In recent years, the Stevens Institute of Technology has made inroads globally, starting programs, conducting research, or training teachers in places such as Beijing, China; Punta Cana, Dominican Republic; Saudi Arabia; Northern Ireland; Lima, Peru; and Guayaquil, Ecuador.
One region the private research and technology university is specifically focusing on is Latin America, particularly Costa Rica.
Wednesday afternoon, Stevens’ President Dr. Harold Raveche discussed the steps taken to establish a technology incubator program in Costa Rica that mirrors the Technogeneis program the university now offers.
In March, Raveche is scheduled to host a workshop that will bring together officials from the Costa Rican government and industry, and scholars from the country’s major research universities to set the framework for a program that will hopefully create sustainable high-tech companies that can contribute to the country’s future economy.
One of the partners in the workshop is the Omar Dengo Foundation, which is a private, non-profit organization created in 1987 to promote the economic, social, and human development of Costa Rica. The foundation is a pioneer in bringing computer technologies, innovative educational programs and new learning environments into the school system.
Also participating will be the National Center of High Technology, an organization that contributes to the county’s economic development, solving the industry’s competitiveness requirements by providing advantages through innovation, development, and training.
Raveche said one of the biggest challenges of developing countries and economies is the creation of a sustainable technology base. There is often foreign investment, he said, but little of that money is reinvested in capital or education.
“They may have the dollars, but they don’t have the know-how,” said Raveche.
He added technology needs to be assimilated to serve as a basis for innovation. Instead of merely transferring technology, there have to policies in place to build technological capacity. That is where a program like Technogeneis can be effective, he said.
Raveche explained that Technogenesis is a program where students, teachers, and the leaders in industry jointly nurture the conception, designing, and marketplace realization of new technologies. “Governments have been coming to us,” said Raveche. “They see obvious benefits of starting [a program] that produces a viable company. They really like the idea that the program can be self-sustainable.”
Raveche said a program like Technogenesis is more attractive than an esoteric research project that may not have any practical use. “
According to Raveche, at the workshop the participants will discuss basic issues such as how to attract venture capital, legal issues such as how to establish international patents, and define the role research universities will play in the program.
With the framework in place in the next year or so, the program will start, companies will be formed, and innovative products will be created.
Hudson County and the tri-state area have one of most vibrant Latino populations in America. Raveche said establishing a technology incubator creates an excellent avenue for affluent Latinos to reinvest venture into Latin America.