InnovaInvest Copernicus Edition, the hub of revolutionary ideas and innovative solutions, began in Panama City. This event brings together entrepreneurs, visionaries, and investors, offering invaluable opportunities to strengthen the innovation ecosystem in Latin America and the Caribbean.
The inauguration featured Isabella Matheus, head of the European Union Delegation in Panama; Alberto De Ycaza, Director of Business Innovation at the National Secretariat of Science, Technology, and Innovation (SENACYT); and Paola Arellano, Board Member of RedCLARA and Executive Director of the national network in Chile, REUNA. These leaders highlighted the importance of international collaboration to drive innovation and entrepreneurship in the region, emphasizing initiatives like the BELLA II project in bridging the digital divide.
Matheus spoke about the EU-LAC Digital Alliance, noting that InnovaInvest addresses three of its four focal areas: cooperation in infrastructure and connectivity, Earth observation, and fostering entrepreneurship and the use of digital technologies. “The European Union is proud of the Copernicus program, which provides free access to data from Sentinel observation satellites, delivering crucial information for sustainable resource management, disaster mitigation, and informed decision-making on issues like climate change and food security,” she stated.
Alberto De Ycaza emphasized that the event “drives innovation and entrepreneurship, linking funding opportunities with proposals that enhance the use of scientific information, such as data from the Copernicus program.” Arellano added that the event “not only celebrates ideas but also catalyzes action, connecting proposals and resources to transform the region.” She underscored the goal of the BELLA II project to strengthen the digital ecosystem by enabling relationships and exchanges between businesses, research centers, and educational institutions aligned with strategic objectives in education, science, and technology in LAC and Europe.
Conferences on the innovation process, the BELLA II project, the Copernicus program, and funding for entrepreneurship and development projects took place after the official opening. Esteban Meneses from Costa Rica's National Center for High Technology (CENAT) discussed the potential of human talent in Latin America and collaboration with European countries in supercomputing. Óscar Vega, Manager at ESRI Panama, shared his company's experience in empowering organizations through geolocation, enhancing efficiency in decision-making, and sustainable planning.
During the conferences, Rodolfo Javier from the Development Bank of Latin America and the Caribbean (CAF) highlighted the institution's financing process and investment portfolio, which includes innovative and smart capital for entrepreneurs. “With its focus on green development and inclusive sustainable growth, aligned with the SDGs, CAF aims to enable innovative projects through investments in infrastructure, the green economy, and climate change,” he stated.
Mayra Roa, a mentor and influencer for entrepreneurs, highlighted that a startup achieves robustness through various phases: demonstrating project value, experimenting, seeking stability, and finally scaling. “Every startup must cross the valley of death; it’s part of the process and the only way to stabilize a project,” she assured.
Regional initiatives
At the end of the event, innovative initiatives generated from the Copernicus Ideathon and Hackathon held in 2023 were presented to a panel of investors, allowing them to pitch their proposals and answer questions.
CATHALAC Panama introduced "Cosechas 4.0," a web platform for family farming that measures humidity levels. This initiative aims to help farmers combat annual losses caused by climate change, which have disrupted planting seasons. Cosechas 4.0 will operate offline, enabling farmers to anticipate what, when, and where to plant, empowering them to make informed decisions. They are currently seeking funding to establish experimental plots. According to the UN Food and Agriculture Organization (FAO), 80% of food comes from family farms, highlighting the importance of this innovation for enhancing agricultural resilience in the region.
Argentina presented "SPI—Fire Prevention System: Face the Fire, Protect the Future," seeking funding for technological and human resources. This project focuses on mitigating the impact of climate change and the projected increase in wildfires, which could rise by 50% by 2100. Using an artificial intelligence model, the system monitors climatic variables and historical data to predict future fires. They plan to scale the solution regionally, starting with a mobile app and later offering a service to agricultural insurers to adjust policies based on risk while also supporting governments in protecting natural reserves.
The final group, winners of the 2023 Hackathon, represented the Humboldt Institute and WCS Colombia with an innovative project aimed at providing climatic, behavioral, and ecosystem information to improve the adaptability of vicuñas. The lack of precise data has limited the capacity of farmers, especially in the Bolivian highlands, who rely on vicuña wool shearing. This project aims to fund the acquisition of specialized human resources.
These initiatives gained access to specialized training programs, advanced financing platform tools, and opportunities to participate in boot camps focused on developing their projects.
The event continues with a guided tour of two innovation spaces in Panama working with data from the Copernicus program: ESRI and CATHALAC.
InnovaInvest Copernicus Edition serves as a crucial platform for development and innovation, opening new opportunities for sustainable growth in the region.
You can watch the event here: https://www.youtube.com/watch?v=pS8Yv-1jHfs
