Montejo: Time is ripe for tech investments in PH

DOST Sec. Mario Montejo. Photo by Aries Joseph Hegina/INQUIRER.net

Department of Science and Technology Secretary (DOST) Mario Montejo said that now is the best time for foreign and local technology investors to set up shop in the Philippines.

“This is the best time to invest your efforts, talent and money for starting tech businesses to the country,” Montejo said in his speech during the second day of the tech setup conference Slingshot MNL 2015.

He said that one of the thrusts of the government agency is to provide technical know-how and assistance to entrepreneurs wanting to open up a tech startup.

“The DOST’s main goal is to enhance science and technology ecosystem to support our industry and SMEs (small and medium enterprises) in improving their productivity and to support innovators to develop new products and services,” he said.

Montejo said that some DOST projects which may benefit tech startups to turn their ideas into products include the establishment of the Philippine Institute of Integrated Circuits in cooperation with the University of the Philippines and the opening of the Electronic Product Design Center.

The Science and Technology secretary also said that the government invested and tripled the number of scholarships for college and graduate students since 2010.

He hopes that with the DOST’s help, the Philippines will become a potential startup hub in the Asia-Pacific region.

“Our innovation ecosystem contributed to the country’s potential of being a startup hub,” Montejo said.

Slingshot MNL, touted to be the largest gathering of tech startups in the country, is the official startup event of the Asia Pacific Cooperation (Apec) Philippines 2015.