Iloilo City – The Department of Science and Technology (DOST) and the Unified Movement for Western Visayas to Accelerate Startup and Spin-off Development (UMWAD) Region VI hosted the 7th National Technology Business Incubator (TBI) Summit in the enchanting City of Love, Iloilo City, showcasing the government’s robust support for startups and startup enablers in the country.
“DOST will never falter in providing a range of resources, services, and facilities needed during the development stage to help our technology-based startups navigate the challenges of the business landscape,” Secretary Renato U. Solidum Jr. said.
DOST’s TBI Program aims to promote innovation and technopreneurship for the country’s socio-economic development in a knowledge-based world economy. It hosts startups and offers business development services, office space, and technical facilities to get their businesses established.
At present, the DOST TBI Network has 54 members, including 32 industry-based TBIs and 22 TBIs on agriculture and aquaculture that are located across the nation's higher education institutions and state universities and colleges.
The 7th TBI Summit featured panel sessions and group discussions covering topics such as success stories of homegrown startups that achieved global recognition and strategies for preparing local startups to become global game-changers.
DOST Assistant Secretary for Technology Transfer, Communications, and Commercialization Dr. Napoleon Juanillo Jr. emphasized the importance of sharing best practices in the startup ecosystem.
“Learning from the homegrown startups that went global is important because it allows us to understand the strategies and approaches that led to their success," Juanillo said.
The Summit also marked the signing of Memoranda of Understanding (MOUs) with the 16 Regional Startup Enablers Consortia and their partners through the Regional Startup Enablers for Ecosystem Development (ReSEED) Program of DOST-PCIEERD.
The ReSEED Program aims to strengthen regional startup ecosystems by providing funding support to PCIEERD-funded TBIs to lead in establishing and formalizing a Regional Startup Ecosystem Consortium.
“We are confident that the ReSEED Program will provide invaluable resources to aspiring entrepreneurs in the region and put forward the Startup Ecosystem in the Philippines, driving economic growth and innovation,” said Dr. Enrico C. Paringit, DOST-PCIEERD Executive Director.
The 7th TBI Summit is part of the annual Philippine Startup Week. This week-long event brings together local startups, enterprises, investors, and budding entrepreneurs contributing to the flourishing Philippine startup ecosystem.