DTI sets sights on P250-million venture fund for startups

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By: Business Mirror

The Department of Trade and Industry (DTI) is targeting to launch a P250-million venture fund this year to finance the establishment and expansion of local startups.

The creation of the funding program is in line with the Innovative Startup Act, which was signed into law in 2019.

On Monday, the DTI, Department of Science and Technology (DOST) and Department of Information and Communications Technology (DICT) signed a related joint administrative order creating a steering committee tasked with harmonizing the efforts of the said departments. DTI is the inaugural chair of the said committee.

 

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