Oniot, Erica B.

Technopreneurship 50098

Role of Technopreneurship in the Achievement of Inclusive Growth in the

Philippines

The Philippines economy have been growing for 2010-2017. Although, gradually
changing in growth status has been observed in more recent years. The government have
implemented industrial sectors to generate a growth model to sustain its status for the investment
and employment of the country. This primarily focuses on the three major areas: a) creation of an
innovation and entrepreneurship ecosystem; b) removal of obstacles to growth to build industry
clusters; and c) strengthening domestic supply and value chains to deepen our participation in
global and regional value chains and networks. This new industrial policy known as Inclusive
Innovation Industrial Strategy with a goal of being globally competitive and innovative was the
solution for the industrial issues.

One of the biggest advantages of innovation is its contribution to economic development.

Simply, it will lead to higher efficiency, which implies that the same input produces higher
output. If productivity increases, more products and services are produced – in other words, the
economy is increasing. Innovation is the result of new combinations of existing knowledge,
skills, and resources which is regarded as pioneered solution because it can lead to economic
transformation both in the highly developing and developing countries like the Philippines. In the
country, there are different organizations and agencies that focuses on science and technology,
such as a sector who really specializes it called Department of Science and Technology (DOST).
There are a lot of inventions and researches in different universities and institutions, however
due to the lack of funds those inventions are still not recognizable in the society today. This will
be a particular reason why Philippines has a low level of innovations according to the Global
Innovation Index. Somehow, there are still aspiring innovators out there that are talented enough
who needs their country support.
 Embracing new technology will helps economic progress that benefits consumers,
businesses and the economy as a whole. Businesses will offer more jobs to those who are
qualified for the position. The employment rate of the country will rise. More industrial facilities
will be built in order to accommodate people who are willingly to work. However, there are still
more things we should consider. This change might affect our perspective in life, because we
will be started to rely on things that will make our life easier.

This is really good advancement for our country’s growth, not only economically but in
more prestigious opportunities ahead. But, embracing this completely will affect mainly our
environment. If more establishments will be built to provide more jobs. Technopreneurship is not
just about building or creating something, it is also about business and opportunities. Linkages of
government-Academe-Industry is very crucial in our economy. The government should fund
more researcher and innovations that could help our country. Supporting and protecting local
products, investing in our inventors and scientist reducing our dependence to imported products
could expedite our economy growth.

References:

References:
Inclusive Filipinnovation and
Entrepreneurship Roadmap.
Retrieved from Securing the
Future of the Philippine
Industries:
http://industry.gov.ph/wp-
content/uploads/2018/12/Incl
usive-Filipinnovation-and-
Entrepreneurship-R
oadmap.pdf
30 Successful Filipino
Entrepreneurs under 30.
Retrieved from When in
Manila Trending &
Features:
https://www.wheninmanila.co
m/30-successful-filipino-
entrepreneurs-under-30/

References:
Inclusive Filipinnovation and
Entrepreneurship Roadmap.
Retrieved from Securing the
Future of the Philippine
Industries:
http://industry.gov.ph/wp-
content/uploads/2018/12/Incl
usive-Filipinnovation-and-
Entrepreneurship-R
oadmap.pdf
30 Successful Filipino
Entrepreneurs under 30.
Retrieved from When in
Manila Trending &
Features:
https://www.wheninmanila.co
m/30-successful-filipino-
entrepreneurs-under-30/
Inclusive Filipinnovation and Entrepreneurship Roadmap. (n.d.). Retrieved from
http://industry.gov.ph/wp-content/uploads/2018/12/Inclusive-Filipinnovation-and-
Entrepreneurship-Roadmap.pdf