Innovation

Investment in research and development (R&D) and innovation has been increasing in recent years in Peru, partly as a result of a greater government commitment to science, technology and innovation issues. Spending on science and technology R&D increased by 93.6% between 2011 and 2014. This investment seems to be paying off in terms of institutional development, sector incentives and increased funding, as well as an overall improved standing in global rankings in innovation and innovation-related issues. However, there is still much to accomplish as Peru continues to lag behind regional benchmarks in many respects, with improvements still needed in key areas such as availability and access to funding, limited public policies and instruments, inadequate infrastructure, insufficient human capital and intellectual property protection.

This chapter contains interviews with Gonzalo Villarán, Director of Innovation, Ministry of Production, and Karl Maslo, Regional CEO, EXSA.