DOST bares initiative to help startups

THE Department of Science and Technology (DOST) bared on Monday its initiative to help fast-track the commercialization of startups and enterprises' innovations.

At the Bagong Pilipinas televised briefing, DOST Secretary Renato Solidum Jr. said that the agency's «Propel» program aims to provide Filipino startups and science and technology (S&T) enterprises with access to DOST's comprehensive suite of services, facilities and programs, helping them bring their innovations to market and scale up their businesses.

Propel was rolled out last December with a two-step vision: To accelerate innovation in the Philippines and to propel innovation from the Philippines.

«This means it's not just national but also the global market. To do this, we did the integration of the 12 support services of the DOST, including legal service, market intelligence, and others to facilitate the interaction of technology producers and investors to help start dialogues. If they want to establish a company, improve their product, it's up to them. This is where we can see the potential of the Filipino, that there can be a spin-off and startup of companies through this,» Solidum said.

«We want to open opportunities for our technology producers and make them more sustainable — their inventions, commercialize their product research. Doing this to scale up their innovation will generate us more enterprises and more jobs,» he added.

Through Propel, the DOST will leverage digital platforms to open up remote collaboration and market access, enabling Filipino businesses to showcase their products to global audiences.

This targets scientists and early to mid-stage science and technology innovators and will provide extensive support in business model development, technology and market validation, legal advice, marketing/promotions, and capital raising, Solidum added.

Meanwhile, the DOST head also shared that the DOST has already assisted over 120 Filipino scientists who have returned to the country to date through its Balik-Scientist Program (BSP).

The BSP is an initiative which aims to promote information exchange and accelerate the flow of new technology into the country through