BONTOC, Mountain  Province, April 24 (PIA) -- The Department of Science and Technology (DOST) continues encouraging and assisting micro, small and medium enterprises (MSMEs) in the province to adopt technology innovations to improve their operations, products, services, and increase their productivity and competitiveness.

For the first quarter of 2018, DOST has granted a total loan of Php1, 172,400 for three projects in the province under the Small Enterprise Technology Upgrading Program (SETUP).

Last year, the Mountain Province Science and Technology Center (MPSTC) approved ten projects with a total loan of Php8, 947,500 which was used by the MSMEs for technology acquisition and procurement of production machineries.

The SETUP provides a no-interest, no collateral loan to individuals or groups who have maintained their business for at least three consecutive years to assure the capability of the entrepreneurs to sustain their business and pay back the loan which is payable within a maximum of three years.

The program focuses on food processing; gifts, house wares, decors; furniture; marine and aquatic resources; horticulture and agriculture; metals and engineering; health products and pharmaceuticals; and information and communication technology/electronics.

Aside from the 10 projects assisted in 2017, the MPSTC also continues monitoring, providing technical assistance and market promotion to 53 SETUP-assisted projects. 

They benefited from the interventions such as equipment/facility upgrading/acquisition, technology trainings, technical assistance in the production lay-out, consultancy services specially manufacturing productivity extension program, product promotion during fairs in the province and in the region, assistance towards Food and Drug Administration-License to Operate licensing, conceptualization of appropriate label design, proposal preparation and technology needs assessment.

DOST reported about 270 individuals who have benefited from the interventions were able to increase their sales. (EDT/JBS-PIA CAR, Mt. Province)