The DTI is pushing a P300-million budget for the implementation next year of a new law providing incentives to registered startup companies, as it hopes to release its IRR within this month.
With the confidence borne from faith in their hard work, the seventh batch of technopreneurs nurtured by local incubator IdeaSpace presented their start-ups in at IdeaSpace Demo Day held on Tuesday, October 22, in Makati City.
The DOST's Philippine Council for Health Research and Development (PCHRD) said it is looking at two ways to fast-track its technology transfer program to spur the growth of health startups in the country.
The new law aims to help startups and startup enablers by providing incentives like travel grants, access to a Startup Venture Fund, and assistance in getting visas and business permits.
Under the measure, the Department of Foreign Affairs (DFA) is mandated to create Startup Visas for prospective or current foreign owners, employees, and investors of a startup or startup enabler registered in the Philippines.
Two measures principally sponsored and/or authored by Sen. Paolo Benigno ?Bam? Aquino IV moved closer to becoming laws after their bicameral conference committee reports were ratified by the Senate late Wednesday, Feb. 6.
Recognizing the different efforts of the DOST, DTI, and DICT to nurture technology business incubators (TBIs) in the country, the MOU binds the three departments to harness their programs and projects in putting up a conducive business ecosystem for startups.
The bill also provides for a P1-billion Innovative Startup Venture Fund, which shall be administered by the Department of Science and Technology, to cover for initial or supplemental investment requirements of certified startups.
The Intellectual Property Office of the Philippines (IPOPHL) held a dialogue with local start-ups to encourage them to prioritize intellectual property protection.
