Catalyzing Innovation in Latin America: Building a Collaborative Future

Session Description 

Latin America is transforming its approach to innovation and entrepreneurship. The current wave of technological disruption presents a unique opportunity for the region to leverage its talent, creativity, and entrepreneurial spirit to drive inclusive growth and competitiveness.

Public innovation agencies are emerging as key actors in addressing this challenge, boosting science-based entrepreneurship, strengthening ecosystem connectivity, and designing smarter public policies.

This session brings together leaders from the Latin American Network of Innovation Agencies (RELAI), an initiative supported by the Inter-American Development Bank, to share how regional collaboration is unlocking new opportunities for entrepreneurs across the continent.

Join us to explore:

• Co-investment mechanisms and startup support programs
• Talent development and retention strategies
• Technology transfer and commercialization efforts
• Cross-border collaboration to scale innovation initiatives
• Discover how Latin America is moving from isolated efforts to coordinated action—and what the world can learn from this growing movement.

Session Recap

This session brought together leading voices from Latin America's innovation landscape to discuss the significant shifts boosting entrepreneurship and the crucial role of public innovation agencies like ANII (Uruguay) and CORFO (Chile). Hosted by Vanderleia Randaelli from the Inter-American Development Bank (IDB), with panelists Sara Goldberg from ANII and Jose Miguel Benavente from CORFO, the discussion explored how the region's dynamic entrepreneurial spirit is driving knowledge-based economies. The conversation highlighted the instrumental role of public agencies in designing and implementing policies, supporting R&D, facilitating technology transfer, and providing funding and mentorship. Panelists shared insights into the evolution of their respective innovation ecosystems, the increasing collaboration between public and private sectors, and the key challenges and future directions for fostering a more robust and inclusive innovation system in Latin America.

Outline
Here are the main discussion areas covered in the session:
• The evolving innovation landscape and growing recognition of knowledge-based economies in Latin America.
• The crucial role of public innovation agencies in fostering robust and inclusive innovation systems.
• Significant shifts and factors boosting innovation and entrepreneurship in the region over recent years.
• The historical perspective of Chile's growth strategy switch towards entrepreneurship and innovation.
• The impact and evolution of key programs like CORFO's risk funds and Startup Chile.
• The "snowball" effect of regional learning and competition in innovation policies.
• Detailed discussion on the collaboration between public and private sectors in boosting entrepreneurship.
• Key factors for successful public-private collaboration, including trust, perceived benefits, and co-evolution.
• The institutional role of agencies like ANII and CORFO in informing government policy and decision-making, including using data and thinking innovatively.
• Addressing the challenge of boosting science-based entrepreneurship, including identifying gaps and creating specific programs like Startup Labs.
• Major challenges hindering innovation and entrepreneurship in Latin America, such as small markets, regulation, financing gaps, talent, and bringing actors together.
• Analyzing challenges from both supply-side (increasing idea flow, scaling up) and demand-side (structuring challenges) perspectives.
• Addressing national, social, and environmental challenges through innovation policies and specific instruments like Public and Private Challenges and public innovation tenders.
• Discussion points raised by the audience regarding support for micro businesses, attracting private/angel investment, and the role of the local community in supporting entrepreneurship.

Notable Quotes
Here are a few impactful statements from the speakers:
• "First of all, we put innovation on the table." – Sarah Goldberg, ANII
• "The main effect which is documented... is the effect this have done in the Chileans as a way to see entrepreneurship to become a way of living and create wealth your own country." – Jose Miguel Benavente, CORFO
• "It's a co-evolutionary process between the private and the public sector about this kind of policies because the start nobody knows what to do." –  Jose Miguel Benavente, CORFO

Key Takeaways
Here are some key insights from the session:
• Consistency of public policy is paramount for fostering trust with the private sector and encouraging long-term investment and collaboration in the innovation ecosystem. Programs like Startup Chile and Corfo's risk funds have built this trust through years of sustained operation across different governments.
• Effective collaboration requires both the public and private sectors to clearly see the benefits of working together. It's a "win-win relationship" based on mutual trust and understanding.
• Public innovation agencies play a crucial role beyond funding; they are vital in providing data for evidence-based policy, connecting different actors in the ecosystem, and helping governments "think out of the box".
• Addressing challenges like small markets and scaling requires tailored policies that go beyond just supporting individual startups, including promoting ecosystem development, providing sophisticated financing, and structuring demand.
• Innovation policies are increasingly expected to address social and environmental challenges. Agencies are developing specific programs like Public and Private Challenges and innovative public tenders to match problems with innovative solutions, driving inclusive growth.

Resources Mentioned
The following programs and initiatives were discussed as key instruments:
• CORFO Risk Funds
• Startup Chile program (CORFO)
• Startup Labs program (CORFO)
• Public Challenges (ANII)
• Private Challenges (ANII)
• Innovative Public Tenders (CORFO, new program based on Spain's model)
• Extensionism mechanism for technology transfer to micro businesses

Action Items
While no specific action items for attendees were discussed, the session concluded by encouraging the audience to continue the conversation during the event.