The World Bank Implementation Status & Results Report Innovation Program for Smart Growth (PINCRI) (P175143) Innovation Program for Smart Growth (PINCRI) (P175143) LATIN AMERICA AND CARIBBEAN | Argentina | Finance, Competitiveness and Innovation Global Practice | IBRD/IDA | Investment Project Financing | FY 2023 | Seq No: 3 | ARCHIVED on 15-Dec-2023 | ISR58974 | Implementing Agencies: Agencia Nacional de Promocion de la Investigacion, el Desarrollo Tecnologico y la Innovacion, Argentine Republic Key Dates Key Project Dates Bank Approval Date: 21-Jul-2022 Effectiveness Date: 02-Dec-2022 Planned Mid Term Review Date: -- Actual Mid-Term Review Date: Original Closing Date: 30-Aug-2028 Revised Closing Date: 30-Aug-2028 pdoTable Project Development Objectives Project Development Objective (from Project Appraisal Document) The project development objective is to increase innovation-led sustainable growth by strengthening the national innovation system and facilitating access to capital. Has the Project Development Objective been changed since Board Approval of the Project Objective? No Components Table Name Foster innovation-led private sector growth:(Cost $115.00 M) Promote entrepreneurship and innovation financing ecosystems:(Cost $40.00 M) Strengthening of institutions and policies that promote entrepreneurship, innovation and digital transformation:(Cost $45.00 M) Overall Ratings Name Previous Rating Current Rating Progress towards achievement of PDO Satisfactory Satisfactory Overall Implementation Progress (IP) Satisfactory Satisfactory Overall Risk Rating Moderate Moderate Implementation Status and Key Decisions Project implementation has been satisfactory. One year after the project was declared effective (December 2, 2022), disbursements amount to USD 40.5 million (20%), exceeding the initial projection of USD 9.26 million. The teams at Agencia have been working on preparing proposals, TORs, and other project documents to expedite implementation. In Component 1, Agencia has made significant progress in awarding projects within the public-private consortia, ANR-TEC Capabilities, EMPRETECNO, and Tech-Labs (Tecnoteca) programs, including the inauguration of the first Tecnoteca within the Tecnópolis complex in the Municipality of San Martin in August 2023. In Component 2, the legal and technical advisory team (LTA) was formed in June 2023 to support Agencia in legal, operational, and monitoring arrangements under this component. So far, four proposals have been presented to execute this component's venture capital fund activities. Lastly, in Component 3, the implementation of CENDES (Creación o Fortalecimiento de Centros Tecnológicos) to support the creation or strengthening of technological centers to expedite the approval of new products or processes has progressed with the submission of four proposals. 12/15/2023 Page 1 of 7 The World Bank Implementation Status & Results Report Innovation Program for Smart Growth (PINCRI) (P175143) Risks Systematic Operations Risk-rating Tool Risk Category Rating at Approval Previous Rating Current Rating Political and Governance Moderate Moderate Substantial Macroeconomic Substantial Substantial Substantial Sector Strategies and Policies Low Low Low Technical Design of Project or Program Substantial Substantial Substantial Institutional Capacity for Implementation and Substantial Substantial Substantial Sustainability Fiduciary Substantial Substantial Substantial Environment and Social Moderate Moderate Moderate Stakeholders Low Low Low Other -- -- -- Overall Moderate Moderate Moderate Results PDO Indicators by Objectives / Outcomes Component 1: Foster innovation-led private sector growth IN01372949 ►Beneficiaries (percentage of firms, labs and/or research consortia supported by the project) that developed new/improved products/protocols/services (Percentage, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 40.00 Date 07-Jul-2022 31-May-2023 07-Dec-2023 07-Jul-2027 Comments: Percentage of firms, labs and/or research consortia supported by the project. IN01372951 Of which were projects that contribute to climate change adaptation and/or mitigation impacts (Percentage, Custom Supplement) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 20.00 IN01372952 12/15/2023 Page 2 of 7 The World Bank Implementation Status & Results Report Innovation Program for Smart Growth (PINCRI) (P175143) ►Number of technology-based start-ups registered and/or strengthened (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 100.00 Date 07-Jul-2022 31-May-2023 07-Dec-2023 31-Jul-2027 Technology-based start-ups registered and/or strengthened by the project. This includes support in the Comments: form of grants and technical assistance. IN01372953 Of which were owned or run by women (Percentage, Custom Supplement) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 30.00 IN01372954 Of which were projects that contribute to climate change adaptation and/or mitigation impacts (Percentage, Custom Supplement) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 20.00 IN01372955 Of which were formally registered as new start-ups (Number, Custom Supplement) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 35.00 IN01372956 ►Increased growth in average annual revenue within beneficiary firms (Percentage, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 18.00 Date 31-Oct-2022 31-May-2023 07-Dec-2023 31-Aug-2027 Comments: Annual average growth in revenue within beneficiary firms. IN01372957 Increased growth in average annual revenue within beneficiary firms owned or run by women (Percentage, Custom Breakdown) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 18.00 Date 30-Sep-2022 31-May-2023 07-Dec-2023 30-Sep-2027 IN01372958 Of which were projects that