Gov. Jenniffer González Colón introduced on Tuesday the allocation of $9.5 million to the Puerto Rico Science, Technology and Research Trust to finance analysis tasks, strengthen know-how switch, and develop progressive entrepreneurship initiatives.
“Puerto Rico is competing today in an economy where true value comes from the ability to generate knowledge, innovate, and transform ideas into real opportunities,” the governor mentioned in a written assertion.
“This $9.5 million allocation is a strategic decision that corrects a historical gap and positions Puerto Rico to participate in the knowledge economy that is being built globally,” she added.
González Colón famous that the funding will enable for the funding of 46 direct scientific analysis grants, in distinction to the 13 tasks supported within the final fiscal 12 months, as well as to strengthening mental property safety and the creation of recent innovation-based corporations.
Economic Development and Commerce Secretary Sebastián Negrón Reichard mentioned the allocation is conceived as an financial coverage software to drive sustainable development by analysis, know-how and entrepreneurship.
“Economies that manage to sustain long-term growth are those that deliberately invest in research, technology, and innovative entrepreneurship,” he mentioned.
The official added that the funds will probably be tied to particular efficiency indicators, which embrace tasks funded, federal funds leveraged, applied sciences licensed, corporations created or scaled, and jobs generated in Puerto Rico.
Lucy Crespo, CEO of the belief, famous that the allocation reaffirms the federal government’s confidence in science and know-how as drivers of financial growth.