NDC to fund startups

    141

    The National Development Co. (NDC) is setting up a P250-million venture fund to bankroll digital startups, its chairman Trade Secretary Ramon Lopez said.

    In his speech at the Innovative Startup Act Joint Administrative Order (JAO) virtual presser last Monday, Lopez said the DTI is also working with the Anti-Red Tape Authority and the Department of Information and Communication Technology on setting up the Startup Business One-Stop Shop (SBOSS).

    The SBOSS, which will be anchored in the Central Business Portal , aims to facilitate end-to-end registration of startups. This is also envisioned to serve as a platform containing all information about regulations on opening, operating, closing, or exiting a startup.

    SBOSS will be made accessible through the Startup Website being developed.

    Lopez said the NDC venture fund will be launched this year.