Panamá Hub Digital
January 2018
Strategies and Action Plans
The Panamá Hub Digital strategy aims to position Panama as a leading regional hub for Information and Communication Technology (ICT) innovation by 2025. This plan builds upon the foundational efforts of the 2008-2018 strategy and leverages updated insights to address changes in the local and global ICT landscape. It emphasises innovation, export capability, and sustainable institutional frameworks to drive long-term growth.
The strategy is structured around four fundamental pillars:
- Human talent: Developing a highly skilled workforce through education, international partnerships, and retention of highly qualified professionals, such as those with advanced degrees.
- Physical and social infrastructure: Establishing robust infrastructure, including state-of-the-art research facilities, strengthened academic institutions, and platforms for industry-academia collaboration.
- Legal and regulatory frameworks: Modernising laws to encourage innovation, safeguard intellectual property, and streamline processes for digital and e-commerce services.
- Financial resources: Creating a supportive financial ecosystem through mechanisms like venture capital funds and angel investor networks to fuel ICT-driven projects.
This strategy is designed to advance Panama’s position as a regional innovation leader. It aims to foster a thriving ICT ecosystem that can generate new products and services for international markets. Establishing cornerstone institutions and programs is emphasised to ensure sustainability beyond the initial implementation phases. These include forming a research institute (Indicatic) and creating a university cluster for ICT research and development.
Key phases and actions
Phase 1: Building foundations (2016-2020)
- Cluster Facilitation Group (CFG): A reactivation of this group is critical to coordinate and support strategy implementation. CFG will oversee key activities and provide governance.
- Infrastructure development: Establish foundational facilities, including a dedicated research lab (Indicatic) and a robust university cluster. These institutions will drive research and foster collaboration between academia and industry.
- Legal reforms: Introduce critical regulatory changes, such as frameworks for digital signatures, electronic billing, and e-commerce.
- Funding mechanisms: Secure financial resources for the strategy through a mix of public and private investments, ensuring stable support for innovation and research.
Phase 2: Scaling innovation (2021-2026)
- Investment growth: Expand venture capital and angel investor funding for ICT initiatives, prioritising startups and collaborative research projects.
- Regulatory updates: Enhance policies that attract international technology investments, creating a favourable environment for high-tech companies.
- Talent initiatives: Promote Panama globally as an attractive destination for skilled professionals while ensuring strong incentives for retaining domestic talent.
The strategy includes bold initiatives aimed at fostering competitiveness and addressing societal challenges. Anchor clients, for instance, involve collaboration with large corporations to enhance the capabilities of local ICT providers. Social challenges are tackled through government-backed innovation grants, encouraging the ICT sector to propose impactful solutions for community issues. Export promotion is another critical initiative, aiming to boost Panama’s global presence in ICT services and products through targeted campaigns and partnerships.
A detailed monitoring framework ensures accountability and progress tracking. Metrics include the number of PhD-level researchers employed, ICT export revenue growth, the successful establishment of new regulatory frameworks, and the number of innovative solutions deployed for social and economic challenges.
The strategy acknowledges potential risks such as political instability, funding limitations, and talent retention issues. To address these, it emphasises fostering collaboration among government entities, academia, and the private sector. This cooperative approach is designed to mitigate risks and ensure the sustainability of efforts, even during administrative transitions.