Technology start-up companies now have a cheap facility
Posted on April 6th, 2009
Technology startup companies in the Philippines now have an ally, and a home, with the help of the project that is spearheaded by the Department of Science and Technology together with the Philippine Economic Zone Authority (PEZA).
This is the incubation facility which would be opened at the University of the Philippines this April which would provide cheap hosting services and research facilities for technology startup companies. This project developed by the DOST and PEZA called the Technology Business Incubation (TBI) will use facilities located beside the science agency’s Advanced Science and Technology Institute (ASTI).
This bold project of the DOST and PEZA costs them about P10 million, utilizing the 600 square meter facility. Another P15 million were spent for the computer servers and network equipment. But unlike the other incubation facilities, TBI won’t be using buildings and other fixed structures, instead it will use large container trailers, just like the same ones used by hauling trucks, as housing for the startup companies.
Each of these trailers has at least 20 square meters of floor area, just about the size of a small office. DOST Undersecretary Fortunato de la Peña, said in an interview, that the agency is still evaluating the monthly rental of the facility for technology startups. It will be an amount that will not cover the use of utilities, such as electricity, water and communications.
De la Peña assured however that the monthly rental would be cheap for the startup companies since it would also provide technical assistance, through the ASTI, as well as pool for researchers from UP Diliman.
“We already have inquiries about the facility but we still have to release the monthly rental soon. At least 20 startup firms would fit in that facility,†de la Peña said.
This is indeed great news for entrepreneurs who want to start their technology company on “shoestring budget†so to speak.
