The Technology Application and Promotion Institute (DOST-TAPI) launched the Call for Abstracts for its Invention and Innovation programs, which offer a range of funding opportunities to propel tech-driven ventures to success.
Dubbed as the Further Forward campaign, DOST-TAPI’s Call for Abstracts invites eligible proponents to submit their abstracts in applying for its current program offerings, including the Technology Innovation for Commercialization (TECHNiCOM), Venture Financing Program (VFP), and I-Tech Lending Program.
Submission of abstracts is open until March 31, 2024 at 5 PM. Only proponents with approved abstracts will have the opportunity to develop their submissions into full-blown proposals through the proposal enhancement activities to be held during the face-to-face regional writeshops.
This year’s call puts premium on the following priority sectors for TECHNiCOM and VFP: Smart Electronics, IoT and Automation in Industrial Settings, Software/platform-as-a-service, Robotics/Mechatronics, Transport System Technologies, Machining and Fabrication Innovation, Water Resource Management Technologies, Renewable/Sustainable Energy Technologies, Nutraceuticals, New Farming Technologies, Farm Mechanization and Digital Integration, and Disaster Risk Reduction Technologies. These sectors were identified based on the DOST-Harmonized National Research and Development Agenda and Sustainable Development Goals. They also contribute to the economic growth of our country, promising readiness for pre-commercialization and commercialization.
Recognized as one of DOST-TAPI’s flagship programs, TECHNiCOM provides multimillion grants to pre-commercialization projects and targets to fast-track the market readiness of locally-developed technologies.
The program is open to tech-based startup companies, state universities and colleges (SUCs), private higher education institutions (HEIs), and research and development institutions (RDIs).
In addition, VFP offers a soft loan of up to P2 million to tech-based MSMEs in the hopes of boosting their commercialization efforts and capaciting them to satisfy growing consumer demands. Eligible applicants for VFP include MSMEs with 60 percent Filipino ownership in operation for at least three years.
Beneficiaries of TECHNiCOM and VFP were recognized in DOST-TAPI’s culminating activity, Lunduyan, held last September 2023. More than a celebration of Filipino ingenuity, Lunduyan served as an avenue to connect the beneficiaries with potential investors to further their technopreneurial endeavors.
Meanwhile, the I-TECH Lending Program, in collaboration with the LANDBANK of the Philippines (LBP), offers a specialized lending window featuring low-interest financing for the commercialization of patented inventions.
This program is geared towards aiding Filipino inventors in securing funding, specifically for the acquisition of capital and labor required for expanded production. I-TECH is open to individual inventors and enterprises with a deed of assignment.
This call for proposals represents an opportunity for aspiring technopreneurs to access crucial support and resources to advance their projects and contribute to the country’s innovation ecosystem.
Interested applicants may review the full program guidelines and application steps by visiting our website: http://122.54.18.250/call-for-abstracts
Follow DOST-TAPI on our socials for more updates and announcements regarding the call, virtual orientations, and the upcoming face-to-face regional writeshops:
Facebook: https://www.facebook.com/DOST.TAPI
LinkedIn: https://www.linkedin.com/company/dosttapi/
Email: [email protected]
Quoted Statements
“With the Further Forward campaign, our aim is to streamline access to funding assistance for commercialization readiness of our local inventors and innovators, empowering them with the resources needed to bring forward their projects and ultimately bolster our nation’s innovation landscape.“ – Atty Marion Ivy D. Decena, Director TAPI
“We restructured our application process, implementing abstract submissions prior to the full-blown proposal submission for the efficient checking of eligibility and documentary requirements. More than that, DOST-TAPI is dedicated to assist applicants at every stage, providing guidance and assistance through regional proposal enhancement writeshops.“ – Josiah M. Poyugao, Strategic Communications and Public Relations Unit
