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FACT SHEET

Name: Puerto Rico Science, Technology and Research Trust.

Year Established: Law Num. 214 of August 18, 2004.

Structure and Capitalization: The Trust in an autonomous entity, and its seed funding comes from the Commonwealth’s Special Funds Account for Economical Development, the Scientific Research Fund of the University of Puerto Rico Centennial, and non-recurrent seed money from PR Capital Improvements. Once these funds are disbursed, they will be under the custody of the Government Development Bank for Puerto Rico.

 

The Trust’s enabling act establishes how these funds will be distributed:
• Between 30% and 40% of the annual budget will be used to finance corporate activities and projects that will impact science and technology research and development in Puerto Rico.

• Between 30% and 40% will be invested in academic projects (to match academic research initiatives), in recruiting and retaining scientists and to create an effective structure to commercialize the product of science and technology research.

• Between 20% and 30% is earmarked for the development of research infrastructure, such as institutes, programs, incubators, and more.