In support of the growth of the Small Enterprise Technology Upgrading Program (SETUP) Technopreneurs of the Department of Science and Technology (DOST), the Development Bank of the Philippines (DBP) has signed a memorandum of agreement (MOA) with DOST-MIMAROPA in the implementation of the DBP Bankability Enhancement for SETUP Technopreneurs (BEST) program.
The BEST program aims to harness the potential of SETUP technopreneurs as catalysts for job creation and local economic development, as well as enhance their bankability through a specialized lending facility.
Under the MOA, DBP will provide complementary credit facilities and other banking services to eligible and qualified SETUP technopreneurs. DBP will likewise assist DOST-MIMAROPA in improving its internal capability on credit evaluation and management.
DOST-MIMAROPA, meanwhile, will assist DBP in identifying SETUP technopreneurs who are ready to be transitioned to formal banking. DOST-MIMAROPA will provide DBP with a list of SETUP technopreneurs in good standing on a regular basis.
DBP’s enhanced presence in the MIMAROPA region is in fulfilment of its mission to serve as a catalyst for the development of local economies, especially in the countryside.
The MOA signing between DBP and DOST was held last month, during the SETUP Forum and Testimonials, in a fitting regional celebration of National Science and Technology Week with the theme “Juan Science, One Nation: Changing Lives Through Science” in Calapan, Mindoro. On the same occasion, the terms and features of the DBP BEST program were also presented, which opened the floor for inquiries among the technopreneurs attending the event.