THE DEPARTMENT of Trade and Industry (DTI) launched a program Thursday that will assist small businesses in Cebu through academic partnerships.
The “Resilient, Innovative, and Sustainable Entrepreneurs (RISE)” program was developed by the department’s regional innovation center in partnership with a Cebu business group.
The program will link micro-, small-, and medium-sized enterprises (MSMEs) to partnerships and services available in the region.
“(The program) will support our MSMEs by providing them direct consultancy and guidance service from partner universities and industry champions. These, in turn, would assist MSMEs in identifying their needs and provide innovative solutions to their problems,” Trade Secretary Ramon M. Lopez said during the virtual launch.
RISE will assist companies in developing business recovery plans to mitigate the effects of the coronavirus pandemic.
Potential partners include universities for technical consultancy and research links, startups for digitalization, government for funding and grants, and financial institutions for new capital loans.
Each business recovery plan will be specific to the firms, making market-oriented or technology-based recommendations.
RISE was also launched in partnership with the Cebu Institute of Technology University, Southwestern University PHINMA, and the Science, Technology, Research and Innovation for Development Program of the United States Agency for International Development. — Jenina P. Ibañez