Three micro-enterprises from Misamis Oriental received a total of Php 2.79 million as technology funding from the Department of Science and Technology 10 (DOST 10) last April 14, during the ceremonial turnover of Small Enterprise Technology Upgrading Program (SETUP) project funds conducted via Zoom conferencing.
These three firms are Folder and Goods Trading, Trunk to Gold Agribusiness Corporation, and Rite Home Modular Systems, under the Manufacturing, Food Industry, and Furniture Industry sectors, respectively.
SETUP is a flagship program of DOST mandated to assist micro, small, and medium enterprises (MSMEs) to improve their productivity. Through a signed Memorandum of Agreement (MOA), each firm received funding to acquire equipment addressing their production gaps and improving product quality.
Folder and Goods Trading is a micro-enterprise in Cagayan de Oro City that produces customized office supplies. The firm will be able to shift from manual processing into semi-automation with their new spine pocket welding machine that will semi-automate the placing of pockets on the spines of binders and folders.
Another assisted enterprise is Trunk to Gold Agribusiness Corporation in Jasaan, Misamis Oriental. The Php 1.66-million assistance they received is intended to equip them to produce high-quality coco sugar and other coconut by-products. It will also help them acquire a License to Operate from the Food and Drug Administration. This assistance will increase the enterprise’s productivity by 37 percent, and will provide sustainable livelihood to toddy tappers and coconut farmers who work with the business.
“This Php 1.66-million assistance is a huge amount that would help us generate additional employment and would help propel a vibrant economy in the coconut industry within the province and in the region. Our partnership with DOST 10 has just begun. There are so many things to do ahead and we look forward to more fruitful and meaningful social enterprise endeavors with you (DOST),” said Mr. Joel V. Zamayla, president of the enterprise, during the online ceremony.
Rite Home Modular Systems, a rising manufacturer of modular furniture products in Cagayan de Oro City, has received the same opportunity to upgrade their processing through the acquisition of a single-line boring machine. This technology intervention aims to increase the enterprise's production volume by 26 percent.
The three assisted firms expressed their gratitude for the funds as they welcome innovative solutions to their production problems. Indeed, DOST is committed to its mandate enabling MSMEs to increase their productivity and product competitiveness through SETUP. (Mary Claire A. Estoque, DOST-Misamis Oriental)