DTI Encourages More MSMEs to Embrace Digital Transformation

The Department of Trade and Industry (DTI) is targeting more Cebu micro small and medium enterprises (MSMES) to embrace digital transformation.

During the second Slingshot Philippines – Cebu recently, Maria Elena Arbon, DTI Cebu Provincial Director, said they are expecting more MSMES to be knowledgeable and attuned to the idea of digitizing their businesses.

“We encourage more MSMEs to embrace digital innovation and this Slingshot is one of the venues for these businesses to partner with existing tech startups, shaping a more dynamic innovation ecosystem in Cebu,” Arbon said.

The first Slingshot held last year was aimed at increasing the digital start-up community in the province.

This year, Arbon said, it will enable these start-ups to have access to the MSME market.

Arbon said Slingshot aims to improve the capacity of both startups and MSMEs in line with the Asean Strategic Action Plan by keeping up with current trends in the tech industry, preparing brick-and-mortar enterprises for transformation into the digital era, and linking enterprises with potentially groundbreaking ideas to investors.

DTI Export Marketing Bureau (EMB) Director Senen Perlada said the laid out plan at the national level is to have “innovation economic zones”.

These “innovation economic zones” will function just like the business economic zones although this time it will be the startup companies.

The startup companies under these innovation economic zones will enjoy fiscal holiday and other fiscal and non-fiscal incentives.

About 300 MSMES and startups attended the 2nd Slingshot Cebu at Marco Polo Hotel recently.

There were break-out sessions designed for digital transformation lessons for small and medium scale entrepreneurs while the other group is for big companies.(fcc/PIA7-Cebu)