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March 15th, 2007
A team of the engineering students from state university UP Diliman won P100,000 in prize money for developing a technology that uses radio frequency identification or RFID technology.
Called Philippine Emerging Startups Open (PESO) Challenge, the contest aims to encourage schools to develop viable technology-driven business ideas.
RFID uses wireless signals to transmit information from tiny tags that can be embedded in just about everything. The technology shows a lot of promise for various industries from retail to nanotechnology because of its various applications.
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