Deadline: 15-Aug-22
The Technology Application and Promotion Institute (DOST-TAPI) has announced an open call for the Venture Financing Program for Start-ups and Technology-based Enterprises.
The Venture Financing Program (VFP) for Start-Up and Technology-based Projects is a program of the Technology Application and Promotion Institute (DOST-TAPI) that accelerates the commercialization of innovative technologies or inventions by providing the necessary funding support to IP rights owners/Assignees or technology-based start-up projects.
The Program aims to improve the viability and enhance the competitiveness of start-up companies, inventors or technology-based projects through technical and financial assistance.
Priority Sectors
- Food Processing
- Furniture
- Gifts, Decors, and Handicrafts
- Agriculture or Marine or Aquaculture
- Metals and Engineering
- Information and Communication Technology (ICT)
- Pharmaceuticals, Health, and Wellness products
- Manufacturing and Industrial processing
Funding Information
- DOST-TAPI shall cover a maximum of Two Million Pesos (₱2M) per project.
- The period of refund shall not exceed three (3) years after the release of funds in addition to the six (6) months grace period.
Outcomes
- Increased access of women to all programs and services of the Institute
- Enhanced gender responsiveness in the entire operation of the Institute to ensure that services are participatory, fair, empowering, and sustainable; and
- Enhanced equal opportunity principles of men and women beneficiaries of VFP in their employment process.
What are they looking for?
The Program finances the cost of acquisition or fabrication of the required production equipment that utilize emerging technologies and/or innovative technologies that improve production efficiency, increase income and sales, and improve product quality.
Eligibility Criteria
- Eligible proponents for this Program are Filipino-owned MSMEs. They should be duly registered Sole Proprietors or Corporations or Partnerships or Cooperatives at least sixty percent (60%) ownership of which belongs to Filipino Citizens.
- They should be IP-based with valid IP from the time of their application and/or a technology-based company with potential for IP application.
- For Start-up Companies applying for the Program, the Proponent must be able to show proof that technologies being utilized are emerging, innovative, women friendly or gender responsive such as but not limited to Intellectual Property (IP) documents, proof of prior art search (if available), or any other documents necessary to identify its novelty.
- For technology-based projects, the MSMEs existence of business must not be more than five (5) years form the date of establishment. With valid IP or technologies being utilized are within the whitefist of Technologies as the basis for the evaluation of Emerging Technologies.
- The list could come from the DOST Councils, Board of Investment (BOI), etc. NIBRA-NRCP and DOST PCIEERD Compendium of technologies.
For more information, visit Technology Application and Promotion Institute.
For more information, visit http://www.tapi.dost.gov.ph/call-for-proposals/vfp
