Identificación de instrumentos de financiación para promover la inversión en Actividades de Ciencia, Tecnología e Innovación (ACTI)

Abstract

The objective of this research is to summarize, assess, compare and build a recommended action guide for the design and implementation of alternative financing instruments to promote investment in Science, Technology and Innovation Activities (ACTI) in Colombia, in accordance with what proposed in the National Development Plan (PND) 2018-2022. Based on a meticulous analysis, three alternatives were selected that proved to have solid bases to be applied in the Colombian context: Public-Private Partnerships (PPP), Tax Works (OxI) and Impact Bonds (BdI). In terms of political articulation, the three instruments mentioned above are in line with the PND and other levels of planning and public policy. At the same time, current national regulations allow the design and implementation of all three. Specifically, PPPs turn out to be the most viable instrument given their advanced state of regulation, although the law closes alliances for public service infrastructure projects. There are limitations regarding the minimum amounts for its implementation. On the other hand, there are currently entities that can administratively manage related regulatory needs. OxIs can be implemented in the country if ACTIs are included in the project banks of the National Agency for Territory Renewal (ART). BoIs are very recent instruments, but they have high potential to complement previous instruments and attract philanthropic capital. To implement APP in STI, it is recommended to apply it in agribusiness for the creation of new cultivation, grazing and land use techniques. It is also useful for creating laboratories focused on medical, biomedical and pharmaceutical research. It is important to accompany the Higher Education Institutions -IES in each alliance as a complement to the government and the private sector, as well as stipulating the amount, term and method of obtaining income for the private sector. It is recommended to enact changes in the law to eliminate the limits of applicability and minimum amounts. To implement the OxI in Colombia, it is imperative the articulation between the DNP and MinCiencias to prioritize projects in ACTI before the ART, technical assistance to the territories is important to create well-structured projects that are attractive to companies. Finally, present the OxIs as an opportunity to position themselves for the social work it represents and not as a disadvantage for the flow of money from the companies, to guarantee their effective participation. The BdI has applicability in scientific research in which knowledge can be privatized, the hiring and retention of research personnel and the construction of knowledge networks. Although the regulations allow the implementation of the BdI, it is recommended to make changes in the contracting regime and future validities to avoid inconveniences with intermediaries.