UTEC Ventures is working to strengthen the startup ecosystem in Peru, connecting startups to investors and convincing more young people to consider becoming entrepreneurs. As a GIST Innovation Hub, UTEC Ventures will tap into an international network of accelerators and incubators who can share knowledge and provide insights on the best way to support entrepreneurship in emerging economies.
Startups: 17 startups in accelerator programs, 43 startups in incubation programs
Sectors: Mentorship, Startup Acceleration, Startup Incubation, Angel Investment, Industry Disruption
A Closer Look at UTEC Ventures:
The Peruvian startup ecosystem has a lot of potential, according to Rodrigo Fajardo, program coordinator at UTEC Ventures. A recent influx of government initiatives and private support programs for entrepreneurs has created the right mix for innovative startups to lay down roots and grow. But despite the possibilities, young tech talent does not generally consider entrepreneurship a viable career path. It is a mindset Fajardo said UTEC Ventures is trying change.
As the entrepreneurship department of the University of Engineering and Technology (UTEC) in Lima, Peru – UTEC Ventures is already offering its entrepreneurs a vibrant array of support programs, from startup acceleration and incubation to angel investment networks. UTEC Ventures is also an active member of the GIST Network, hosting a GIST Startup Boot Camp in 2016 and becoming a GIST Innovation Hub that same year. UTEC Ventures has remained in the GIST program as a way to tap into a global network of ecosystem builders in emerging economies – a network that can provide insight and assistance to the Peruvian incubator.
“It’s a great platform for discussion and networking. There is so much to learn from partners around the world, especially from other emerging countries that confront problems like ours,” said Fajardo about I-Hub. “I hope it’s going to make us more connected to the world, help us be a better actor of the international ecosystem, nourish the local entrepreneurship experience and inspire young tech graduates to see entrepreneurship as a solid way to make their aspirations real.”
As an I-Hub, UTEC Ventures will work over the next year to connect its entrepreneurs to the global network of resources offered by the GIST Network. It will also work to provide continued support to Peruvian entrepreneurs, capitalizing on the knowledgebase available within the GIST Network to support accelerators and incubators in emerging economies. Through this partnership, UTEC Ventures will build a startup ecosystem that fosters innovation and encourages young Peruvians to become entrepreneurs.
UTEC Ventures Updates:
First Ever Venture Capital Conference at UTEC Ventures
In 2017, UTEC Ventures hosted its first venture capital conference. Speakers included Chris Heivly, co-founder of MapQuest, Paul Singh from the Disruption Corporation, and Claire Delauney, founder of Otto – which was recently acquired by Uber. More than 600 entrepreneurs and investors attended the conference, many of the investors representing corporations interested in innovation and working with startups. The conference helped create visibility for Peruvian entrepreneurs and the Peruvian startup ecosystem, facilitated startup investments, created strategic alliances between startups and corporations, and was even featured in industry news outlets like TechCrunch.