What is SETUP ?
The Department of Science and Technology (DOST) launched the Small Enterprise Technology Upgrading Program (SET-UP) in response to the President’s call for more focused programs fo assistance for SME’s. SET-UP is a nationwide strategy to encourage and assist SME’s to adopt technology innovations to improve their operations and thus boost their productivity and competitiveness. The program enables firms to address their technical problems through technology transfer and technology interventions to improve productivity through better product quality, human resources development, cost minimization and waste management, and other operation related activities.
What benefits can the participants get from the Program?
The beneficiaries shall be able to:
- Address current problems
- Get free technical advice from the consultants
- Avail of technical training courses for workers/employees
- Acquire new equipment to mechanize and/or improve production line through venture funds
- Standardize and improve the quality of products
- Be competitive
Who may Apply?
- Any company or individual firm that is based in the Philippines and wholly owned by Filipinos citizens.
- Any small and medium scale business firm that can be classified under the identified priority sectors.
- Individual firm that is willing to apply technological improvements in their existing operations.
How to Apply?
- Send a letter of interest to avail of the SET-UP assistance together with the requirements to the DOST Regional Director’s Office where the company is based.
- Identify current problems, improvements, and potential technological interventions needed.
- If the project is found viable, the DOST Regional Office endorses it to the National Program Management Office for evaluation and final approval.
What documents must be submitted?
- Full blown proposal.
- Technical Aspects
- Marketing Aspect
- Management/Administrative Aspect
- Financial Aspect
- Waste Disposal
- Endorsement of the Regional Director.
- Review and Technical Evaluation Committee (RTEC) Executive Report completely signed by all the RTEC members duly noted by the Regional Director.
- Proponent’s letter of interest to avail financial assistance and commitment to payback including their proposed repayment schedule.
- Copy of business permits and licenses from relevant LGUs and other government offices.
- Financial statements of at least the past three (3) years for the company/beneficiary duly signed by a Registered Accountant/Auditor.
- Projected financial statements for the next five (5) years.
- Certificate of Registration of Business Name with DTI, SEC or CDA.
- Board resolution authorizing the borrowing and designating authorized signatories for the financial assistance (if applicable).
- Three (3) quotations from suppliers/ fabricators of the equipment to be purchased/fabricated.
- Complete technical design/drawing of the equipment to be purchased/fabricated.