Proceedings of the 9th International Conference on Applied Research in Management, Economics and Accounting
Year: 2024
DOI:
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Empowering the Amazon: Entrepreneurship and Sustainable Development for Native Prosperity
Pedro Carlos Refkalefsky Loureiro, Fernanda Gabrielle Filiphina Paixão dos Santos
ABSTRACT:
This essay explores the establishment of an innovation center in Belém, Pará, in the Brazilian Amazon, highlighting future possibilities for sustainable economic development. With government investments in cutting-edge science, universities and public laboratories can become centers of excellence, driving advancements in biotechnology, environmental science, and tropical medicine. Partnerships with international institutions enhance technology transfer and knowledge exchange. Encouraging local entrepreneurship through fiscal incentives and incubation programs fosters the creation of startups focused on green technologies, sustainable agriculture, and eco-tourism. Emphasizing biodiversity conservation and respect for native peoples as fundamental principles for sustainable development, this essay draws on the economic theories of the Austrian School, particularly the contributions of Ludwig von Mises, Carl Menger, Eugen von Böhm-Bawerk, Friedrich von Wieser, Friedrich August von Hayek, and Joseph Alois Schumpeter. These theories underscore the importance of entrepreneurship, local knowledge, and continuous innovation. Schumpeter’s concept of “creative destruction” and Menger’s subjective value theory are applied to contextualize innovation in Belém. Thus, establishing an innovation center in Belém would not only drive economic development but also promote environmental conservation and respect for local cultures, serving as a model for sustainable development in other regions worldwide.
keywords: Brazil; Innovation; Biodiversity; Conservation; Cleantech