DOST lauds local MSMEs for complete repayment of gov’t financial assistance

Two local micro, small and medium enterprises (MSMEs) in Iloilo City were granted with the Certificates of Completion by the Department of Science and Technology Region VI (DOST VI) after completing their repayment for the financial assistance they availed under the Small Enterprise Technology Upgrading Program (SETUP) – Innovation-Enabling Fund (iFund).

 

The DOST VI commends the M. Estomo Fabrication and Stainless Works and Plaza Jaro Delicacies for completing their repayment amid the COVID-19 crisis.  The metal fabrication facility of M. Estomo Fabrication and Steel Works has improved through the DOST VI SETUP iFUND.  The company now provides high-grade stainless works and fabrication services of stainless cabinets, stainless tables, and stainless sink bowls.  Moreover, the technical assistance for Plaza Jaro Delicacies has helped the company to continually produce good quality delicacies that are perfect for pasalubong.

 

The DOST has been implementing the SETUP which includes the provision of iFund to qualified MSMEs.  The iFund is a major technology transfer and commercialization program under SETUP which assists with the upgrading of existing production facilities of the MSMEs/organizations as well as the acquisition of other critical requirements in the production line.  The program allows MSMEs to acquire appropriate technologies to improve production efficiency, product quality, and competitiveness.  Under this modality, the beneficiaries refund the total cost of the assistance to the government without interest in a pre-determined period.

 

DOST SETUP covers the following sectors – food processing, furniture, gifts, decors, handicrafts, agriculture/marine/aquaculture, metals and engineering, ICT, pharmaceuticals, health, and wellness products.  DOST VI implements various programs and projects and also provides a wide range of services to its customers.  Further details about the DOST VI programs and services can be accessed through the DOST VI website http://region6. dost.gov.ph.  (SSalazar/DOST 6)