{"id":120285,"date":"2017-09-29T05:04:29","date_gmt":"2017-09-29T09:04:29","guid":{"rendered":"https:\/\/canadianinquirer.net\/v1\/?p=120285"},"modified":"2025-01-08T19:07:44","modified_gmt":"2025-01-09T00:07:44","slug":"i-tech-launched-to-commercialize-filipino-inventions","status":"publish","type":"post","link":"https:\/\/canadianinquirer.net\/v1\/2017\/09\/29\/i-tech-launched-to-commercialize-filipino-inventions\/","title":{"rendered":"I-TECH launched to commercialize Filipino inventions"},"content":{"rendered":"
\"Mr.<\/a>
FILE: Mr. Daniel A. Camacho, CEO of Greenway Toilet Solutions explains the Green Eco-Toilet System to the participants. (Photo: tapi.dost.gov.ph<\/a>)<\/figcaption><\/figure>\n

MANILA<\/strong> \u2014 The Department of Science and Technology – Technology Application and Promotion Institute (DOST-TAPI) and the Land Bank of the Philipines launched the I-TECH Thursday afternoon, aiming to help Filipino inventors commercialize their products.<\/p>\n

Through the I-TECH (Innovation and Technology Lending Program), a special financing window will be provided by DOST-TAPI and LandBank to support the commercial production of patented Filipino inventions.<\/p>\n

A lower interest rate for loan assistance will be provided to qualified inventors, according to LandBank. DOST-TAPI, on the other hand, will use its Invention Guarantee Fund (IGF) for this program.<\/p>\n

The maximum loanable amount is PHP12.5 million. LandBank said it will provide 45 percent (or up to PHP5.6 million) while DOST-TAPI’s IGF will cover 40 percent (maximum PHP5 million).<\/p>\n

The inventor or borrower’s equity is 15 percent minimum, which can either be in cash or in kind.<\/p>\n

Standard fees and charges usually required by banks will be applied to loan applications.<\/p>\n

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Documentary requirements and collateral documents shall also be prepared.<\/p>\n

Also, LandBank interest rate will be 5 percent per annum, while there will be zero interest from DOST-TAPI.<\/p>\n

Who are qualified?<\/p>\n

Filipino inventors with active intellectual property rights, who are at least 21 years old, with good moral character and who don’t have an obligation to DOST-TAPI, can apply for the loan.<\/p>\n

Enterprises duly authorized by the inventors to use their patents, as well as state universities and colleges, government agencies with active intellectual property rights are also eligible to apply.<\/p>\n

Their projects\/inventions must be those that save fossil energy; promote Philippine exports; produce gadgets that lower production costs; result in increased productivity in primary industries; among others.<\/p>\n

In a press conference held during the I-TECH launch, DOST-TAPI Director Edgar Garcia said he hopes the program would help ease the investors’ burden in raising additional capital to fund the commercialization of their inventions.<\/p>\n

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<\/p>\n

He said the DOST-TAPI will spend the remaining months of 2017 to create awareness about TAPI.<\/p>\n

Garcia also noted that DOST-TAPI will welcome all qualified borrowers and will not limit the number of applicants, in case many would like to avail of the program.<\/p>\n

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\u00a0(PNA)<\/strong><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

MANILA \u2014 The Department of Science and Technology – Technology Application and Promotion Institute (DOST-TAPI) and the Land Bank of …<\/p>\n","protected":false},"author":33,"featured_media":120289,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5742,5],"tags":[25332,25331],"class_list":["post-120285","post","type-post","status-publish","format-standard","has-post-thumbnail","category-science-2","category-technology","tag-filipino-inventions","tag-i-tech","mauthors-ma-cristina-arayata","mauthors-philippine-news-agency"],"_links":{"self":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/120285","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/users\/33"}],"replies":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/comments?post=120285"}],"version-history":[{"count":1,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/120285\/revisions"}],"predecessor-version":[{"id":281212,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/120285\/revisions\/281212"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media\/120289"}],"wp:attachment":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media?parent=120285"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/categories?post=120285"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/tags?post=120285"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}