Eleven micro, small, and medium enterprises (MSMEs) in Negros Oriental received technology upgrading, worth more than P7 million, through the Department of Science and Technology Small Enterprise Technology Upgrading Program Innovation-Enabling Fund (SETUP iFund).
The SETUP iFund is intended mainly for the acquisition of productivity-enhancing equipment and additional product variance.
Recipient-MSMEs for food processing include the Delg Chorizo and Homemade Food Retailing and New San Jose Delicacies and Pastries, both in Canlaon City, Cassy and Hannah Store in Ayungon, Daebak Korean Food Trading in Dumaguete City, Lyn White’s Cakes and Pastries in Valencia, and Pitpat Burger in Basay.
For furniture making, funding was extended to Rajey Furniture in Tanjay City and Miguel Casket Making in Valencia, Citi Glass Aluminum and Roll-up Door Hardware in Bayawan City for metals and engineering, JAB Handy Craft in San Jose for gifts, decors and handicraft, and to the Nangka Agrarian Reform Farmers Cooperative in Bayawan City for agriculture, a government press release said.
SETUP cooperators will return the seed fund in three to five years, depending on their repayment capacity, without interest.
It is a DOST flagship program that aims to assist the MSMEs to produce quality products, increase productivity, and sustain marketability through technology and equipment upgrading and strengthening of innovation capability, the press release added.*