The Department of Information and Communications Technology (DICT) announced that they are now starting to accept grant applications for tech startups.
This is after the Startup Grant Fund (SGF) has been “signed and approved and is open for applications,” the DICT said.
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The grant is for startups with services and products that are currently on the prototype, proof of concept, or in minimum viable product stages within ICT-enabled sectors.
SGF was initiated to assist and nurture startups by giving them pre-seed to seed funding. This shall help the ecosystem become more active and investable.
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The fund will help grant up to Php1 million per tech startup. The amount should be used for the continued development of their projects.
Besides the monetary grant, DICT will also give approved applicants a chance to meet mentors that will help improve their network in the startup community.
DICT Secretary Ivan Uy said that they plan to approve at least 10 startups as beneficiaries for the first run of the startup grant fund.