NEDA supports entrepreneurs via Filipinnovation Awards

The National Economic and Development Authority (NEDA) is seeking innovative solutions to address the country’s issues in agriculture, health, and education through Filipinnovation Awards.

NEDA Undersecretary Rosemarie Edillon on Friday announced the government agency will be accepting entries in January next year and announce the five national winners in October.

Qualified participants should be Filipino citizens or Filipino-owned enterprises with innovative products that are ready for early-stage commercialization and are registered with the Department of Trade and Industry or the Securities and Exchange Commission.

“The competition aims to encourage all the stakeholders out there to actively participate in innovation not only to demonstrate their capabilities but also make significant contributions to the national agenda in fostering a culture of innovation,” Edillon said.

“We hope this will be a prestigious award in the country,” she added.

Aside from education, agriculture, and health, NEDA will be accepting proposals related to manufacturing, public administration, energy, finance, transportation and logistics, security and water.

Winners will receive cash grants and mentorship in compliance with the Philippine Innovation Act or Republic Act 11293.

Under the said law, NEDA, through its National Innovation Council (NIC) must screen proposals and mobilize the Innovation Fund to promote entrepreneurship in helping the poorest groups in the country.

For this year, NEDA’s budget for innovation grants was set at P100 million. The government agency requested the amount to be doubled under its total budget for 2025.

The Philippine Innovation Act was signed by former president Rodrigo Duterte in April 2019, who also served as the chairperson of the NIC.

As the new NIC chairperson, President Ferdinand Marcos Jr. in June last year approved the National Innovation Agenda and Strategy Document 2023-2032 to update guidelines for easing technology investments amid the evolving socioeconomic challenges in the country.

Based on the Global Innovation Index 2024, the Philippines ranked higher at 53rd out of 133 countries this year from 56th last year.

In terms of innovation inputs, the Philippines improved to 67th from 69th. However, in terms of putting innovations into actual use, the country slightly ranked lower at 53rd from 52.

“Establishing a dynamic innovation ecosystem is one of the six cross-cutting strategies in the transformation agenda identified in the Philippine Development Plan 2023-2028 to achieve a prosperous, inclusive, and resilient society,” NEDA secretary and NIC vice chairperson Arsenio Balisacan said.