Business innovation: a CAF tool to boost productivity in Argentina

As part of the Support Program for Business Innovation, CAF-development bank of Latin America- hosted “Innovation Week 2018” on 27-31 at the Cuyo National University in Mendoza, Argentina.

On the first day, CAF’s Director-Representative for Argentina, Andrés Rugeles, warned: “Latin American countries face an enormous challenge in productivity and diversification amidst the current economic scenario. Once production factors such as capital and labor have reached their growth potential, innovation will be the driving force for long-term sustainable growth in the country. Around 85% of the productivity profits come from investments in innovation, such as research and development, which generates value to companies.”

Rugeles also listed the challenges facing the region to reach production levels of developed countries and described some of the programs developed by CAF to provide a comprehensive solution to these challenges, such as the “Regional support program for business innovation” and the “Institutional strengthening program in patentable technology innovation.” “We hope that during these days of committed work companies will manage to implement best practices on innovation, so that we can become allies in making these practices sustainable in the long term,” he concluded.

The first day of “Innovation Week 2018” also featured CAF top executive Jairo Tiusabá, the Dean of the Faculty of Agricultural Sciences of the Cuyo National University, Flavia Filipini, entrepreneur Susana Balbo, and Regional Manager of Banco Supervielle, Adrián Rizo.  The director of Transforme Consultores, Guillermo Beuchat, delivered a lecture on “Myths and paradigms” in business innovation, while Paolo Garbarini presented the successful case of the company he founded, Ilegal Malted Wine.

CAF is sponsoring “Innovation Week 2018” to encourage and support companies in their production innovation models, gathering major companies and public officials in the province of Mendoza. Through this 6^th edition of the regional workshop, CAF reinforces its commitment to tackle institutional and innovation challenges in the region.