SCIENCE AND TECHNOLOGY
SCIENCE AND TECHNOLOGY
INNOVATION IS ESSENTIAL FOR MORE PRODUCTIVITY AND ECONOMIC PROGRESS
FIVE THINGS YOU SHOULD KNOW ABOUT SCIENCE AND TECHNOLOGY
  • 1

    For companies and countries, innovation is an essential part of sustainable competitive advantage, increased productivity and economic progress.

  • 2

    Innovation acts as a key determinant of long-term growth by improving ways of combining capital and labor.

  • 3

    About half of the disparity in income levels and growth rates between countries due to differences in total factor productivity.

  • 4

    Studies have concluded that investment in research and development explains up to 75% of the differences in total factor productivity growth rates.

  • 5

    A decisive factor for an economy based on knowledge is the exponential growth of information generated by the expansion of information technology and communications.

OUR VISION

We help to strengthen competitiveness through corporate innovation, making clear that knowing the region’s economies is crucial for success within the context of current technological changes.

CURRENT FOCUS AREAS

Boosting science, technology and innovation investment, both public and private, in order to reduce the innovation deficit characteristic of the region’s economies.

Support the countries of the region in taking full advantage of the potential of the digital economy and mitigating its negative effects.

Support the generation of highly qualified human capital as a key component to sustain and further develop innovation ecosystems.

Increase public and private investment in technological and scientific infrastructure.

Improve the business and innovation climate for greater development of the private sector and for more intense business innovation.

STATISTICS

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IDB FINANCING

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Subsector Breakdown

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