Venture financing is aiding the Philippines’ micro, small and medium enterprises (MSMEs) through the LIGTAS COVID program of the Department of Science and Technology – Technology Application and Promotion Institute (DOST-TAPI).
The DOST-TAPI reports it has fully implemented the Level-up Innovation Government Support for Technologies against the Spread of COVID-19 program (LIGTAS COVID-19) which liberalizes the grant of incentives for the manufacturing or importation of critical equipment and supplies related to activities that respond to mitigating the risks against the coronavirus disease.
LIGTAS COVID provides financial assistance to qualified MSMEs to enable them to acquire raw materials for the production of relevant essential products used against the spread of the deadly COVID-19 virus.
Prime Innov8 Manufacturing Co., which manufactures disinfectants, is one of the six beneficiaries of LIGTAS COVID-19 in 2020. The projects received financial support with an approximate aggregate amount of eight million pesos.
The assistance provides as much as one million pesos per proponent provided that the proponent shoulders at least 30 percent of the total project cost.
LIGTAS COVID-19 Program is now accepting project proposals for 2021.
For more information on the LIGTAS COVID-19 Amended Guidelines, please visit this link or contact 8837 2071 local 2157 and email info@tapi.dost.gov.ph.
DOST support for entrepreneurs includes the Enterprise Tech program for returning OFWs to boost their businesses and technology support for Filipino women social entrepreneurs.
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