Section 4Sec./Art. 4

Objective. -The objective of this Act is to generate and scale up action in all levels and areas of education, training, research and development towards promoting innovation and internationalization activities of MSMEs as driver of sustainable and inclusive growth.

The specific objectives of this Act are as follows:

(a) Promote a culture of strategic planning and innovation to encourage creative thinking and knowledge creation and dissemination towards expanding and maintaining economic competitiveness;

(b) Improve innovation governance in the country and compel the adoption of a long-term vision and focused priorities for innovation;

(c) Ensure effective coordination and eliminate fragmentation of innovation policies and programs at all levels;

(d) Strengthen the position of MSMEs in the innovation system;

(e) Remove obstacles to innovation by suppressing bureaucratic hurdles, and adapting the regulatory framework to support the creation of and diffusion of new knowledge, products, and processes;

(f) Encourage entrepreneurial attitude in order to stimulate growth ambitions in businesses, especially among MSMEs;

(g) Explore, promote and protect the potentials for innovation of traditional knowledge, traditional cultural expressions and genetic resources; and

(h) Strengthen and deepen interactions and partnerships among different actors from the public and private sector, academe, MSMEs, research and development institutions and communities towards promoting inclusive growth and improving the quality of life through innovation.