Lyon, the company behind Boozt, receives ₱4.1 million grant from DOST to drive its R&D efforts
Press Release 13 Jan 2023

Lyon, the company behind Boozt, receives ₱4.1 million grant from DOST to drive its R&D efforts

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Manila, Philippines - Boozt, a creator tech startup, announced today that it had received a ₱4.1 million grant fund from the Department of Science and Technology (DOST) - Philippine Council for Industry, Energy and Emerging Technology Research and Development (PCIEERD) as part of its ”Startup Grant Fund Program: Powering Startups to Thrive in the Next Normal.”

Boozt, a marketplace platform that creates opportunities for Filipino creators to earn and for fans to discover new talents, will use the funds to enhance the platform through Research and Development (R&D) efforts. The goal is to professionalize the creator economy in the Philippines, which is aligned to the Republic Act (RA) No. 11904 or the Philippine Creative Industries Development Act.

This law aims to legitimize creative careers in the country and strengthen the frameworks supporting and protecting artists. The creative economy in the Philippines contributed 7.4% of gross domestic product (GDP), or ₱661 billion, in 2014.

“We are honored to receive this grant from DOST-PCIEERD and excited to continue our mission of empowering Filipino creators and connecting them to a wider audience through our platform,” said Jason, CEO of Lyon. “Our goal is to help creators earn more and spend less, and help fans to find and support their favorite creators. This grant will allow us to take our platform to the next level and support the growth of the Philippine creative economy.”

The grant will be used to push research and development efforts in the following areas:

  • Discovery and recommendation engine
  • Search engine
  • Personalization

These R&D efforts will help to improve the user experience and make it easier for creators, artists and fans to connect on the platform.

“We envision that our discovery and recommendation engine will allow creators to be discovered by a wider audience, personalization will make the platform more appealing for fans, and our semantic and image search capabilities will make it easier for fans to find what they’re looking for,” said Adrian Dayrit, CTO of Lyon.