Chile needs science- and technology-based companies

Letter to the Editor

Dear Editor:

How can we accelerate a solid economy? Deepening technological change and the emergence of new innovation models, thanks to science- and technology-based companies (EBCTs), may be the answer.
EBCTs matter to the economy. They are often a source of new ideas and technological solutions that drive progress and innovation. The result is more efficient, practical or accessible products or services, which improves productivity and economic competitiveness.
They have the potential to create new jobs in specialized, high-value-added fields that require technical skills and advanced knowledge. By generating employment and income, they raise consumption levels and demand for goods and services. They have a multiplier effect on economic activity.
And that is not all. They are often attractive to investors. They offer long-term growth and profitability opportunities. They attract domestic and international investment, adding funding and resources to drive research and technological development.
Fostering and supporting these ventures is essential for the sustainable and competitive development of a knowledge-based economy, a commitment for which Chile already has a clear roadmap.

Óscar Astudillo

Innovation Coordinator, Know Hub Chile