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Wednesday, May 16, 2012

Latin America must invest more in innovation to enhance its economy

Investing more in research and development to promote innovation, increasing the value of their economies and stop being markets for cheap labor and low technology must be done. This could not only enhance Latin America's economy but the economy of the whole American continent (North, Central, and South).

Thanks to revenues from copper and those who have pledged to increase its spending on research and development, Chile has become one of the countries taking the lead in this subject.

Brazil, Peru, and Colombia are following a similar trend. The governments of these countries seem to be understanding the powerful value of the innovation factor in globalized economies and developing "economic strategies based in the raise of added value".

Mexico, where "the rate of investment (in research and development) is still too low compared to the size of the economy", is one of the exceptions.

The dynamics in Latin America, however, are slow compared to other developing regions such as Asia, where changes related to innovation "happen faster". The reason for this difference in attitude has to do probably with "a different economic strategy".

In relation to global trends in intellectual property, the interest aroused by the patents in large corporations in sectors like information technology and communications seem to be a big deal. In this regard, the announcement this week that the Facebook social network bought patent rights to Microsoft in a deal valued at $550 million "emphasizes the value of the component of knowledge production and knowledge of law". Market dynamics like these, make clear that "the intangible gaining in value in the economy" and that patents are increasingly used by companies to position themselves competitively in their business areas.

In TSO Mobile our philosophy is change, innovation, research and technological development applied to security, GPS tracking and monitoring management. TSO Mobile is expanding to Latin American countries at a very good pace. We currently have direct offices in Colombia, Venezuela, Peru, and Mexico. TSO Mobile's input to technology and innovation to enhance Latin American economy is huge. Best of all, the whole American continent (North, Central, South) is being benefitted from this expansion.

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