CAF presented a plan to generate technological patents

(Montevideo, December 2013).CAF, Development Bank of Latin America, presented in Uruguay its Technological Patents for Development Regional Initiative,a plan aiming to promote the conceptualization and design of innovating devices in the region, which may be internationally patented, and marketed. 

Alvaro Atilano, Principal Energy executive at CAF, explained that the organization's intention is to promote a system that offers inventors and innovators, no matter what academic training they have, the possibility of presenting concrete and applicable ideas, designed to solve specific problems identified by CAF that no only affect the Latin American region but other regions too. 

In this regard, Atilano explained that from the point of view of exportable patented technologies, it is not useful to seek solutions only for your country. It is important to think of problems that affect more nations and that may be overcome with the invention being promoted. 

At the same time, Gladis Genua, CAF's Director Representative in Uruguay, stated that the Institution promotes the comprehensive development of Latin America, for which it is necessary to encourage "more diversified productive structures with more technological content and knowledge". Genua noted that the Technological Patents for Development Regional Initiative is "totally aligned with this objective". 

Identifying a problem, analyzing if the necessary technologies to solve it already exist, evaluating the status of the patent activities related with the technological sector, and studying the market to identify if there are interested parties in the acquisition and marketing to produce the new proposed technologies are the four necessary steps that justify obtaining an invention patent. 

In 2014 CAF will create "patent incubators" that will be in charge of working with the selected inventions to make sure they are successful. The web site (www.caf.com/patentes) will be available in February, and innovators/inventors of the region will be called upon to generate technological concepts that may be patented to solve three or four essential problems at a world level, which will be pre-established by the financial entity. 

Atilano pointed out that "people will access the technological challenges that are of interest to us, and if they believe they can conceptualize a feasible invention, they will be able to present it for its evaluation". 

However, in order to patent an invention, before sending their ideas they must check that there is nothing similar that has been patented before, because that would mean they are already public property. 

CAF will provide information on existing patents to inventors and innovators, so they can limit their creation to present something that is really innovative. 

CAF proposes two ways of participating in the Initiative. In one modality, the inventor/innovator cedes the intellectual property to a patent incubator in exchange for a cash prize and a contract to share the royalties in equal parts between the inventor and the incubator, if his concept is selected. The incubator will be in charge of processing the patent, the research and investment to develop the prototype, and placement in the market. The other modality is that inventors/innovators maintain their rights over the patents. In this case, the inventors/innovators whose concepts are selected will receive as prize only financing for the expenditures related to the provisional patent application in the United States, due to the dimension of the country's market and the speed at which that country processes the applications. 

Atilano pointed out that "the final purpose of the initiative is to contribute to increase Latin American exports, by exporting patented technologies, providing licenses, or selling patents to earn the royalties. It is important to use all the possible modalities".