BACOLOD CITY -- The Department of Science and Technology (DOST) urged enterprises in Negros Occidental to invest in research and development (R&D) to become competitive.
This was underscored by Undersecretary for Regional Operations Brenda Nazareth-Manzano during the Forum on Business Innovation through Science and Technology (BIST) for Industry Program held at Seda Capitol Central here on Tuesday.
“That’s the only way forward. If you want to be in the race of new developments and all that, there’s no other way, but to do research and development,” she said.
Nazareth-Manzano pointed out that if enterprises want to stay competitive in the industry then they must invest in R&D.
Although she acknowledged that it could be costly and time consuming for some enterprises, the investment would still bring an advantage.
“But in the end, it will pay back a lot,” she added.
Many companies who invest in research really grew a lot, twice or even thrice, the DOST official said.
The forum, attended by some 60 owners of small, medium and large scale enterprises in Negros Occidental, presented the BIST program, which is a sub-program of the agency’s Science for Change initiative.
BIST is aimed at accelerating the innovation capacity of Filipino-owned companies or their consortium by encouraging the private sector to undertake R&D.
As new technology acquisition and research and development have been proven to spur innovation, facilitate growth, and improve production efficiency, the BIST is designed to assist local enterprises to innovate and develop competitiveness and adapt to changing global dynamics, mainly by undertaking R&D.
Under the program, the DOST will provide 70 percent financial assistance to the private sector through licensing of technology and purchase of equipment. The remaining 30 percent will be shouldered by the recipient-enterprise.
Nazareth-Manzano said the DOST is launching the program in Negros Occidental and other areas, where there is still no or fewer number of recipients among the small, medium and large enterprises.
Meanwhile, another funding opportunity is the Collaborative Research and Development to Leverage Philippine Economy (CRADLE), which provides up to PHP5 million funding to collaborative R&D projects of the academe and industry.
Also through the NICER or Niche Centers in the Regions for R&D, the DOST provides institutional grants to higher education institutions to establish R&D centers in the regions to promote regional development. (PNA)