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Instituto Tecnológico de Santo Domingo

Government must create policies to encourage innovation

Dr. Víctor Gómez Valenzuela, Vice Chancellor for Research and Liaison of INTEC, gave a lecture during the Global Entrepreneurship Week

Government must create policies to encourage innovation

SANTO DOMINGO. - The Government should crear the public policies and the mechanisms of Incentives so that companies invest en innovation, affirmed the Vice Chancellor of Research and Liaison of Instituto Tecnológico de Santo Domingo (INTEC), doctor Víctor Gómez-Valenzuela, when giving the conference "Innovation and Entrepreneurship: towards a virtuous cycle of development in the Dominican Republic", during the Global Entrepreneurship Week, organized together PROINDUSTRIA

He considered that the framework of policies must evolve to move from a hostile environment to a enabling environment for innovation and the dynamics of entrepreneurship. “The creation of an enabling environment would allow companies to access mechanisms such as the National Fund for Innovation and Scientific and Technological Development in a more effective, dynamic and independent way (FONDOCyT) ”, He explained.

Gómez-Valenzuela clarified that it is not about creating tax incentives but rather about moving the productivity frontier within a tax system that promotes innovation, productivity and competitiveness.  

“It is not about giving money or making tax exemptions, but rather establishing facilitating conditions, for example, deferred payments of taxes on income or on capital assets, when such resources are used for innovation and Research and Development projects (I + D), among other value-creating activities. " Similarly, it identified instruments such as reduced rates for intellectual property licenses in the case of patents and research projects with universities and research centers. 

The also past Vice Minister of Science and Technology and former Vice President of the Inter-American Commission on Science and Technology of the Organization of American States (OAS), stated that other barriers to develop innovation they are the costs and financing of innovative projects; inappropriate laws and policies; the limitations of the public-private dialogue on innovation; he poor public-public dialogue; The scientific-technological infrastructure; The research and development spending (R & D);  limited coverage in education and training in basic science and mathematics; the governance of the national innovation system, among other barriers.  

In addition, he called for fostering a culture to improve the capacity to register activities that create knowledge and value such as patents, utility models, and industrial designs, among others. He urged the State to support innovation, invention and entrepreneurship initiatives that are being developed within universities, as well as those carried out by independent inventors.

The Global Entrepreneurship Week sold out a wide program of activities and was open to students, entrepreneurs, industrialists and interested parties. It was held at the Convention Center of the Ministry of Foreign Affairs (MIREX).

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