DICT Grants Funds to Startups

The Department of Information and Communications Technology (DICT) recently opened the Startup Grant Fund (SGF) application process pursuant to Republic Act No. 11337, otherwise known as the Innovative Startup Act.

 

Under Section 11 of the Innovative Startup Act, the DICT must provide financial grants for new and early-stage startups, or those currently in the Proof of Concept (POC), Prototype, or Minimum Viable Product (MVP) stages. The program recognizes that Filipino startups usually struggle financially, so the SGF aims to provide the “pre-seed” for startups to be more active and investable.

 

At least 10 startups can be granted up to PHP 1 million under the program. Aside from the funding, startups can also benefit from mentors and fellow startups within the community.

 

Read the full news here.