**1. Introduction**

Although Latin America can be considered the second world emerging region after Asia, its growth and gap reduction with respect to the first world is still uncertain. By 2022, GDP per capita reached an average rate of US\$ 7950.00 [1], much lower than more industrialized countries. In the last ten years, it has yet to show significant growth. Still, even in cases of regional representative countries such as Brazil and Argentina, there is a certain tendency to a reduction that is worrying in general terms. This condition differs from other countries with industrialized economies or even emerging Asian economies, which are showing signs of sustained growth (**Figure 1**).

Latin America is marked by what different authors have historically called technological dependency [2], that is, a vocation for technology transfer [3] or the importation of technological services [4]. This dependency reinforces in the region its original vocation as a supplier of raw materials. In fact, its export economy has an industrial and productive composition based on the extraction of natural resources, mainly in the mining and oil, manufacturing, and agricultural sectors.

#### **Figure 1.**

*Historical comparison of GDP per capita. Source: Adapted from [1].*

Although governments have been focused on developing policies for industrial promotion, innovation, and productive diversification in recent years, the growth results are still not clearly visible. The latter can be visualized with the economic complexity index (ECI). This index measures an economy or product's relative knowledge intensity [5].

As shown in **Figure 2**, some Latin American economies show difficulties in diversifying their productive and export capacity, even with negative trends. On the other hand, notable differences can be seen between some countries, such as Peru, which still shows a significant gap even concerning other Latin American countries, for having a low level of sophistication of its exportable products [7].

On the other hand, like all countries, Latin America experiences the impact of global events and faces significant modern challenges. The COVID-19 pandemic raised poverty levels. On the other hand, there are challenges related to climate change, deforestation, social inequality, the migratory crisis, and growing violence [8]. All this adds

*Challenges for the Promotion of Innovation and R&D in Latin America: A Territorial Perspective DOI: http://dx.doi.org/10.5772/intechopen.112289*

to a historical stigma of corruption and political instability [9], reducing confidence and the possibility of long-term policies (**Box 1**).

Boubarkri, in his article "Does national culture affect corporate innovation"? based on an analysis of a comprehensive innovation database around the world, concludes that the probability that a company innovates is greater in individualistic, indulgent, and long-term-oriented societies [10]. Sagasti, in his book "Science, Technology and Innovation: Policies for Latin America" [11], quoted the prominent Latin American thinker Jorge Sábato with this quote: "It takes fifteen years to create a world-class research institution, but only two years to destroy it". Sagasti, compared efforts in Latin America to promote innovation to the tragic fate of Sisyphus, the mythical and cunning king of Corinth who tricked the gods more than once and was punished by rolling a boulder up a mountain, only to have it to the top it would roll down and have to start again, eternally over and over. According to this author, Latin America is an example of Sisyphus since after having designed and implemented policies with considerable effort (such as investment in science and technology, institutionbuilding, and training scientists and engineers,) "has only seen them disappear almost without a trace".

#### **Box 1.**

*Political instability in Latin America and its impact on the promotion of innovation.*

Despite this, Latin American countries have actively sought new and better ways to promote industrial and technological development [11]. In recent years, interest has been focused on promoting science, technology, and innovation as a development strategy. Different types of initiatives are implemented with their own nuances and particularities in each country and region.
