DOST-TAPI invites MSMEs to submit proposals for Venture Financing Program
The Department of Science and Technology - Technology Application and Promotion Institute (DOST-TAPI) invites enterprises to submit proposals for the second wave of funding support under the Venture Financing Program (VFP).
The Venture Financing Program (VFP) is a program of the DOST-TAPI that accelerates the commercialization of innovative technologies or inventions by providing the necessary funding support to technology-based Micro, Small, and Medium Enterprises (MSMEs).
Eligible proponents for this Program are Filipino-owned MSMEs existing for at least three (3) years. They should be duly registered Sole Proprietors or Corporations or Partnerships or Cooperatives with at least sixty percent (60%) of ownership belongs to Filipino citizens.
They should also be a technology-based company and must be one of the following: have an active intellectual property (IP) filing, an adopter of DOST-generated/funded technology, a previous or current DOST beneficiary, or a technology licensee.
Eligible proponents applying for the Program should currently be in the commercialization phase, not in the discovery or pre-commercialization phase.
The Program will cover seventy percent (70%) of the project cost which shall be refunded by the proponent without interest. DOST-TAPI shall cover a maximum of Two Million Pesos (?2,000,000.00). At least thirty percent (30%) of the project cost shall be covered by the proponent as a counterpart fund.
The period of refund shall not exceed one (1) year after the release of funds in addition to the six (6) months grace period.
Deadline of submission is until 31 May 2023, 5:00 PM.
To know more of the program and the full list of requirements needed to be submitted, kindly visit http://www.tapi.dost.gov.ph/call-for-proposals/vfp or their Facebook page https://www.facebook.com/DOST.TAPI. Interested parties may also contact the DOST-TAPI Public Assistance Office through their email info@tapi.dost.gov.ph and telephone number 8837-2072 to 82 local 2153. (By Rosemarie C. Señora, DOST-STII)
