The Department of Science and Technology (DOST) and the Philippine Economic Zone Authority (PEZA) recently signed a joint memorandum circular on the establishment of Knowledge, Innovation, and Science Technology or KIST parks at the DOST Main Building in Taguig.
DOST Secretary Renato U. Solidum Jr. and PEZA Director General Tereso O. Panga signed the joint memorandum circular before a group of witnesses composed of members of both agencies.
According to the science department, KIST will pave the way for start-ups or newly formed companies that use science, technology, and innovation to access various enabling services from the DOST to spur economic development in growth areas in different regions in the country.
“Aligned with the goal of the current administration and the new direction of the department,” said Sec. Solidum, “The establishment of KIST parks will be integral to the creation of growth of start-ups, spin-offs, and S&T-based firms, complementing the efforts on technology business incubation and acceleration.”
Furthermore, the KIST parks will serve as generators or hubs for enriching research and development efforts that are drivers of economic growth as technology transfer is maximized.
“KIST parks will play a significant role in increasing R&D infrastructure, fostering collaboration in R&D with foreign partners, facilitating technology transfer, and upscaling our workforce toward innovation,” Dir. Gen. Panga added.The institutionalization of KIST parks, which are special economic zones located within colleges and universities in the Philippines, is one of the emerging programs of DOST. The establishment of KIST parks, in partnership with PEZA, will help in leveraging engineering and other vital degree programs to address the human resource needs of the respective industries.
The memorandum of understanding between DOST and PEZA was signed way back on 24 January 2023, and is now on full steam, where both parties are fully committed to plan and craft strategies and policies to support the establishment of KIST parks in the regions. (30)
Sincerely,
Jacqueline R. Parairo,ย DOST-STII
