CONGRESSMAN Jose Enrique S. Garcia III announced last Friday that incentives for local business innovations, business processing outsourcing, and those engaged in research and development will soon be available following the signing of implementing rules and regulations (IRR) of RA 11337, otherwise known as Innovative Startup Act.
Rep. Garcia said application on line is now available for startup businesses with limited capital through appropriate national government agency that will process the grant.
The national government is investing more than P3 billion including P125 million from the National Development Company (NDC), to give all-out support for the development of the country’s technology startups up to 2022.
The startup grant will benefit investors including those engaged in research and development, Garcia said. The Department of Science and Technology under Secretary Fortunato dela Pena is one of the agencies in-charge of Startup Grant Fund to provide startups and start enablers that have passed the selection and application process.