Recognizing the vital role of the said sector to the Philippine economy, the National Economic Development Authority reported that MSMEs in Davao region increased by 7 percent from 23,627 in 2020 to 25,184 in 2021 despite the ongoing COVID-19 pandemic.
The DOST 11 in a statement said through SETUP, MSMEs are provided access to technological innovations that can boost the business' productivity and efficiency. By providing a pool of Science and Technology (S&T) interventions which includes technology acquisition, MSMEs are assisted to increase their competitiveness in the market.
The DOST 11 said they already provided S&T assistance to more than 450 firms or institutions in Davao region with 324 technology interventions as of the first semester of 2022.
"DOST 11 also funded 11 SETUP projects in the first semester this year with a cumulative funding portfolio of P14 million," the statement said.
It said that to ensure the effective implementation of SETUP, DOST 11 staff regularly monitors the project to identify the problems encountered by the business owners and determine their additional needs for improvement.
The statement said DOST's pool of S&T interventions include the provision of technical assistance, human resources training, consultancy services, designing of functional packages, product standards testing, and database management system.
SETUP has revitalized and transformed MSMEs in the region with technology-backed activities and strategies, especially in the onset of the COVID-19 pandemic. These innovations have opened up a new avenue for economic growth for the region.
Photo: DOST 11
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