Research & Innovation
From The Report: Colombia 2014
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The economic growth Colombia has seen over the past decade is multiplying opportunities to strengthen research and innovation, while new investment from a growing number of firms already operating in the country is helping to raise the sector’s profile. Averaging 0.18% from 2009 to 2013, investment in research and development (R&D) remains well below regional neighbour Brazil’s 1.2% and the OECD average of 2.4%. However, it is set to reach 0.2% in 2014. A marked imbalance between private and public investment remains, with only about 30% of R&D in Colombia being conducted by private businesses, compared to 65-75% in OECD countries. Nonetheless, an impetus to improve the laws for intellectual property, coupled with funding programmes for innovation at small and medium-sized enterprises, continues to push private companies to modernise. This chapter contains an interview with Juan Camilo Quintero, Executive Director, Ruta N.