Technological Patents for Development

The region needs to increase the introduction of new versatile and efficient technological solutions in the use of resources to overcome the challenges of development. CAF, Development Bank of Latin America, has identified the need to promote the generation of innovative patentable technologies aimed at the solution of local and global challenges not only to strengthen the technological capacities of the countries of Latin America and the Caribbean, thus complementing their national technological innovation systems, but also to contribute to increase exports of high technology from the region. 

On this basis, the financial institution launched the regional initiative Technological Patents for Development, a call for entries that seeks to promote the presentation of patentable technological concepts by individuals and institutions, as well as the creation of patent incubators in the region. 

Enrique Garcia, CAF's Executive President, stated, "through this initiative, CAF expects to provide inventors and innovators in the region with tools that contribute to release their creative potential in the conceptualization of technologies, in an effort to increase the international patenting activities of our countries." 

The Institution's intention is to promote a platform that offers inventors and innovators, regardless of their academic training, the possibility of presenting specific and applicable ideas, designed to solve specific problems identified by CAF, that affect not only the Latin American region, but others too. 

Garcia, head of the Institution that advocates for sustainable development and Latin American integration stated, "From the point of view of exportable patented technologies, it is not effective to seek solutions for their own countries. It is better to think about problems that affect more nations and which may be solved with the invention that is being promoted." 

Enrique Garcia stated that, "The final purpose of the initiative is to contribute to increase Latin American exports. This is achieved by exporting patented technologies, providing licenses to obtain royalties, or selling the patents. All the possible modalities should be used." 

The call for entries for innovators/inventors of the region is already available at www.caf.com/patentes,  for them to generate patentable technological concepts to solve three or four significant problems at a world level, which will be pre-established by the financial entity. 

To be patentable, before sending their idea they must make sure that there is nothing similar that has been previously patented. Otherwise, their idea would be public knowledge. 

CAF will supply information regarding existing patents to inventors and innovators so they can limit the universe of their creation and present something really innovative.