Peña Nieto ups the ante for tech, innovation

Mexico has budgeted 70.4bn pesos (US$5.5bn) for science, technology and innovation development in 2013, President Enrique Peña Nieto announced. The amount is 15% above that earmarked for 2012, which "is relevant if you consider that the total budget all together grew just 2.3%," he said. Lawmakers have until December 31 to approve the total budget. Another 950mn pesos, or 73.5% more than this year, will go towards increasing the educational curriculum at technological institutes, Peña Nieto said. The idea is to boost public funding in order to encourage private investment in science and technology, turning the sector into a driver of the Mexican economy. At the same time, Mexico is looking to halt the brain drain and flight of talent that is affecting the country. "Mexico needs to recognize, value and take advantage of the great value of our human resources," the president said.