The National Innovation Council (NIC), led by President Ferdinand Marcos Jr., has approved the National Innovation Agenda and Strategy Document (NIASD) 2023-2032 which comprises initiatives to develop an environment that supports a culture of innovation driven by market demands.
In a statement, the Presidential Communications Office (PCO) stated that the NIASD 2023-2032 was presented and discussed at the NIC's fifth meeting on Friday.
PCO said the document encourages collaboration through active, dependable, and helpful platforms and gives innovation players the facilities and resources they need to develop their ideas into innovative products and services.
The NIASD 2023-2032 also connects the innovator-entrepreneur with potential investors and financiers.
Arsenio Balisacan, Socioeconomic Planning Secretary and NIC vice chair, stated that developing a vibrant innovation ecosystem is one of the six cross-cutting strategies highlighted in the Philippine Development Plan (PDP) 2023–2028 transformation agenda.
The goal of the agenda is to create a "prosperous, inclusive, and resilient society."
Other topics discussed at the meeting included authorizing the grant of per diem to NIC executive members, proposing additional plantilla positions in the NIC secretariat, and an update on the next steps in implementing Section 23 of the Philippine Innovation Act, which states that all banking institutions, whether government or private, must set aside at least 4% of their total loanable funds for innovation development credit.
During the meeting, new NIC members Ria Liza Canlas, Mark Sultan Gersava, Monchito Ibrahim, and Earl Martin Valencia took their oaths.
Transportation Secretary Jaime Bautista, Energy Secretary Raphael Lotilla, and Intellectual Property Office of the Philippines Director General Rowel Barba were also present at the meeting.
Marcos is the head of the NIC, a 25-member policy advisory council comprised of 16 department secretaries and seven private-sector executives.
The council, which was established in 2019, is charged with developing the country's innovation goals, priorities, and long-term national strategy.
