House Appropriations Vice Chair Brian Poe has flagged the lack of funding for the Philippine Innovation Hub during the Department of Trade and Industry’s (DTI) budget briefing in Congress.
Created to provide a platform for entrepreneurs and young companies, the Philippine Innovation Hub previously received P100 million — an amount that had supported mentorship programs, access to investors, and early-stage projects.
However, the program received no allocation in the proposed 2025 national budget.
Poe warned that the removal of funding would leave many entrepreneurs without institutional support, potentially causing promising ideas to stall before they are able to reach the market.
He added that the move could undermine the country’s startup momentum at a time when innovation is driving new jobs and industries worldwide.
“One of the programs very close to my heart is the Philippine Innovation Hub. I’ve worked in the startup industry for quite some time, and I noticed that its funding has been severely decreased, if not zeroed this year. Apparently, there’s no allocation,” Poe said during his interpellation.
DTI officials explained that startups may turn to the Department of Science and Technology (DOST) for support in research and development in the absence of dedicated funding. The DTI, in turn, would focus on providing market linkages and connecting entrepreneurs with potential investors.
For his part, Poe emphasized that such a shift should not mean abandoning a central program that was specifically designed to encourage innovation.
He has since assured the agency that his office would work with them to explore ways of restoring resources to the program during plenary deliberations.
“If there’s any way I can support DTI in growing its budget this year, I’ll do my best. Every peso invested here is an investment in our economy and in the future of Filipino entrepreneurs,” Poe concluded.
