proposed to the International Telephone and Telegraph Corporation (ITT) the joint creation of an agency dedicated to research and technology transfer, as part of a transaction agreement in return for the expropriation of the Chilean Telephone Company, owned by ITT. The proposal was enthusiastically accepted by the President of ITT's Board of Directors, Harold Geneen. As a result of that agreement, in August 1976 Fundación Chile was created as a private, non-profit corporation, provided with an endowment. The creators state that the aims of the institution were “scientific and technological research, its development, and subsequent application to the economy”. It was mainly about bringing into the country proven technologies that had been developed elsewhere.
g
at that time Minister for Economic Coordination,
ing the Futu uild re B d n a
I
n October 1975 the well known engineer Raúl Sáez,
Visu a liz in
The History