The participants had been selected by UNESCO and its partner, the Institute of Electrical and Electronics Engineers (IEEE), from more than 500 applicants for the quality and viability of their innovative ideas for making the transition from the laboratory to the marketplace. One criterion for selection was the ‘green’ credentials of their business idea.
Tips on how to build one’s entrepreneurial acumen
The workshop's core purpose was to give the trainees insights into how to turn their inventions into a market-ready product. Guest speakers from organizations such as the UN Global Compact and SENACYT ran sessions on topics such as how to assess opportunity, technology transfer, patenting, and the complexities of start-up finance.
Surya Raghu spoke about how to assess opportunity. A mechanical engineer with a PhD from Yale University in the USA, he founded his own company, Advanced Fluidics, in 2001 and holds 14 patents. He explained the importance of anticipating future trends in innovation, such as by developing technology road maps, mind maps, intersect maps and horizon scanning. Horizon scanning needed to take into account societal and economic factors, he said, as well as technological advances, regulations and disruptive market models.
Looking back could also inform future trends. In the 1960s, the top 20 inventions had been in electrical and electronic engineering and in computer science and telecommunications in equal measure, he said. The top inventions of the 1980s, however, had been dominated by pharmaceutical drugs and medical products. By the first decade of the 21st century, all 20 top inventions had been in the fields of computer science and telecommunications. He made the point that modern information and communication technologies had shrunk the amount of time it took for products to gain 50 million users.
The point was made that the Sustainable Development Goals offered a great opportunity for innovation. Alexander Leicht, Director of UNESCO’s San José Office, recalled the analysis in the UNESCO Science Report (2021), which had found a rise in sustainability science and in national policies emphasizing social innovation in Latin America and the Caribbean. This suggested a growing demand for home-grown sustainable solutions, he said, which was good news for local innovative companies.
In his presentation, Dr Victor Sánchez Urrutia from the Universidad Tecnológica de Panamá made the point that ‘the fragmentation of production and the consequent modification of value chains have created opportunities to innovate in key components and systems. It is not necessary to innovate in the entire product to achieve the greatest gains’, he said. The components of many products are now designed and manufactured in different countries before being assembled, such as semiconductor chips.
Attorney Nicole Bianeth Pérez from CLD Legal in Panama explained the difference between patents, trade secrets and trademarks. She explained, for instance, that patents were granted for a period of 20 years without the possibility of extension and that an innovative company could obtain rights in other countries via the Patent Cooperation Treaty and regional registration systems like the European Patent Office.
Seven ideas shortlisted
After intense discussions and feedback sessions, seven ideas were shortlisted that not only showcased innovative thinking but also held the promise of real-world applicability and scalability.
In the days to come, the 35 participants would form teams to develop the seven validated ideas. These ideas would then undergo further refinement and mentoring to prepare for the final pitch to the panel of four judges made up of mentors and industry experts. Their role was not solely to judge but also to guide, mentor and refine these raw ideas into feasible, market-ready solutions.
It was the D3Bio team which came up with the winning pitch. Its idea was to use banana plant biomass to produce bioplastics for different purposes, including three-dimensional (3D) printing material. Today, 3D printers can print everything from footwear and automotive parts to medical implants and dental products, but the material used is often plastic. The D3Bio team’s solution would not only be sustainable but also ensure that agricultural waste could be transformed into a valuable commodity.
Another of the seven teams called itself Agriobiolac. It developed an idea for a biofungicide to combat various plant diseases without the harmful environmental side effects of traditional chemicals.
The Astrobiotics team likewise based its solution on natural products. Its ‘pharmacy’ was composed of a line of probiotics to improve digestive health. This venture tapped into age-old traditional knowledge, modern microbiology, and biotechnology.
Health was also the focus of SMART Hand. Conscious that prosthetics tend to come with a hefty price tag, despite their ability to transform peoples’ lives, the team leveraged cutting-edge design and manufacturing techniques to propose a low-cost prosthetic hand that would not compromise on functionality.
The other three teams also pitched digital solutions. The NAITURE team planned to use artificial intelligence to enhance customer service in the retail sector. By predicting the behaviour of consumers to offer personalized recommendations and automate mundane tasks, the aim of this algorithm would be to make shopping more intuitive and customer-centric.
For its part, WeatheRED developed a predictive weather analytics algorithm to help businesses anticipate weather-induced disruptions.
E-Steam chose to reimagine education. By offering customizable modules, interactive content and real-time feedback, this platform would bridge the gap between traditional classroom instruction and the digital learning realm.
The Panama workshop was the second in a series developed by UNESCO. The first bootcamp took place in Cairo, Egypt, in early 2023 for 71 early-career entrepreneurs from ten African countries who all specialized in nanotechnology.
