The IDB gave a new boost to Paraguay’s productive development after approving financing of 10 million dollars aimed at enhancing business innovation and the training of technological talent in the country. The initiative is channeled through the Business Innovation Program II, which will be implemented by the National Council of Science and Technology and aims to strengthen the competitiveness of companies and entrepreneurs in strategic sectors of the Paraguayan economy.
The program aims to support technological development projects, promote the incorporation of specialists in innovation management within companies, and consolidate technology service centers, in addition to providing resources so that startups and young companies can validate solutions, prototypes, and business models. Complementarily, it will promote the training of more than 600 private sector professionals in key areas such as innovation, technology transfer, intellectual property, and green innovation, along with strengthening the capacities of about 500 public officials to improve policies supporting the innovation ecosystem.
This new operation aligns with the national priorities of productivity, economic diversification, and sustainable development, as well as with the IDB Group’s strategy with Paraguay for the 2025-2029 period. The financing includes long-term conditions aimed at ensuring the sustained impact of the investment and consolidating a more dynamic environment for innovation and technological talent in the country.