THE Department of Science and Technology (DOST) is still accepting more applications for its Forum on Business Innovation through Science and Technology (BIST) program from enterprises in Negros Occidental.
Allan Francis Daraug, provincial director of DOST-Negros Occidental, said the office of Undersecretary for Research and Development (R&D) has set the deadline for submission of application on June 14.
Daraug said that initially there are five enterprises in the province who already applied for the program.
"The application must be sent directly to DOST Central Office, preferably one week before the submission deadline," he said, adding "we encourage more local enterprises to apply as the program will boost their business operations."
Launched in Negros Occidental in April this year, the BIST program is a sub-program of the agency's Science for Change initiative.
It is aimed 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.
Thus, BIST was 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, semi-conductor and electronics, renewable energy, industrial waste treatment, infrastructure and logistics, and manufacturing.
In terms of requirements, these include full-blown proposal following the DOST form, letter of intent, copy of business permits and licenses, certificate of registration, financial statements, and curriculum vitae of management and technical team.
Daraug said the same deadline for submission was also set by the DOST for its Collaborative Research and Development to Leverage Philippine Economy (Cradle).
The program, which is another funding opportunity, provides up to P5 million funding to collaborative R&D projects of the academe and industry.
Its primary goal is to help solve the problems of the industry through R&D projects undertaken by the academe.