CAF and the Department of Science and Technology (SENACYT) successfully apply for 125 technology patents in Panama

Patenting of the technological innovations produced at the Intensive Accelerated Patent Development Workshops, organized by CAF-development bank of Latin America- and the Panamanian Department of Science and Technology in 2016 and 2017, began in January 2018, prioritizing support for technological innovation, specifically for producing patents, to promote competition and productivity in Panama.

Of the patents applied for, 125 passed the novelty verification stage and began the patent process under the Industrial Property Patent Registration Directorate of Panama (DIGERPI) and through the Patent Cooperation Treaty (PCT). With this number of applications, Panama was the Latin American country that submitted the most applications per one million inhabitants via the PCT for the second time, having achieved this for the first time in 2016.

Twenty-one organizations in Panama benefited, including universities, private companies and public sector companies in sectors such as energy, agribusiness, education and entertainment, which must continue on to the next stage of the patenting process and establish technology testing and marketing strategies.

The main sectors for which patents were applied for were energy, agribusiness, education and entertainment. Applications were submitted for devices and methods that could be used to provide substantial advantages with regard to solutions currently available on the market.

CAF’s Productive and Financial Development Director, Juan Carlos Elorza, said that “the results we have had in Panama have encouraged us to continue promoting technological innovation in the region and empower Latin Americans in this area, as a major step forward in closing the technology gap that separates us from other parts of the world, such as Asia and North America. In order to cover the entire region, we have adapted the methodology used on the online platform workshops to create the CAF Method to speed up the patent process. The MOOC will open on June 26 and we hope it will awaken interest throughout the region and make a positive contribution to competition and productivity”.

Víctor Sanchez Urrutia, Business Innovation Director at SENACYT, stated that “these 125 patent applications are an important part of our innovation policy that seeks to create a new business dynamic in Panama based on know-how and innovation. Creating the skills and knowledge to register and market intellectual property, one of the purposes of the alliance with CAF, is also an important part of the strategy.”

As positioning Panama as one of the region’s leading countries is still one of the CAF and SENACYT objectives, they will be joining forces to organize the Accelerated Patent Process Marathon, to be held for the third year running in Panama City on July 16-20. On this occasion, greater emphasis will be placed on mixed groups, so that the private sector may work hand-in-hand with universities in creating patentable technologies that will have a major impact on the region’s economies.