Gloria Maldonado

Innovation in Chile:A National Priority

Chile has seen outstanding growth and stability during the past two decades.

Today’s challenge is to continue the forward movement so that Chile can reach greater levels of technological sophistication and development to contribute to the country's consolidation of its IT, electronics, mining, aquaculture, forestry, and food industries.

Chile has set the stage for development and innovation in Latin America.

Ranking of Competitiveness

2010-2011

30th place among 132 countries around the

world

Chile has the most competitive economy in

Latin America

Nº 1 LATAM

Country Ranking 2010-2011

Switzerland 1

Sweden 2

Singapore 3

United States 4

Germany 5

UK 12

China 27

Chile 30Estonia 33

Czech Republic 36

Thailand 38

Poland 39

Spain 42

Portugal 46

Italy 48

India 51

Panama 53

Brazil 58

High Competitiveness

Source: World Economic Forum (www.weforum.org)

Represents 63% of world population (2010)

Chile has 21 agreements with 58 countries

BoliviaCubaEcuador

MERCOSURVenezuelaIndiaP-4

European UnionAustraliaCanadaCentral America

ChinaColombiaKoreaEFTA

U.S.A.JapanMexicoPanama

PeruTurkey

P4: Chile, New Zealand, Singapore, BruneiEFTA: Iceland, Norway, Switzerland, Liechtenstein

Free Trade Agreements Market of 4.2 billion

Agreements SignedAgreements NegotiatedAgreements under Negotiation

Source: IMF

With a growth of 6% per year, Chile will reach a GDP per capita of US$ 23,000 in 2020, similar to those already classified as developed countries.

Main Goal of the Chilean Government:A developed economy by the end of the decade

79

10 11 1214 14 14 15 15 16

18 19 1922 22 23

2527

29 29 29 30

33 34 35 35

39 40

48PIB per capita 2010 (Miles de dólares, paridad de poder de compra)GDP per capita 2010(USD PPP Thousands)

To transform Chile into an innovation and entrepreneurial hub for Latin American

To achieve this Goal

- Bring new and innovative ideas to market

- Create a culture for innovation and entrepreneurship

7Gobierno de Chile | Corporación de Fomento de la Producción – CORFO

Informede Gestión CORFO 15 Junio 2011

InnovaChile of CORFO

InnovaChile of CORFO

The Chilean Economic Development Agency, CORFO was created in 1939.

Its main purpose is to help increase the competitiveness of the Chilean economy and companies (especially SME’s):

• Improving access to long term financial resources and their managerial capabilities, and

• Supporting technological innovation, through InnovaChile• Promoting foreign investment and strategic alliances.

CORFO

Improve the country’s productivity

Increase the economy’s growth rate

What do we look for?

Innovation System in Chile

Others*

Companies Individuals Technological Institutes Universities

National Innovation Council

Chilean Government

Ministry Of Economy

Corfo Conicyt

* Others: FIA, Millennium Program

InnovaChile• Public Agency in charge of applying Chilean Innovation Policies to

increase competitiveness

• Operates as a matching fund, providing grants to companies and technological centers who submit projects (demand driven)

• Nearly 55% of the total cost of projects is financed by private companies

• The level of public financing provided by InnovaChile depends on:

• Risk level• Innovation potential• Economic potential and externalities• Degree of collaborative effort

InnovaChile

CLIENTS: Companies - Entrepreneurs Technological Institutes Universities

SERVICES: Grants (shared costs, risk) Expert technological assistance Innovation support networks

Main Areas of InnovaChile

Technology Transfer

Corporate Innovation

InnovativeEcosystem Entrepreneurship

Technical and Business

Advisory Services

Of beneficiaries are SMEs 91%

Of the mobilized funds destined to SMEs89%

Direct beneficiaries. 682 per day!

167.099Mobilized during 2011. US$332 million with public funding, and US$2.311 million leveraged.

US$2.644Million

Some 2011 figures

15

• From 2001 to date, through Private Public alliances, Chile has supported:

14 Genomics-related Programs (US$66 millions, 56% public):

Fruits, Biomining, Forestry, Salmon, Wine, Rainbow Trout

17 Technological Consortiums (US$132 millions, 45% public):

Forestry, Vineyards, wine, Fruits, Milk, Cancer , Chemistry of natural products, Salmon Biotechnology, Animal Health, Biomedicine, Aquaculture, Sheep, Potatoes, Honey, Lignocellulose’ Biofuels

Main AchievementsMain Achievements

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• Since 2005, InnovaChile has subsidized:

3,100 innovation projects, benefiting 9,500 Companies

The creation of over 400 companies through seed capital

The launching of 24 R&D Centers and 110 Technology Transfer Nodes through out the Country

19 incubators through out the country

26 International Market Prospection Programs for exporting companies

10 Business Platforms for new markets in Asia, Europe and the US

Main Achievements

InnovaChile’s Support for internationalinitiatives

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• An accelerator program created by the Chilean government that seeks to attract 1,000 high-potential global startups, to bootstrap their startup using Chile as a platform to go global.

• Its goal is to foster the interaction between Chilean and global entrepreneurs to strengthen the relationship between Chile and other innovation hubs around the world.

Attraction of International Centers of Excellence

• Designed to facilitate the installation of International Centers of Excellence in Chile.

– To create and maintain new capacities and infrastructure in science and technology areas that have an impact on Chilean main economic sectors

– Focused in generating results, new knowledge and technological breakthroughs

– Establishing and promoting the development of local skills, through alliances with Chilean entities, technological and scientific research centers.

Seeks to support Chilean entrepreneurs to kick off their startups in a global environment helping them to accelerate their business in a world‐class incubator/accelerator.

Oriented to place Chilean startups in different market environments around the world, providing them with the proper platform and support to globalize their business.

Global Connection Program

Applied R&D Program• Oriented to promote the collaboration

between Chilean and foreign R&D centers, to make business and technological prospection in order to formulate associative projects of Innovation R&D

• Relevant for countries that have signed International Science and Technology Collaboration Agreements with Chile

• Finances aspects such as:- Technological prospection - International associate prospection - Technological missions - Internships- Market and legal Studies- Formulation of joint Innovation R&D projects - International Assistance

Gobierno de Chile | Corporación de Fomento de la Producción – CORFO

Thanks!www.corfo.cl