WEEK 13 - Lecture Series and Update

For today's activity, we were tasked to watch a lecture series conducted by the Center for Entrepreneurship and Technology. The theme for today's lecture was about Entrepreneurial Finance and Venture Capital and the speakers for this lecture were Mr. Noel T. Macaya and Mr. Virgilio M. Fuertes. Mr. Macaya is an entrepreneur while Mr. Fuertes is a supervising research science specialist of the Department of Science and Technology Region X. Mr. Nacaya's discussion about pricing was not audible and I have a hard time listening to his discussion but somehow I manage to get some of his thoughts on pricing. He shared with us that prices differ depending on what platform the product is located on. Prices are 20% to 30% higher in food deliveries than prices located at a physical store. This is because food delivery services charge product placement and other fees such as delivery and service fees. 

The next presenter is Mr. Fuertes, his topic is all about support for innovators. Through Mr. Fuertes's discussion, I have realized that there is an act that will help early development startups come to fruition and that act is the Innovative and Startup Act. This act helps to overcome Research and Development roadblocks, strengthen intellectual property rights, establish initial traction, refine the business model and prepare a business continuity plan. Mr. Fuertes also discussed the mechanics of how to submit a proposal to DOST. Guidelines include the title of the proposed project, duration, description of the startup and the founders, description of the product & value proposition, the background of the technology development, target market and size, competitive advantage analysis, IP status, objectives, methodology, and work plan. DOST also offers help to SME or Small to Medium Enterprise businesses in the following sectors, food processing, furniture, gifts & decors, agriculture, ICT and health products.