DOST Siquijor pushed for the technological assistance of the new batch of micro, small and medium enterprises (MSMEs) from among the priority sectors through the Department of Science and Technology – Small Enterprise Technology Upgrading Program (DOST SETUP).
With 10 MSMEs in the province as beneficiaries, DOST Siquijor has turned over checks amounting to a total of PhP7,755,178.00 to 10 beneficiaries – 5 firms were classified under the food processing sector, 2 firms were into furniture business, 1 firm is into metals and engineering sector, 1 is into agriculture processing sector and 1 corporation which has business in the ICT sector.
PhP2,440,000.00 or 31% of the total amount were given to the food processing sector with clients namely: Elena’s Bakery and Pasalubong Center, Larena Triad Coffee Shop, Claridades Meatshop, Jainin’s Cakes and Pastries and Isla Noah Ice Cream.
PhP2,299,700.00 or 30% of the total amount were handed over to the metals and sector with GL Motors and Industries as sole beneficiary.
PhP1,490,000.00 or 19% of the total amount were turned over to the ICT sector specifically to Siquijor Island Cable Island TV Network Systems Corporation.
The furniture sector received 15% of the total amount this year or PhP1,149,978.00. The beneficiaries include NR Builders and Dongon N Balababa Enterprises.
The remaining amount was allocated for the agricultural processing sector with Jutba General Merchandise as beneficiary.
The total assistance received by Siquijor’s MSMEs this year was up 114% year on year which translates to PhP4,123,762.00. In 2015, MSMEs in the province received a total assistance worth PhP3,631,416.00 through the same program.
The said funds will be used by the MSMEs to procure the identified equipment and machineries as stipulated in the notarized memorandum of agreement. Beneficiaries under the food processing category will also be able to use part of the funds for the laboratory analysis and packaging and labeling of their products.
In return, the beneficiaries will pay monthly for 36 months the total amount of assistance through post dated checks. This means that the equipment procured will remain property of DOST until beneficiaries opt to pay to 0.5% of the total cost of total cost of equipment on the 37th month.