1. Department of Science and Technology (DOST) – TECHNiCOM Program
The Technology Innovation for Commercialization (TECHNiCOM) program by DOST supports startups in the pre-commercialization stage. It offers funding assistance to transform innovative ideas into market-ready products, focusing on technology-based enterprises.(Phildev)
2. Department of Trade and Industry (DTI) – Startup Grant Fund
Under the Innovative Startup Act, DTI provides grants to startups that contribute to innovation in the country. This fund aims to support the development and growth of startups by offering financial assistance for product development, marketing, and other operational needs.(Phildev)
3. Small Business Corporation (SB Corp) – Pondo sa Pagbabago at Pag-asenso (P3) Program
SB Corp’s P3 Program offers micro-financing options to micro and small enterprises (MSEs) at lower interest rates. While primarily a loan program, it complements grant initiatives by providing accessible funding to startups needing additional capital.(Small Business Corporation)
4. Academy for Women Entrepreneurs (AWE) – Philippines
The AWE program, supported by the U.S. Embassy in the Philippines, offers a hybrid course designed to equip women with the knowledge and networks necessary to launch and scale successful businesses. It includes access to funding opportunities upon completion.(simpler.grants.gov)
5. Philippine-American Fund for Entrepreneurship and Local Assistance for Development (PAUNLAD)
PAUNLAD provides seed grants to support business startups, promote innovation through entrepreneurship, and advance citizen advocacy. It focuses on fostering economic growth and development at the community level.(Federal Grants)
6. One Town, One Product (OTOP) Program
Administered by DTI, the OTOP program supports micro, small, and medium enterprises (MSMEs) by promoting products rooted in local culture and resources. It offers assistance in product development, marketing, and access to funding opportunities.(Wikipedia)
7. Angel Investment Network – Philippines
While not a grant, the Angel Investment Network connects startups with potential investors who can provide funding and mentorship. This platform is valuable for entrepreneurs seeking financial support and guidance from experienced business professionals.(Philippines Investment Network)
Frequently Asked Questions
What is the Innovative Startup Act?
The Innovative Startup Act is a Philippine law that provides benefits and incentives to startups, including grants, to foster innovation and entrepreneurship in the country.
Are there grants specifically for women entrepreneurs?
Yes, programs like the Academy for Women Entrepreneurs (AWE) offer training and funding opportunities tailored for women looking to start or grow their businesses.(simpler.grants.gov)
How can I apply for these grants?
Application processes vary by program. Generally, you’ll need to prepare a business plan, meet eligibility criteria, and submit required documents through the respective agency’s application portal or office.
Can I apply for multiple grants simultaneously?
Yes, as long as you meet the eligibility requirements for each program. However, be mindful of any restrictions or obligations that may come with accepting multiple funding sources.
Do these grants require repayment?
Grants typically do not require repayment. However, it’s essential to understand the terms and conditions of each grant, as some may have specific requirements or obligations.
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