The Fundación Cotec para la Innovación works to promote innovation as a driver of economic and social development. That said, innovation in the broadest sense is as any change (not just technological), based on knowledge (not only scientific), that adds value (not solely economic). To achieve this goal, Cotec is developing a wide variety of projects both independently and in collaboration with several organisations.

In addition, all Cotec projects share three characteristics:

• Alignment with its mission to transform society through innovation.
• A specific objective to achieve within a finite execution period.
• A communication strategy that practices what it preaches and underlines the immense value of innovation as a response to the challenges of our time.

In this interview, Jorge Barrero, general manager of the Foundation, talks about the challenges of being a leader in innovation in today's society.

What challenges does a foundation like yours face?

We have been overcoming successive international crises for three decades, such as the 2008 financial crisis, the pandemic in 2020, and the consequences of the Russian invasion of Ukraine. Each has been an accelerator of the major historical transitions of our time:

• Changes in the flow of information, from analogue to digital.
• Changes in the flow of materials and energy, from linear to circular.
• Changes that alter investment flows, from tangible to intangible.

Understanding and promoting these three transitions is a priority for Cotec, which also works to mitigate their negative impacts and ensure that the positive impacts benefit the majority of the population in the shortest time possible.

What are the main areas in which Spain needs to evolve to become a leader in innovation?

Spain is in a good economic moment, but I fear we are not fully taking advantage of it. The figures are good; the economy is growing at nearly 3%, the unemployment rate is at its lowest level since 2008, and we have had nine consecutive years of increasing investment in R&D.

Nonetheless, it is also true that investment in relation to GDP is not growing because the increased wealth has not been matched by greater investment in knowledge, which is mainly supported by the receipt of European funds with a limited duration. As a result, if we don’t want to miss the train of economic and social development, it is essential to invest more in knowledge.

How do you promote this innovation in companies and institutions at COTEC?

Cotec's aim is to promote innovation as a driver of economic and social development, and we do this from three approaches.

The first is knowledge generation. We analyse interesting phenomena in which innovation has a relevant role. These studies aim to assist companies and institutions with decision-making.

Secondly, we promote collaboration among different actors in the innovation system, particularly public-private collaboration. We are highly focused on creating opportunities for conversation and debate, for which we organise events, create working groups, and drive bilateral projects throughout the year.

Thirdly, and perhaps most significantly, we take part in the cultural change that is occurring in the perception of innovation—not just as a technological endeavour carried out by companies, but as a cross-cutting concept that can be applied to any sector or area. To this end, we support initiatives that encourage creativity and experimentation, in companies and public institutions alike.

How would you rate the role of companies like Elewit in the innovation ecosystem?

Redeia plays a significant role in the innovation ecosystem and is an example of a company that addresses the three major transitions of our time: the digital, the circular, and the intangible. We have closely followed Elewit since its inception because it is a very unique model for managing the innovation assets of a large company.