The Innovation, Science and Tecnology Network is constituted by Vice-Ministers or public officials of equivalent status, responsible for innovation, science and technology (IST) policy in the Latin American and Caribbean countries. The network provides a forum to discuss common policy issues related to the performance of their IST systems and to explore regional cooperation initiatives.

The network’s main goal is to promote the exchange of ideas and experiences among the IDB’s borrowing member countries on policy and institutional reform initiatives aimed at strengthening the capacity and innovation performance of their national economies. It also seeks to identify best policy practices in areas such as strengthening industry/science relationships, research and development (R&D) support and incentive measures, innovation financing and human resources development in S&T; taking into account the diversity of the countries’ economic structure and institutional characteristics.

Network representatives participate in hemispheric and subregional meetings, in which they discuss possible cooperation initiatives that could build upon and leverage the region’s human, technological, financial and natural resources to develop regional and/or global innovation platforms or centers of excellence.