NegOcc firms urged to avail of DOST innovation program

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BACOLOD CITY-- The Department of Science and Technology (DOST) is urging enterprises in Negros Occidental to avail of government assistance through the Business Innovation through Science and Technology (BIST) for Industry Program.

Allan Francis Daraug, provincial director of DOST-Negros Occidental, said that as of Monday, five enterprises in the province have already applied for the program.

“We encourage more local enterprises to apply as the program will boost their business operations,” he said.

The DOST Office of Undersecretary for Research and Development (R&D) has set the deadline for submission of applications on June 14.

“The application must be sent directly to the DOST Central Office, preferably one week before the submission deadline,” Daraug said.

The BIST, a sub-program of the agency’s Science for Change initiative, was launched in Negros Occidental last month.

The program aims at accelerating the innovation capacity of Filipino-owned companies or their consortium by encouraging the private sector to undertake R&D.

Under the program, the DOST shall provide 70 percent financial assistance to the private sector through licensing of technology and purchase of equipment. The remaining 30 percent will be shouldered by the recipient-enterprise.

New technology acquisition and R&D have been proven to spur innovation, facilitate growth, and improve production efficiency. 

BIST was thus designed to assist local enterprises to innovate and develop competitiveness and adapt to changing global dynamics mainly by undertaking R&D.

The proposed technology acquisition with its corresponding R&D activities must be implemented for a maximum period of five years.

The refund of acquisition cost shall commence on the third year of the project. 

Repayment shall be for a period of three to five years at zero-percent interest.

DOST said all proposals for technology acquisition submitted should be in line with priority industries including agri-processing, integrated circuit design, creative or knowledge-based services, information and communication technology, food and nutrition, environment and climate change, agriculture, fishery and forestry, semiconductor and electronics, renewable energy, industrial waste treatment, infrastructure and logistics, and manufacturing.(PNA)

Source: https://www.pna.gov.ph/articles/1070740

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