From Infobae · · 1m 20s
Cuba's New Tech Law Opens Private Sector Under State Limits
Cuba's new science and tech law allows private firms to join state projects amid economic crisis.
In brief
Cuba's new science and tech law allows private firms to join state projects amid economic crisis. Cuba's government introduced a law enabling private companies to collaborate with state entities in science and tech amid economic hardship. Originally reported by Infobae.
Cuba's New Science Law
Cuba published its first law reorganizing the scientific system and allowing private-public partnerships.
Law Takes Effect in 60 Days
The law, which enters force within 60 days per the Official Gazette, launches during Cuba's economic and humanitarian crisis.
Private Sector Included
The law formally recognizes private companies, agricultural cooperatives, and self-employed workers as scientific and technological actors.
Funding Mechanisms
The law establishes risk financing and seed capital mechanisms to support technological innovation projects.
Patent-Based Companies
The law permits companies based on patents and trademarks to channel external investment into scientific and technological activities.
Contracts for Tech Transfer
The law allows state-private contracts for royalties and payments from tech package commercialization.
Daimar Cánovas Statement
Daimar Cánovas, the science and technology vice minister, stated increased innovation across economic actors could accelerate national development.
16,000 Private Companies
Over 16,000 private companies operate in Cuba according to official data cited by EFE.
Ministry Integration
The Ministry of Science, Technology and Environment will merge with the Ministry of Higher Education within six months.
The bottom line
Cuba's government introduced a law enabling private companies to collaborate with state entities in science and tech amid economic hardship.
