THE COMMITTEE on Higher and Technical Education at the House of Representatives created a technical working group to finalize a measure that seeks to support business incubation in academic settings.

During the virtual hearing led by Baguio City Representative Mark Go, members of the committee and representatives of different educational organizations suggested some provisions that will improve the original measure filed by Rep. Luis Raymund Villafuerte Jr.

One of the provisions include the involvement of the Department of Trade and Industry, technical-vocational institutions and other government agencies in the implementation of the measure.

Villafuerte explained that House Bill 9128 or the proposed Linking Educators and Developing Entrepreneurs for Reaching Success or LEADERS Act will authorize the Commission on Higher Education to support the establishment and development of incubators.

Business incubators housed in academic settings provide unique educational opportunities for students, he added.

It also provides entrepreneurs with enhanced access to a skilled workforce and bring a wealth of resources to business, academia and communities.

“Education in entrepreneurship and other business formation skills is essential to business success and sustainable economic development,” he added.

Funds awarded to establishment may be used for curriculum, training or technical assistance developed by academic faculty with participation from entrepreneurship experts and local government leaders.

It can also be used for programming that contributes to a coordinated set of business assistance tools and hiring staff to coordinate the activities.