Accelerate your innovative startup from Uruguay
The acceleration program seeks foreign innovative ventures with the potential to grow and scale globally. They must install the company in Uruguay, generate quality employment, as well as exports or sales in the domestic market. They will receive workshops and will be eligible for support of up to US$70,000 non-refundable.
This is the second edition of the program, which is aimed mainly at ventures from the region, although they may be submitted from anywhere in the world. The main requirement is that they must be innovative with respect to the supply of products or business processes already existing in Uruguay.
The program consists of two phases. Selected companies must participate in a pre-acceleration phase, which includes online workshops with relevant information for setting up the company in Uruguay. This stage ends with an elevator pitch presentation to an evaluation committee and investors (local and regional investors linked to ANII).
The projects selected for the second stage will receive non-refundable financing of up to US$70,000 (in the form of non-refundable support), corresponding to 70% of the project's eligible cost (the companies must contribute at least the remaining 30%).
Those who reach this acceleration phase must set up the company in Uruguay, but it is not a requirement that the same entrepreneur who applied for the program moves to the country; for example, they are allowed to hire a local country manager. The requirement is that the company has at least one employee working there at the beginning.
Companies must have at least one year of turnover and the objective of developing operations there or commercial exploration of the Uruguayan market. Entrepreneurs may apply until July 6 at proyectauruguay.uy.
This initiative is in addition to others promoted by the Uruguayan government to attract foreign investment, but this time the focus is on innovation. In this line, Uruguay offers foreign entrepreneurs advantages, facilities and certainties for the installation of foreign companies: financial stability and freedom, legal security, full democracy (first in Latin America) with transparent institutions, social stability, a strong educational system that has trained first class human resources, among others.
More information here