The project provides seed capital funds that support entrepreneurs in the initial stages of their start-up
Technology with a Tropical Twist
COSTA RICA
There is more to the Information and Communication Technology (ICT) industry than just large European and American multinationals. In fact, a number of important technology companies are based in Costa Rica, a country that stands out in Latin America for the quality of its technical education system. Nonetheless, the inability of local small and medium-sized enterprises (SMEs) to truly stimulate the growth of this high value-added sector has limited its overall development potential. A Multilateral Investment Fund (MIF) project with ParqueTec seeks to promote high-tech start-ups by supporting Costa Rican entrepreneurs.
The result: 20 IT firms have been created between the volcanoes and beaches of this Central American nation.
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Facts and Stats
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The project has received 61 applications and recruited 40 Costa Rican entrepreneurs for the incubator
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3 trade fairs and missions were organized and 121 companies have participated in national business network events.
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Over 50 investors have committed to the initiative by joining the angel investor network.
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Three entrepreneurs have obtained contracts amounting to over US$ 100,000 .