DICT Now Accepting Proposals for Startup Grant Fund
The Department of Information and Communications Technology (DICT) has officially opened its call for proposals for its Startup Grant Fund (SGF).
Under Republic Act No. 11337 or the Innovative Startup Act, the SGF is mandated to provide financial grants to new and early-stage startups in the Information and Communications Technology (ICT)-enabled sectors. The goal is to further develop the Philippine startup ecosystem. The DICT, in partnership with the Department of Trade and Industry (DTI) and the Department of Science and Technology (DOST), are the implementing agencies of this initiative.
According to DICT Secretary Ivan Uy, at least 10 startups are to be part of the first run of the grant fund. Startup grantees can receive up to PHP 1 million in funding. To apply, startups must be officially registered and have products or services in the proof of concept, prototype, or minimum viable product (MVP) stages in ICT-enabled sectors. Submissions will then undergo initial screening and table review through the DICT’s ICT Industry Development Bureau (IIDB). Proposals will also be reviewed by the Grants Committee composed of venture capitalists, investors, partner organizations and representatives from the concerned divisions/offices of the DICT. Once assessed and evaluated, selected proponents will undergo a final deliberation composed of DICT executive officials.
Interested startups can submit their proposals until May 12, 2023.
The full news article can be accessed here.