Department of Science and Technology (DOST) Secretary Renato Solidum Jr. and Philippine Economic Zone Authority (PEZA) Director General Tereso Panga on Thursday signed a joint memorandum circular (JMC) establishing the guidelines for the registration of Knowledge, Innovation, Science and Technology (KIST) parks in the country.
The JMC aims to accelerate and increase the establishment of KIST economic zones, which shall be located inside higher education institutions across the country.
“KIST parks will play a significant role in increasing R&D (research and development) infrastructure, fostering collaboration in R&D with foreign partners, facilitating technology transfer and upskilling our workforce towards innovation,” Panga said during the signing in Taguig City.
He said the output inside KIST parks include developing new patents, inventions and activities involving customizing robotics and automation that will be sold or exported back to companies that will be used to innovate their products.
Investments inside KIST parks have the highest incentives under the Strategic Investment Priorities Plan (SIPP), which considers these as Tier 3 activities.
The Batangas State University is the country’s first proclaimed KIST park in the country.
Panga said three more universities acquired the status of being KIST parks, including De La Salle University-Biñan in Laguna province, University of Perpetual Help in Cavite province, and Lyceum of the Philippines University-Laguna.
For his part, Solidum said the KIST parks would help commercialize inventions of Filipinos.
“The establishment of these KIST parks will be integral to the creation of growth for startups, spinoffs, and S&T (science and technology)-based firms complementing the efforts on technology business, incubation, and acceleration —and this is where science and technology and business work together,” the DOST chief added. (PNA)
