Tech Business Incubator to Open in Taguig

Article excerpt

MANILA, Philippines - The government will open the Bicutan Science and Technology Complex (BSTC), a technology business incubator (TBI) in Bicutan, next year to encourage nurturing of startups seen to contribute to industrial development.The BSTC-TBI will prioritize assistance to five industries - processed food, health and wellness products, machinery, parts and engineered products, and indigenous fibers and materials."TBIs are expected to provide support to innovators because innovation is clearly an essential factor to economic development," said Zorayda V. Ong, program leader for the TBI, in an interview at the TBI Marketplace-Filippinovation Forum.Among the important aids of the BSTC-TBI to startups will be the facilitation of grants and venture financing, provision of common laboratory facilities, promotion through trade fairs, patenting and licensing, and prototype development.The BSTC-TBI is a collaboration of six DoST agencies that have expertise in the following fields: Food and Nutrition Research Institute (FNRI), Industrial Technology Development Institute (ITDI), Metals Industry Research and Development Center (MIRDC), Philippine Textile Research Institute (PTRI), Technology Application and Promotion Institute (TAPI), and the Technology Resource Center (TRC). …