THE Department of Trade and Industry announced that a P20-million fund for 2023 was created to jumpstart startups in the creative industry.
The Trade undersecretary said the initiative called “Creative Venture Fund” can either be in the form of a “co-investment, partnership and some other forms of collaboration with other partners from the startup community.”In a separate chance interview, Trade Secretary Alfredo E. Pascual said “the initial plan was to start with P500 million but we didn’t get the funding yet.”“It’s a one-time ; mayroon initial. And then we have to deploy the funds.
Pascual added the initiative is based on government’s view that access to capital is “crucial” in sustaining and expanding the operations of creative enterprises.