The project provides seed capital funds that support entrepreneurs in the initial stages of their start-up
Technology with a Tropical Twist
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.
Facts and Stats
The project has received 61 applications and recruited 40 Costa Rican entrepreneurs for the incubator
3 trade fairs and missions were organized and 121 companies have participated in national business network events.
Over 50 investors have committed to the initiative by joining the angel investor network.
Three entrepreneurs have obtained contracts amounting to over US$ 100,000 .