LIGTAS COVID program helps MSMEs thru venture financing
True to its mandate of helping micro, small and medium enterprises (MSMEs) through venture financing, the Technology Application and Promotion Institute of the Department of Science and Technology (DOST-TAPI) has fully implemented the Level-up Innovation Government Support for Technologies against the Spread of COVID-19 program simply called or LIGTAS COVID-19.
The program is in line with the government’s thrust to address the pandemic under the Bayanihan to Heal as One Act that liberalizes the grant of incentives for the manufacturing or importation of critical equipment and supplies related to activities that respond to mitigating the risks against COVID-19.
LIGTAS COVID provides financial assistance to qualified MSMEs to enable them to acquire raw materials for the production of relevant essential products used against the spread of the deadly COVID-19 virus.
The assistance provides as much as one million pesos per proponent provided that the proponent shoulders at least 30 percent of the total project cost.
One of the beneficiaries under the program is Prime Innov8 Manufacturing Co. that produces disinfectants. In 2020, six projects were given financial support with an approximate aggregate amount of eight million pesos.
Because of the urgency to address the negative impact of COVID-19, now that new strains have been discovered like the UK, Brazil, and South Africa variants, the program has become more relevant. LIGTAS COVID-19 Program is now accepting project proposals for 2021.
For more information on the LIGTAS COVID-19 Amended Guidelines, please visit https://drive.google.com/file/d/1Vr9SMO_tlgaofd9YZlgW6J6z2SAiwWVA/view or contact 8837 2071 local 2157 and email info@tapi.dost.gov.ph.
(DOST-TAPI S&T Media Service/Jund Rian A. Doringo)
1.jpg)
