CAF promotes the development of technological patents for development
The region has an enormous potential in the energy sector as a results of the diversity of its natural resources and its ample market. Energy efficiency is an immediate option, and the most cost-effective available.
Latin American high technology exports are considerably surpassed by other regions in the world. Excluding Japan, Asian exports in this area during 2012 represented USD 596.642 billion, while in the region they reached 51.646 billion, that is, hardly 8 percent of the total exported by Asia.
The gap increases with respect to applications for technological patents. For example, South Korea alone has 24 times more patent applications than the whole Latin American region. However, the region has an enormous potential for the development of technological patents in the energy sector, due to the diversity of its natural resources and its wide market.
Two areas of interest to innovate are the technologies related with renewable energy resources, and energy efficiency, as indicated by the publication "Energía: una visión sobre los retos y oportunidades en América Latina y el Caribe" (Energy: a view of the challenges and opportunities in Latin America and the Caribbean).
With respect to the development of generation technology with renewable resources, a reduction in installation costs has been observed during past years, especially for interconnected systems in solar technologies, and significant advances have been experienced in technologies that take advantage of wind-powered resources.
In addition, energy efficiency is an immediate option, and the most cost-effective available in the short term, with respect to the development of energy policies. The potential for technological innovation in this sector is huge, especially in urban areas in the scenario of an increasing middle class which is acquiring high energy consumption components and artifacts. An example of opportunities for the development of new and more efficient technologies is found in the air conditioning sector for home and hotel use in the Caribbean.
CAF, Development Bank of Latin America, is structuring a regional technological patents initiative, seeking to contribute to release the existing potential. The purpose of this initiative is to establish a regional platform that promotes the creation of patents, thus supporting innovation in the region.
CAF's more recent content
Latin America and the Caribbean seek a regional brand
CAF - development bank of Latin America and the Caribbean - aims to generate new opportunities for the countries of the region through greater international projection that attracts investment, cooperation and tourism, among others.
CAF doubles its Caribbean shareholder countries
Continuing to deepen its engagement with CARICOM countries, CAF – Development Bank of Latin America and the Caribbean – convened a meeting with CARICOM Ministers of Finance during the WB-IMF Spring Meetings in Washington DC to advance the process for incorporating its three new Caribbean shareholder countries – Bahamas, Dominica and Grenada – into the financial institution.