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Strategy for Innovation and Development in Latin America

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Published: Wed, 20 Sep 2017

Fernando Vela
 
ABSTRACT

Latin America has grades development opportunities due to its great natural wealth. The universities are a fundamental part of this development because they are encouraging their students to develop their capacity for innovation. The universities are creating a series of programs to help the innovation and development of Latin America. These programs are based on the relationships that exist between different universities, so they can share ideas and innovation and development projects. It is also based on reference the model for the University Social Responsibility in explaining the 4 key points for the development and the innovation. This will help improve the economy in Latin America.

INTRODUCTION

Mark Twain says: A man with a new idea is a crazy until the idea triumphs. Latin America is a characterized as one of the regions of the world with greater opportunities for growth and development. Latin America has opportunities for growth and the universities are the key to this growth. Those countries that it makes up are rich in resources natural and talented human. However, in its population there are great contrasts in the distribution of wealth. For this reason, there is still poverty in Latin America.  Countries that make up Latin America have sufficient natural riches and to face the future with optimism.

Universities are a key part of the momentum of the entrepreneurial activity in Latin America. It is a source of knowledge for their students and the society, has a positive influence in these. One of the ways in which universities have extended their contributions in the field of entrepreneurship, is through the creation of networks taking into account the model for the university social responsibility.

In Latin America the majority of universities seek to give students an education with innovative skills. For this reason, the students develop their creative capacities and seek solutions to problems that exist in Latin America. This is the only way in which students can help the development and entrepreneurship in Latin America, because it began to create new sources of employment and help that every country that makes up Latin America continue proceeding.

Countries of Latin America with higher and lower index of innovation

In Latin America there are countries that have an index very high of developments in the last time. It is the case of Colombia and Chile. In the past few years, Chile has been growing in the topic of innovation, ecosystems and mainly in the undertaking. Start-Up Chile was the beginning of a revolution in this area, since developed a great program that was not limited to the local. But this does not stop there, until in the south, in their universities, is planning to develop and enhance dynamic entrepreneurship (Andrade, 2015)

Colombia ranks fourth in the list of countries with the highest number of innovative entrepreneurship in initial phase, behind Chile. Colombia has conditions such as a high activity of enterprises in the early phase, a significant percentage of innovation and ambition of growth of young companies. Colombia shows a high rate of entrepreneurship and a large proportion of them are innovative and with the ambition to grow. A large number of entrepreneurs is introducing products or services in the Colombian market, which before were not available and that is good. (Kelley, 2015)

According to Kelley, both in Chile and Colombia, the only Latin American countries included on the list, “people can see entrepreneurship as a way to provide an income when there is not better alternative to the employment.”

Venezuela suffers an economic crisis due to the low cost of petroleum. This country depended only of oil and for that reason the Venezuelan people is concerned. The development and innovation in this country is the lowest according to a study carried out. This study indicates that due to the crisis that confronts Venezuela companies are deterred from investing in Venezuela. (Pardo, 2014)

Universities in Latin America propose a momentum for innovation

From a point of view of research, universities such as the Autonomous of Nuevo Leon University conducted several studies that enhance the entrepreneurship and innovation; highlights the study of them different types of strategies of collaboration or bonding and its contribution to the amount of development of projects of research and development technological for improve it management and efficiency in the generation of projects of research and development technological and innovation in organizations.

In the case of the Catholic of Uruguay University, there was a strong work for developing entrepreneurship and innovation through education by competences, where through their actions seeks to develop the entrepreneurial spirit of its students support to entrepreneurship of students and graduates to investigate the profile of the Entrepreneur.

The Popular autonomous of the State of Puebla University is an institution that also has with a program to promote the entrepreneurship which is plans to from the constructivism and the connectivism, and has as strategy didactic perform projects training and solve problems, form character, develops the auto learning, gives tools of management, is flexible, links to the student until where it decides to, creates environments, networks of collaboration and partnerships.

Highlights also the technological of Monterrey, institution that from makes more than thirty years has designed various strategies to foster the culture entrepreneurial through it innovation and the generation of value. This institution has an Institute that aims to ensure that all students develop and strengthen their entrepreneurial spirit, which has worked hard in implementing the following strategies: develop attitudes and entrepreneurial skills; study and propose to advance the State of the art in the field of entrepreneurship; facilitate the creation and development of enterprises for students with interest; positioning and communication; and partnerships and collaboration (Toledo, 2014)

Reference the model for the University Social Responsibility

  • Organization. Where it is analyzed as the business school incorporates between its management the themes of innovation and entrepreneurship, teaching with example.
  • Education. Where are reviewed and analyzed the way in which each business school uses techniques and tools and approaches for the formation of the competencies of their students in these topics.
  • Research. In where is identify the areas priority of study and research relevant that impact to your region or community and their forms of disclosure
  • Participation. Where it seeks to have practical results with an impact on the surrounding communities so that in a collaborative effort students and researchers applied in real situations their knowledge and experience, leaving testimony in companies and agencies in the region of successful projects. (Toledo, 2014)

CONCLUSION

The lack of innovation hinders the creation of jobs. The economic situation in Latin America is such that firms tend to start small and remain small. In the last ten years, Latin America has benefited enormously from the favorable winds of the global economy, enabling you to reduce extreme poverty, improve the equality and catapult to 50 million people to the middle class. However, as these favorable winds are diluted, growth will have to come from within, and the innovation and dynamism will be key for the region can take advantage of the social progress of recent years.

Employees in Latin America works for companies many times considered as an engine of development, the entrepreneurial spirit generates jobs and spurs economic growth. While the creation of enterprises in the region is high, companies that survive grow at a much lower rate than their counterparts in other regions. Latin America has a wealth that is not developed by the lack of innovation and entrepreneurship. For this universities are generating more development in Latin America with their innovation projects.

References

Andrade, M. (2015, JUNIO 1). LA TERCERA . Retrieved from LA TERCERA: http://www.latercera.com/noticia/chile-es-lider-en-america-latina-en-materia-de-emprendimiento/

Kelley, D. (2015, enero 21). Ejecutiva. Retrieved from Ejecutiva: http://mba.americaeconomia.com/articulos/notas/colombia-ocupa-el-cuarto-puesto-en-listado-de-paises-con-mayor-numero-de

Pardo, D. (2014, NOVIEMBRE 18). BBC WORLD. Retrieved from BBC MUNDO : http://www.bbc.com/mundo/noticias/2014/11/141117_venezuela_precio_petroleo_dp

Toledo, L. A. (2014). Innovation and entrepreneurship in the light of the Latin American context . LIMA: CLADEA.


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