Governments can often be criticized for being slow in the innovation game, but it cannot be refuted that once a government agency is behind the push – it tends to create a waterfall effect where startups, accelerators and investors take notice.
As such, here we chronicle the government innovation agencies in Latin America making the case for why the region is ripe for growth.
Who: CORFO is the Chilean government agency in charge of supporting the development of Chilean companies both internally within the country, but also on their international expansion. CORFO is the agency responsible for the internationally recognized Start-Up Chile Program in 2012 which has seen launched various Chilean and international startups.
So much so that Chile is now considered the top 3 startup ecosystem in Latin America.
CORFO also offers various innovation grants to help companies launch and develop – especially in the area of research and development.
Who: INNPulsa is the entrepreneurship and innovation agency for Colombia which has been involved in bringing Colombia up to becoming ‘the’ tech hub for the region. The government agency has been expanding aboard in creating many alliances with various innovation agencies abroad such as Israel, to help create more opportunities for Colombian tech startups.
Who: FINEP is Brazil’s leading innovation agency that boost various innovation programs along with acceleration programs for Brazilian startups. The agency also posts various tenders and bids for companies to participate in. In addition, FINEP collaborates closely with APEX-Brasil (Brazil’s Trade and Investment Promotion Agency) which helps Brazilian companies expand abroad through it’s alliances and programs.
Who: ADIP is the agency leading Mexico’s digital transformation journey, specifically in areas such as smart cities whereby the country is leaning very heavily towards. The agency ties in very closely with collaborations with international agencies such as G20 and the Alliance for Open Government.
Who: Innovate Peru was founded in 2014 with the aim of increasing business productivity by strengthening the actors of the startup ecosystem in the country including players such as entrepreneurs, companies, accelerators and more. Since 2019, the agency has launched over 3400 projects aimed at strengthening the tech ecosystem in the country including programs like Startup Peru.
Who: ANII or the The National Research and Innovation Agency in Uruguay aim is to develop the Uruguayan startup ecosystem which has grown tremendously over the last couple of years including a few notable unicorns under it’s name. The agency provides international postgraduate scholarships and incentive programs to simulate and grow an innovative culture in the country.
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