Innovation
Creation and implementation of new value-adding solutions.
What it triggers
- In Panama's National Strategic Plan for Science and Technology (PENCYT) 2025-2029, the plan promotes the creation and implementation of new products, services, and processes that add economic value.source
- Panama's National Strategic Plan for Science and Technology (PENCYT) 2025-2029 sets out support for startups, technology transfer, and commercialization as part of innovation.source
Definition
The creation and implementation of new products, services, and processes that add economic value, including support for startups, technology transfer, commercialization, and the strengthening of innovation ecosystems as promoted by the plan.
Not to be confused with
Research and Innovation (R&I) encompasses basic and applied research plus knowledge transfer, whereas innovation focuses on the creation and implementation of new value-adding solutions.
An innovation ecosystem is the network of actors supporting R&D and commercialization, while innovation itself is the creation and implementation of new value-adding solutions.
Questions and answers
What does innovation mean in Panama's PENCYT plan?
Innovation is defined as the creation and implementation of new products, services, and processes that add economic value. The plan promotes support for startups, technology transfer, commercialization, and strengthening of innovation ecosystems.
How does Panama's PENCYT support innovation?
Panama's National Strategic Plan for Science and Technology (PENCYT) 2025-2029 promotes innovation through support for startups, technology transfer, commercialization, and the strengthening of innovation ecosystems.
What are the focus areas of Panama's PENCYT?
Panama's National Strategic Plan for Science and Technology (PENCYT) 2025-2029 is a comprehensive five-year strategic plan for science and technology development, with digitalization and artificial intelligence as one of six key focus areas.
Related Terms
Research and Innovation (R&I)
Basic and applied research plus knowledge transfer for socio-economic impact....
Workforce Development
Initiatives focused on enhancing the skills, education, and employability of the labor force to meet industry demands....
Technology and Innovation Hubs
Regional centers for technology commercialization and R&D....
innovation ecosystem
Network of public, private and academic actors supporting R&D and commercialization....
Economic Development Initiatives
Programs and strategies aimed at fostering economic growth, job creation, and overall prosperity within the Commonwealth....