As quoted by Robert Ingersoll, “We rise by lifting others”, this reflects the main purpose of Invention-based Enterprise Development (IBED) Program—providing financial support for Filipino inventors in turning an invention into a business enterprise by making it available to the consumers. This program under the Department of Science and Technology—Technology Application and Promotion Institute (DOST-TAPI) assisted fourteen (14) Filipino inventors from CY 2010-2015, with a total of Php 13,176,888.10 amount of investment provided. Out of TAPI’s investment, Php 8,877,874.60 was recovered; number of employment increased by 105 and generated an income of Php 8,080,460.00.
Success under Construction
Among fourteen (14) assisted investors by IBED assistance program, there’s a certain individual whose invention moved toward success. Through his interest in the field of construction up to establishing and managing his own company, Mr. Frederick V. Erum was able to develop several invention products. As the president of the Forming Access & Support, Inc. (FASI), he invented one of the sub-systems compromising the formworks equipment and methods of concrete building construction system which is the “Table Form Support System.”
In order to ensure the efficient management, utilization, and commercialization of DOST-generated technologies, DOST Secretary Mario G. Montejo issued Special Order No. 630 creating the DOST Technology Transfer Core Team, which took effect on September 29, 2015.
Now being chaired by Dr. Rowena Cristina L. Guevara, Undersecretary for S&T Services, and with TAPI Director Edgar I. Garcia as Vice-Chair, the said team was appointed to "assist in the formulation, performance, consolidation, monitoring, assessment, and reporting of strategies to manager, utilize, and commercialize DOST-generated technologies".