ANGARA CALLS FOR A STRONG TECHNOLOGY TRANSFER FOR RP

Expressing his concern over the alarming innovation system of our country, the transfer and commercializing the results of Research and Development (R&D) are found weak, Senator Edgardo J. Angara calls for a strong technology transfer in RP.

The weakest link in the country's innovation system is the process of transferring and commercializing the results of research and development (R&D) particularly those undertaken by government-funded R&D institutions. One of the reasons is, the technology transfer process requires a conducive policy environment with strong support from public and private sectors.

"It is not incapacity of our labor force but it is the lack of support from institutions that will aid their studies and development," said Angara who introduced SB 1721 or the Technology Transfer Bill.

He added, "The Philippines has yet to achieve high level of technological readiness and innovative aptitude that epitomizes well-developed economies and those entering the developed phase like India."

Technology transfer refers to the process by which one party gains access to technology of another party, and successfully learns it and applies it for productive ends.

SB 1721, which Angara filed, hopes to presage a stronger and closer private-public collaboration or closer relationship to industry; provide the framework that will promote coordination, integration and harmonization of all technology transfer efforts by various agencies in the country; resolve issues on technology ownership, and provide the institutional mechanism for developing a creative technology transfer capability.

Angara, who chairs the Senate Finance Committee, stressed that the country has a lot of catching up to do in terms of innovation. To do this, the country has to become responsive to opportunities of knowledge-based economies characterized by growing innovation and heightened dependence on intellectual property assets as a key source of economic value and competitive advantage.

The Philippines, he said, is not getting any stronger in terms of product sophistication and intellectual property that is very vital in attaining market power over competitors. If this is achieved, only then we can speak of funding and attract more inventors and creators.

"We must continue to strive for increased global competitiveness and harmonization of all technology transfer efforts to place ourselves high up against developed countries," added Angara.