DOST assists seven entrepreneurs in MP

By Juliet B. Saley

BONTOC, Mountain Province -- The Department of Science and Technology assisted last year seven micro, small and medium enterprises (MSMEs) in the province under its Small Enterprise Technology Upgrading Program (SETUP).

DOST provincial office data  showed  the agency granted these  MSMEs a total loan of P2,365,233.84. 

This amount was given in terms of technology acquisition or production machineries depending on the needs of the applicants per assessment of the DOST.

The acquired equipment are under the supervision of the DOST until such time that the loan would have been paid then it will be turned over to the owner of the business firm.

There were also two MSMEs that submitted their proposals last year which are still undergoing evaluation by the regional technical evaluation committee

For the period 2005 to 2014, DOST has assisted  35 MSMEs  and four of these have already fully paid their soft loan and DOST has already turned over the equipment.

The SETUP is a nationwide strategy encouraging and assisting MSMEs to adopt technology innovations to improve their operations, products, services, and increase their productivity and competitiveness.

The program focuses on food processing; furniture; gifts, house wares, decors; marine and aquatic resources; horticulture and agriculture; metals and engineering; health products and pharmaceuticals; and information and communication technology/electronics.

The SETUP provides a no-interest, no collateral loan to individuals or groups who have maintained their business for at least three consecutive years to assure the capability of the entrepreneur to sustain their business and pay back the loan which is payable within a maximum of three years.

Gwyncel Bacwaden, provincial DOST chief said with the acquisition of new technologies, the beneficiaries improved quality of their production, increased their  productions/gross sales, and increased employment.

          Part time workers of some of the MSMEs became regular and are already enrolled in the Social Security System and Philhealth.