contribute to climate change adaptation and/or mitigation impacts (Percentage, Custom Breakdown) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 10.00 Date 30-Sep-2022 31-May-2023 07-Dec-2023 28-Oct-2027 12/15/2023 Page 3 of 7 The World Bank Implementation Status & Results Report Innovation Program for Smart Growth (PINCRI) (P175143) Component 2: Promote entrepreneurship and innovation financing ecosystems IN01372950 ►Private capital mobilized for entrepreneurial and innovation financing (Amount(USD), Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 80,000,000.00 Date 30-Sep-2022 31-May-2023 07-Dec-2023 30-Sep-2027 Comments: Private capital mobilized for entrepreneurial and innovation financing. Intermediate Results Indicators by Components Component 1: Foster innovation-led private sector growth IN01372959 ►Number of consortia receiving grants through the project (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 20.00 Date 29-Jul-2022 31-May-2023 07-Dec-2023 30-Jul-2027 Comments: Consortia and companies receiving grants through the project. IN01372962 ►Number of grassroots entrepreneurs certified by Techlabs for Grassroots innovation (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 750.00 Date 07-Jul-2022 31-May-2023 07-Dec-2023 30-Jul-2027 Comments: Grassroots entrepreneurs certified by the Techlabs for Grassroots Innovation program IN01372967 Of which are women (Percentage, Custom Supplement) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 30.00 Component 2: Promote entrepreneurship and innovation financing ecosystems IN01372964 ►Number of beneficiaries accessing private equity financing as a result of project support (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target 12/15/2023 Page 4 of 7 The World Bank Implementation Status & Results Report Innovation Program for Smart Growth (PINCRI) (P175143) Value 0.00 0.00 0.00 100.00 Date 31-Aug-2022 31-May-2023 07-Dec-2023 28-Oct-2027 Comments: Beneficiaries accessing private equity financing as a result of project support. Component 3: Support the strengthening of institutions and policies that promote entrepreneurship IN01372960 ►Number of upgraded research laboratories, technology centers, advisory networks enhanced (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 20.00 Date 29-Jul-2022 31-May-2023 07-Dec-2023 30-Jul-2027 Comments: Research laboratories, technology centres, technolabs and advisory networks enhanced IN01372965 Of which provided services and/or activities that contribute to the impacts of climate change adaptation/mitigation (Percentage, Custom Supplement) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 20.00 IN01372966 ►Regulatory bodies with enhanced capabilities (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 5.00 Date 29-Jul-2022 31-May-2023 07-Dec-2023 30-Jul-2027 Comments: Regulatory bodies with enhanced capabilities. IN01372969 ►Number of business environment regulations proposed (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 6.00 Date 07-Jul-2022 31-May-2023 07-Dec-2023 30-Jul-2027 Comments: Institutional and regulatory improvements supported. IN01372970 Of which supported government initiatives contributing to climate change adaptation and/or mitigation impacts (Number, Custom Supplement) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 2.00 12/15/2023 Page 5 of 7 The World Bank Implementation Status & Results Report Innovation Program for Smart Growth (PINCRI) (P175143) Cross-cutting IN01372961 ►Percentage of innovative products and processes developed and/or adopted by the private sector that contributes to climate mitigation (Percentage, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 50.00 Date 29-Jul-2022 31-May-2023 07-Dec-2023 30-Jul-2027 Innovative products and processes developed and/or adopted by beneficiaries that contribute to climate Comments: adaptation/mitigation/circular economy from call of proposals directed towards climate-related projects. IN01372963 ►Percentage of beneficiaries satisfied with the Agency's activities during the preparation of the project (Percentage, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 70.00 Date 29-Jul-2022 31-May-2023 07-Dec-2023 30-Jul-2027 Beneficiaries satisfied with the Agency's activities during the preparation of the project. This survey will be used to measure the quality of services supported by the project but will also allow for suggestions on how to improve these services. As such, this indicator will both measure citizen engagement and act as a Comments: feedback loop to inform project interventions going forward with implementation. Agencia will also hold consultations with the beneficiaries and will draft action plans to close potential implementation gaps up to 3 months after the completion of each survey. IN01372968 Percentage of women beneficiaries satisfied with the Agency's activities during the preparation of the project (Percentage, Custom Supplement) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 70.00 Performance-Based Conditions Data on Financial Performance Disbursements (by loan) Project Loan/Credit/TF Status Currency Original Revised Cancelled Disbursed Undisbursed % Disbursed P175143 IBRD-94340 Effective USD 200.00 200.00 0.00 40.50 159.50 20% Key Dates (by loan) Project Loan/Credit/TF Status Approval Date Signing Date Effectiveness Date Orig. Closing Date Rev. Closing Date P175143 IBRD-94340 Effective 21-Jul-2022 28-Oct-2022 02-Dec-2022 30-Aug-2028 30-Aug-2028 12/15/2023 Page 6 of 7 The World Bank Implementation Status & Results Report Innovation Program for Smart Growth (PINCRI) (P175143) Cumulative Disbursements Restructuring History There has been no restructuring to date. Related Project(s) There are no related projects. 12/15/2023 Page 7 of 7