Innovation: key tool for promoting entrepreneurship and competitiveness

In order to highlight the importance of applying innovation tools to improve competitiveness and productivity, the Municipal Autonomous Government of La Paz (GAMLP), together with CAF-development bank of Latin America, the National Chamber of Commerce and the Chamber of Industry organized an international seminar-workshop with the participation of prominent exhibitors linked to R&D from the business world. 

During the inauguration of the event, the Municipal Secretary of Economic Development of the GAMLP said: “In the Municipality of La Paz, we are convinced that our role is not only to promote innovation; we also have to articulate between public, private and academic stakeholders, to be able to promote initiatives related to innovation and entrepreneurship.” In addition to thanking CAF for its support, he also explained that the workshop’s goals are aimed at studying different experiences from diverse perspectives related to innovation, as well as the innovation status in Bolivia, with regard to the region.

In turn, Gladis Genua, CAF’s representative in Bolivia, explained the importance of supporting innovation and development. She said that Latin America is a growing region that has undergone significant growth as of late, but mainly thanks to international prices of raw materials, and that it still has to work as a region in setting the foundation for structural, solid and sustained growth, allowing it to be less vulnerable to external movements. She explained that innovation is the fundamental anchor for countries to raise their productivity rates and achieve structural and sustained growth from there on out.

She also pointed out that innovation goes far beyond technological development: “Innovation is to develop a new technology that can make life easier for people; innovation is to do what we do today, but with fewer resources and more efficiently. Innovation consists of manufacturing products that adjust to the emerging needs of society and to the permanent change in the environment; for instance, making products that are more resistant to climate change.” Lastly, Genua explained that for innovation to take place, the triad of stakeholders involved (i.e., state, business and academia) should be aware of the need to promote and support and that CAF precisely promotes the articulation of such ecosystem of stakeholders to foster and facilitate the development of innovation among countries and thereby increase their productivity and long-term structural growth.

During the evening, the debate on this crucial issue was enriched with a presentation by Juan Carlos Elorza, CAF’s Director of Productive and Financial Development, who arrived in the country to convey the regional experiences in public policies for the establishment of Innovation Management Systems from governments as well as from other stakeholders in the innovation ecosystem, pondering their roles.

Interesting presentations were developed within the workshop program, including: How does applied innovation generate competitiveness and improve productivity?  David Zavaleta from EPC/UCB; Innovation outlook in Bolivia and La Paz, Jorge Velasco of the MAYA Foundation; GAMLP Progress in the establishment of innovation tools, Sergio Siles; Progress and opportunities when innovating in the financial sector - DIGITAL BANK experiences, Mauricio Dulón CETUS GROUP - DIGITAL BANK 2018 and specific experiences of local innovation with global projection, offered by Carlos Jordán from ULTRA CASAS, among other presentations.