Creating Innovative Values and Solutions through Technology
Creative Technology Solution (CTS) is an innovation faciliting SEED program from the Korea International Cooperation Agency (KOICA).
CTS transforms innovative ideas into viable and creative solutions to socio-economic problems in developing countries by identifying creative ideas and supporting market-testing and commercialization.
The program provides entrepreneurs with opportunities to identify and test their innovation and technology-oriented solution. CTS then develops innovative entrepreneurs who are key and essential actors in translating the five year "Science, Technology, and Innovation (STI) for Better Life Initiative" pledged by the Korean government into concrete and viable actions.
- Tackle and reduce inequalities between countries and between social classes by targeting the Bottom of the Pyramid (BOP) consumers (the most socially and economically underprivileged population group). Targeting these consumers gives technology developers and businesses opportunities to explore and identify potential innovation. There is growing recognition of the inclusive business model that targets BOP consumers, a population of approximately 4 billion people with an estimated market worth of $5 trillion.
- Strengthen the effectiveness of development through Science, Technology, and Innovation (STI) in the context of the Sustainable Development Goals (SDGs). SDGs reports highlighted STI as an important means of implementation to address social problems and facilitate economic growth in developing countries. Global partnerships and sharing of knowledge are being facilitated in the area of STI.
- Enhance the capacity to adapt to the changing global landscape and be ready for the future. Maintain openness for free and vigorous flows of innovative ideas for value creation. Identify, validate, and scale up diverse creative solutions through collaboration with the Grand Challenge for Development and Development Innovation Venutres of the U.S. Agency for International Development.