Twala receives a P4.6M grant from DOST
Blockchain-based solution Twala received a P4.6 million (U.S.$82,333) fund from the Department of Science and Technology (DOST) Grant Fund Program.
Twala co-founder and CEO Jeffrey Reyes said that the fund would be used to improve the platform’s security measures and boost the company’s research and development operations.
“We thank the DoST-PCIEERD for their support. Despite its increasing adoption, blockchain’s full potential is yet to be realized,” Reyes stated.
He added, “We want to leverage our experience and knowledge to dive further into this trend and learn more about how blockchain can improve our lives.”
Established by the DOST-Philippine Council for Industry, Energy, and Emerging Technology Research and Development (PCIEERD), the grant fund program aims to provide startups with financial assistance to help boost their reach.
DOST-PCIEERD Chief Technology Transfer Officer Russel Pili noted that the agency seeks to assist more startups in the future to allow them to fulfill their obligations in the science and technology sector.
