ARTICLE · 27 MAY 2019

Start Up Assistance Starts Up In The Philippines

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The National Innovation Bill (Senate Bill No. 1355) is set to become a law (Philippine Innovation Act) in the coming weeks (a copy of the bill was sent for signature of the President in March 2019).

PhilippinesGovernment, Public Sector

The National Innovation Bill (Senate Bill No. 1355) is set to become a law (Philippine Innovation Act) in the coming weeks (a copy of the bill was sent for signature of the President in March 2019). It provides for, among other things, the following: (1) the creation of the National Innovation Council (NIC) to be headed by the president of the Philippines and which IPOPHL will be a member of; (2) the formulation of the National Innovation Agenda and Strategy Document as roadmap for innovation; (3) NIC to provide the criteria to be observed in selecting research and programs for funding; (4) "whole of government approach" to drive innovation; and (5) Innovation Fund set at One Billion Pesos (about USD 51.8 million) as allocation for initial year of implementation of the law.

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