With the goal to sustain the growth and development of micro, small, and medium enterprises (MSMEs) nationwide, the Department of Science and Technology (DOST) strengthens its banner program, Small Enterprise Technology Upgrading Program (SETUP).
DOST IX Regional Director Brenda L. Nazareth-Manzano said that for this year 2016, a total of PhP55M is available for innovation support assistance to qualified MSMEs in Region IX. This budget represents a 37.5% increase from 2015 SETUP projects which amounted to PhP40M. In 2015 alone, a total of 40 MSMEs were assisted which contributed to the creation of 748 new jobs.
Overall, in 15 years of implementation of SETUP in Region IX, the program has assisted 231 firms / companies with total funding support of PhP158.94M, which consequently employed some 25,053 local constituents.