MANILA, Philippines — State universities and colleges will have ecozones and Knowledge, Innovation, Science and Technology (KIST) parks on campuses after the Department of Science and Technology (DOST) signed a memorandum last week.
The memorandum of understanding, co-signed by Philippine Economic Zone Authority director-general Tereso Panga and Philippine Association of State Universities and Colleges (PASUC) president Tirso Ronquillo, aims for the creation of PEZA-accredited KIST Parks that will encourage SUC-based scientists and researchers to commercialize innovations and breakthroughs resulting from their research and development activities.
“The KIST in academe can attract investors that are in R&D and innovation. With that engagement, (PEZA) can now mobilize with (micro, small and medium enterprises) to be part of the value chain and commercialization of products that can create more jobs and livelihood,” Panga said.
KIST Parks in academic institutions will hopefully encourage the formation of tech startup companies that will be nurtured by the tax incentives provided by PEZA in accredited economic zones, according to Science Secretary Renato Solidum Jr.
Solidum noted that the KIST Park program is an effort for “wealth creation” through S&T and R&D investments.
The DOST is tasked with providing technical assistance to improve Science-Technology-Innovation solutions, PEZA will promote flow of foreign and local investors into economic zones and PASUC will make academe an innovation driver through its Platform for Innovating SUCs for Industry 4.0 or PISI.
There are 44 SUCs that have signified their interest to have a KIST Park. Batangas State University launched its KIST Park on July 20, 2020.