Press Release
September 21, 2023


Sen. Chiz Escudero on Wednesday (Sept. 20) exhorted his colleagues to rally behind Senate Bill No. 2442 or the Philippine Entrepreneurs' Academy Act, which seeks to provide undergraduate and graduate degree programs on entrepreneurship.

Speaking at the plenary to sponsor the bill, the Chair of the Committee on Higher, Technical and Vocational Education cited the need to pass such a measure in order to boost entrepreneurship and strengthen the core competencies of up-and-coming Filipino entrepreneurs.

Under SB 2442, the proposed academy shall offer undergraduate and graduate degree programs and short-term diploma or certificate courses on entrepreneurship, including entrepreneurship development in the fields of agriculture, trade, technology and manufacturing.

The offering of specialized courses will directly boost the Micro, Small, and Medium Enterprises (MSMEs) sector--the backbone of the Philippine economy-- and drive economic growth.

"There is a dearth in curricular offerings tailor-made for incubating, managing, growing MSMEs, one which draws from experiences, both triumphs and failures, of local MSMEs," Escudero pointed out.

"This bill answers a need that is integral to national economic development plans of manufacturing resurgence, high value-chain creation, jobs generation, and enterprises that pay taxes which are plowed back to the people," he added.

The Academy's mandate includes the following:

(a) Enhance the core competencies of individuals on entrepreneurship;

(b) Cater to the needs of technical-vocational, undergraduate and graduate students;

(c) Promote the relevance of entrepreneurship to job generation and

sustainable economic growth of the country;

(d) Formalize and integrate, under a school system, the non-formal entrepreneurship programs and short-term technical-vocational courses of the Technical Education and Skills Development Authority (TESDA), Department of Trade and Industry (DTI), Department of Science and Technology (DOST), and other government agencies concerned;

(e) Provide education, consultancy and extension services;

(f) Supervise publication on entrepreneurship;

(g) Conduct scientific and policy-oriented research and training; and

(h) Perform other interventions as may be formulated by its Board of Trustee.

"The creation of this academy does not duplicate degrees that some State Universities and Colleges (SUCs) have already been offering. It will instead be offering specialized courses within this particular discipline. It fills a gap in the higher education landscape, one that is customized for a sector that is a growth driver, wealth creator, and jobs generator," Escudero said.

The academy will have two campuses, with the main campus to be established in the Clark Freeport and Special Economic Zone, which will be known as the Philippine Entrepreneurs' Academy Main Campus-Clark. The second campus will be put up in Baguio City, to be known as the Philippine Entrepreneurs' Academy-Baguio City Campus. The proposed law allows the creation of more campuses upon approval of its governing board.

SB 2442 was prepared and submitted jointly by Escudero's committee and the Committees on Trade, Commerce and Entrepreneurship; Ways and Means; and Finance.

Aside from Escudero, authors of the bill as per Committee Report 123 are Senators Manuel Lapid, Ramon Revilla Jr., Mark Villar, Cynthia Villar and Sonny Angara.

At today's plenary, Escudero also sponsored House Bill No. 7564 under Committee Report No. 135 which mandates that the incumbent president of the Mountain Province State Polytechnic College, which has already been converted into the Mountain Province State University by virtue of Republic Act 10583, shall serve as the first President of the MPSU.

News Latest News Feed