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The conceptual framework and the instrument of public S&T policies (PCT) in use in Latin America have shown themselves to be increasingly inadequate to respond to the challenges of socioeconomic development. Transferred, in an uncritical way, from the reality of the central countries, very different from the local one, and inherited from a period in which distortions of all kinds accumulated, the concepts belonging to this frame of reference are shown to be dysfunctional mainly for anticipate and enable a scenario of political and economic democratization. Two challenges, to which it is necessary to respond with an innovation policy thatsupposes explanatory-conceptual and normative-operational renewal, seem to be sharpness. At the extra-regional level, adding value to comparative advantages and creating of competitiveness through local innovation are demanding policy measures capable of to connect - selectively and directly - research with the generation of opportunities forMarketplace. Internally, to efficiently and quickly satisfy material needs associated with the scenario of political and economic democratization requires a renewal that involves the reinterpretation of public and private spaces and concepts pertaining to theworld of production, business and research. In addition, the social specificity and local economy seems to demand alternative dynamics of frontier exploration scientific and technological. That is, sociotechnical dynamics differentiated from the mainstream “global” and, in particular, divergent or supplementary to sociotechnical trajectories - todayhegemonic - of transnational corporations.
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