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march23.2013Establishment of a sustainable recognition program for inventors and innovators urged

march23.2013Establishment of a sustainable recognition program for inventors and innovators urged

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Published by pribhor2
Establishment of a sustainable recognition
program for inventors and innovators urged
Establishment of a sustainable recognition
program for inventors and innovators urged

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Published by: pribhor2 on Mar 23, 2013
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03/23/2013

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Establishment of a sustainable recognitionprogram for inventors and innovators urged
In order to encourage inventors and innovators to develop new products andtechnologies that can be produced locally and exported all over the world, a lawmaker  proposed the establishment of a sustainable program that will recognize their achievements especially in the field of research and development.Rep. Eulogio Magsaysay (Party-list, AVE) authored House Bill 5970, which wouldrequire the Department of Trade and Industry (DTI) to establish a National InnovationPrizes Board which shall spearhead a program to solicit participation from various sectorsof the country, encourage a competitive research and development drive and that the bestnew inventions and innovations be appropriately recognized and properly compensated.Magsaysay said the bill, to be known as the “National Innovations Act of 2012,”would give the local minds their proper place in the hall of achievements in research anddevelopment.“We are a country of great people rich in cultural heritage and God-given gifts. Wesurvived the impact of recent economic crises because we have been blessed withinherently talented and innovative human resources. Undoubtedly, all over the world,many Filipinos have reached recognition for their ingenuity,” Magsaysay said.“The State however, is not giving due recognition to our country’s bright minds dueto lack of a solid program to recognize their achievements especially in the field of research and development while other countries benefit more than we do. This has forcedour inventors and innovators into the saga of brain drain and migration,” Magsaysayadded.In filing the bill, Magsaysay cited Article II, Section 20 of the Constitution, which provides that the State recognizes the indispensable role of the private sector and privateenterprise, and provides incentives to needed investments.Under the bill, the Board, which shall consist of noted individuals, appointed by theSecretary, from both the public and private sectors, shall develop and administer theInnovation Prizes Program to eligible individuals and entities to advance the research,development and commercial application of innovative technologies; select the researchtopics for competitions and establish the rules of the competitions and the criteria for thewinning innovation.The Board shall likewise determine the amount of the innovation prize for each
NR # 3052MARCH 23, 2013

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