The Costa Rica News (TCRN) – President Laura Chinchilla has signed a bill to allocate $35 million (17 billion colones) to promote competitiveness, productivity and innovation in the technology field.

The bill seeks to support and develop innovation, human capital and competitiveness. The money will be awarded to 500 people.

The Minister of Science and Technology, Alejandro Cruz, said the National Council of Scientific and Technological Research (Conicit) and the Foreign Trade (Procomer) will be responsible for the grants to be distributed, after a proper assessment.

Cruz stressed the importance of investment in the Scientific and Technological Activities (ACT), which amounted to $890 million in 2012.

Of the funds, $10.4 million will be used to develop business skills, support and encourage projects that are innovative and technology-based.

The other $23.5 million will be used to provide scholarships.

The Costa Rica News (TCRN)

San Jose, Costa Rica