PHOTO FROM FACEBOOK
The investment arm of the Department of Trade and Industry (DTI) is urging the private sector to go more into innovative ventures in education technology (Ed-Tech), citing that one of the thrusts of the government is to give ample support in terms of funding assistance for eligible companies.
Last week, National Development Corp. (NDC) general manager Antonilo Mauricio said that there is currently an P8-billion funding ecosystem under their startup venture fund which can be utilized by firms looking to go into such projects.
‘The government has grants for funding that and tie-ups for this so that we can make pioneering efforts like these scalable to other parts of the country so that not only school children in the National Capital Region are benefiting, but also in other places,” Mauricio told reporters on the sidelines of the launch of the educational tablet and technology hub of Philippine firm ABC Ventures Inc. in Makati City.
Mauricio said the funding assistance under the startup venture fund ranges from P5 million to P50 million for companies that have already been in operation for one year to three years, and have proven themselves to have a sustainable revenue generation during the period.
“Our objective is for the [venture fund] to accelerate startups that can be the next ‘unicorn’ in the global stage,” said the official.
Mauricio said one good example of this was the educational technology hub of ABC Ventures Inc. and Dream Lab. —Alden M. Monzon
Your subscription could not be saved. Please try again.
Your subscription has been successful.
Read Next
Subscribe to INQUIRER PLUS to get access to The Philippine Daily Inquirer & other 70+ titles, share up to 5 gadgets, listen to the news, download as early as 4am & share articles on social media. Call 896 6000.
For feedback, complaints, or inquiries, contact us.
For all the latest Business News Click Here
For the latest news and updates, follow us on Google News.
