist Micro, Small, and Medium Enterprises in the country. This is DOST way to reach out to the public and the way to support the growth of MSMEs. This program makes it Possible for entrepreneurs to upgrade their existing, or avail of appropriate technologies.

Source: http://region9.dost.gov.ph/news/780-dost-ix-setup-funded-msmes-amounting-to-over-p61-4m-in-2018,-and-funds-p8-8m-more-in-the-1st-quarter-of-2019

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