To avail of these incentives, startups and startup enablers have to pass an application and selection process to be determined in the Implementing Rules and Regulations (IRR). The first meeting to craft the IRR was held on 22 July at the University of the Philippines Diliman. Present at the meeting were  DTI Undersecretary Rafaelita Aldaba, DOST Undersecretary Rowena Guevara and DICT Dir. Emmy Lou Delfin, as well as other officials and representatives from each agency.

Business registration assistance

Selected startups and enablers will get subsidies for business registration fees. The host agencies will also endorse their applications to be prioritized or expedited. The three agencies will also provide subsidies for use of office spaces, facilities, equipment, services, and repurposed government spaces.

Travel assistance, startup visas

For startups and enablers participating in local and international events, DTI, DOST, and DICT can help expedite travel documents and provide subsidies for airfare, baggage, per diem allowance, and other travel expenses.

The Department of Foreign Affairs (DFA) will create startup visas for owners, employees, and investors valid for five years and renewed with three-year validity. Startup visa holders will be exempted from getting an Alien Employment Permit issued by the Department of Labor and Employment (DOLE)

Meanwhile, Filipino startup executives will be eligible to apply for an APEC Business Travel Card which streamlines the entry process for APEC-member countries for short business trips.

Venture assistance

The host agencies will set up a startup grant fund to provide grants-in-aid for research and development, training, and expansion plans. DTI and the National Development Company (NDC) will also create a Startup Venture Fund to invest in startups based in the Philippines.

Startup Philippines website, education programs

The DICT will launch a Startup Philippines website, where beneficiaries can inquire about the progress of all incentives awarded under the law. The website will also contain a database of startups and enablers as well as relevant statistics, reports, and studies.

Under the new law, the Department of Education (DepEd), Commission on Higher Education (CHED), and the Technical Education and Skills Development Authority (TESDA) are also directed to integrate entrepreneurship in their curricula and provide grants and incentives to academic institutions.

Balikbayan Media Center
Balikbayan Media Center

Balikbayan Magazine's Media Center serves an audience in 60 countries and 101 cities throughout the World to ignite, drive, and fuel the economic development, progression, and modernisation of the Philippines. Our Media Center curates only the most critical, vital, useful, entertaining, and sometimes amusing information released from both the public and private sector. Our editorial team strongly believes that a well-rounded and well-informed society is a thriving society.

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