Cordillerans avail of Science department's program

Wednesday, July 13, 2011

A HUNDRED beneficiaries in the Cordillera are being funded by Small Enterprise Technology Upgrading Program (Set-Up), one of the projects implemented by Department of Science and Technology (DOST).

This project came because of the critical role of micro, small and medium scale enterprises (MSMEs) in generating employment, earning foreign exchange and stimulating growth and development particularly in the rural areas.

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Set-Up is a nationwide strategy to encourage and assist MSMEs in adopting innovations to improve their operations to boost productivity and competitiveness.

"DOST launch Set-Up in response to PGMA's (former President Gloria Macapagal-Arroyo) call for more focused programs of assistance for MSMEs," said DOST-Cordillera Science Research Specialist Jaemie de Castro Ruiz-Chua.

Set-Up also enables firms to address their technical problems through technology transfer and technological interventions to improve productions through better product quality, human resources development, cost minimization, waste management and other operation related activities.

"The program covers food processing, furniture, gifts, toys, house wares, handicrafts, natural fibers, dyes, marine and aquatic resources, horticulture, metals and engineering," said Chua.

In order to assist MSMEs, "We support the participating firms from the provision of technology, product standards and testing, packaging and labeling, database management information system and linkaging and networking," Chua added.

There are a hundred beneficiaries supported by Set-Up. Ifugao got the highest number of beneficiaries with 21, Benguet - 18, Baguio - 18, Kalinga - 16, Mt. Province - 14, Apayao - 8, and Abra - 5.

"This is open to all individuals with business enterprise where we provide no interest loan payable in three years," said Chua.

Requirements for the project include the proponent's letter of interest to avail of the financial assistance and commitment to payback, including their proposed repayment schedule; copy of business permit and licenses; financial statements for at least the past three years audited by certified accountant; projected income statement for the next three years audited by certified accountant; certificate of registration of business name with DTI, SEC or CDA; board resolution authorizing the borrowing and designating authorized signatories for financial assistance (if available); three quotations (pre-canvass) from equipment supplies/fabricators; and complete technical design or drawing of the equipment to be purchased or fabricated.