The Department of Trade and Industry (DTI) will propose amendments to the Intellectual Property Code (IPC) of the Philippines to support the country’s startup ecosystem and fortify the protection of intellectual property rights (IPR).
“To support startups, we need a strong intellectual property law. We have an existing law. I’m going to present the proposed amendments to the President soon,” said DTI Secretary Alfredo Pascual at the post-SONA 2024 economic discussions Tuesday.
The proposed amendments seek to modernize the IP framework, enhance enforcement against online piracy and intensify IP education efforts, creating a safer digital landscape that fosters innovation and economic growth.
Pascual emphasized the crucial role of startups in driving innovation and technology adoption in the economy.
The DTI is leading the charge in supporting startups through various programs including incubation, development and entrepreneurship advance (IDEA), accelerating development, valuation and corporate entrepreneurship (ADVANCE) and global acceleration program (GAP).
The GAP aims to provide startups with global market access and financing opportunities. The DTI is supporting over 130 startups across diverse fields, with a particular focus on technology-driven solutions in architecture, fintech, edutech and other sectors.
It teamed up with the Asian Development Bank to establish the national innovation gateway, a hub that will offer space and support for startups, enabling them to contribute to economic growth and job creation.
