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Science Trust opens call for tech innovation proposals with local, int’l impact

The Puerto Rico Science, Technology and Research Trust — along with Spain’s Center for the Development of Industrial Technology Spain (CDTI, in Spanish) and the Department of Economic Development and Commerce (DDEC, in Spanish) — recently held an informative session to offer guidance to entities in Puerto Rico and Spain on funding opportunities for technological and innovative projects that are of mutual benefit. 

This joint call initiates the call for eligible entities to submit their applications through Sept. 16, 2022.

“We’re very excited to open doors of collaboration for Research and Development (R&D) between Puerto Rico and Spain, thus advancing the technological innovation agenda of the Trust and the DDEC,” said Andreica Maldonado, director of the Science Trust’s Research Grants program.

“The funding match will allow for up to four projects per year with grants of $75,000 per project. We hope that these new collaborative agreements between Spanish and Puerto Rican companies will give rise to projects with commercial potential to continue strengthening the country’s economy,” she said.

Proposals should primarily target the sectors of biotechnology, ICT, aerospace, health, environment, clean technologies and/or renewable energy and agriculture. However, other sectors may be considered if the project is innovative, organizers said.

“This is an unparalleled opportunity for more scientists and developers to raise funding for their technology innovation projects with scalable potential,” Science Trust CEO Lucy Crespo said.

Participants in the selected projects will be eligible to receive funding from the CDTI in Spain or from the Science Trust and the DDEC in Puerto Rico.

In the case of Puerto Rico, local entities will have access to a $300,000 fund, half of which is being matched by the DDEC.

“One of the fundamental principles of the 21st century economy is research and development, and this goes hand in hand with technology and innovation. With this Collaboration Agreement, together with the Science Trust and the CDTI of Spain, we reiterate our commitment to those principles that will make us compete in the knowledge economy of the 21st century,” said DDEC Secretary Manuel Cidre.

“In addition, we seek to directly promote local projects of global scope that are necessary, not only to boost economic development, but also to contribute to food sustainability with innovative methods and to the protection of the planet with renewable energy sources. We urge all interested parties to submit their proposals as soon as possible,” he said.

In Spain, the financing of these projects will be carried out through CDTI applying the conditions and procedures of the International Technological Cooperation Projects with unilateral certification and follow-up, through credits that have a coverage of up to 75% of the total approved budget.

“CDTI, the Innovation Agency in Spain, considers internationalization and technological collaboration as fundamental elements in its financing initiatives,” said Juan Antonio Serrano and José Javier Romero Ruiz, both representatives of the Spanish Innovation Agency.

“In a special way, with [territories] like Puerto Rico, and with our partners in the Trust, who understand innovation in a similar way to ours, an open way. From CDTI we welcome and applaud initiatives such as this joint call, which only seek to pave the way and facilitate the necessary partnerships,” he said.

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This story was written by our staff based on a press release.

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