Thursday, June 20, 2024

Gov’t inaugurates P12.7-M tech business incubator in Ilocos Norte

BATAC, ILOCOS NORTE – The Department of Science and Technology and the Mariano Marcos State University recently launched the Bannuar Technology Business Incubator (TBI) to cater to the creative industries and the business incubators of Region 1. 

The new facility was funded through the DOST’s Philippine Council for Industry, Energy and Emerging Technology Research and Development (PCIEERD).  

Amounting to P12.7 million, the TBI project also aims to provide resources and guidance to startups, including individuals with viable tech products.

Enrico Paringit, executive director of DOST-PCIEERD, expressed hope that the DOST-MMSU Bannuar TBI can help the 57,989 micro, small, and medium-sized enterprises (MSMEs) in the region. 

“The Bannuar TBI comes on the heels of the upward trajectory of the creative industries.  We are looking at this facility as a germination pod for future technology-based creative startups and spinoffs,” he said. 

Paringit emphasized Bannuar TBI’s mission which links distinctive cultural legacy and genuine entrepreneurship.  

“We anticipate local partnerships between DOST, other government agencies, local incubators, and other players in the startup scene to be forged in the Bannuar TBI. We hope that they find their North in the startup scene through this launch,” he added. 

Prof. Armie C. Sabugo, who is leading the Bannuar TBI project, stressed that the project will make use of the university’s existing infrastructure, facilities, and tools to promote these local enterprises, particularly in the creative sectors.

“Some in the list are the looming weaving center of the College of Industrial Technology in Paoay Campus, which served as a location for several university-sponsored and collaborative trainings. It can also help the bamboo processing plant at the Crops Research Laboratory complex, which produces engineered kawayan (e-kawayan) goods,” Sabugao said.

The TBI also aims to assist the university’s Research and Development (R and D) Station and the Center for Innovative Materials in Emerging Applications (CIMEA), which will focus on the conduct of R&D activities toward material innovation using local sources.

The DOST-PCIEERD’s Higher Education Institution Readiness for Innovation and Technopreneurship Program (HEIRIT) provided funding for the Bannuar TBI.

The HEIRIT Program was initiated to assist universities in meeting the Council’s TBI financing requirements and to provide managers with the skills they need to operate TBIs connected with DOST efficiently.

The growing need for early-stage entrepreneurial support, particularly in various locations across the Philippines, is something that HEIRIT aims to solve.

Bannuar TBI is one of the 47 TBIs that DOST-PCIEERD supports.

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