Bicol University and Camote Creations Cooperative Signs License Term Sheet to Advance Fairness Opinion Report Process

Legazpi City, April 29, 2025 — In a landmark step towards inclusive innovation and technology commercialization, Bicol University (BU) and the Camote Creations Farmers and Entrepreneurs Producers Cooperative formally signed a License Term Sheet on April 29, 2025, at The Pepperland Hotel in Legazpi City. The agreement sets the stage for the issuance of a Fairness Opinion Report (FOR) for the Energy Bar of Bicol University, a critical requirement under the Technology Transfer Act of 2009 (RA 10055)

Representing Bicol University was Dr. Arnulfo Malinis – Director of CTCED, while Ms. Angelene Mariñas, Cooperative Manager stood for the Camote Creations Cooperative. Present also during the signing is Prof. Janesa A. Reyes – technology generator of Energy Bar. The signing underscores a shared commitment to advancing community-based enterprise through equitable and sustainable technology transfer.

The License Term Sheet outlines the preliminary terms for the potential commercialization of an innovation developed within the university and adopted by the cooperative. The next step involves securing the Fairness Opinion Report—a due diligence mechanism that ensures the terms are reasonable and beneficial to both parties, particularly in the context of public-interest technologies. The issuance of the Fairness Opinion Report is expected to be completed in the coming months. This initiative not only fulfills legal and institutional requirements for public-private technology transfer but also exemplifies how partnerships between academic institutions and community-based enterprises can lead to inclusive economic growth.