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Tuesday, November 29, 2022

The keys to the plan that seeks to turn Uruguay into an innovation hub

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The program will search accelerate the attraction of capital and startups from the region and the world, creating new companies in the country that enhance the local entrepreneurial ecosystem; and promoting the foundation and development of international startups. The acceleration will provide methodology and capital through public-private funds.

According to Paganini, the government hopes to take advantage of the key moment in which Uruguay finds itself to move from being a business hub to a regional innovation hub in which you can test new products, invest and develop projects.

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Other points of the program

Likewise, the Minister of Industry advanced a second component of the ambitious project: the investment fund search from competitive calls —which the government will promote with public funds— for the “Pre Series A” and “Series A” stages, those following the “Seed Capital” stage and those that allow startups to scale.

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The third component of the initiative will be to encourage the installation of open laboratories to strengthen the national ecosystem. In this sense, Uruguay has already established contact with partners such as Microsoft, Antel, UTE and Newlabwhich have implemented laboratories for intelligence, Internet of Things and 5G in the Technological Laboratory of Uruguay (LATU)as Paganini recalled.

In addition, the program will search bringing scientists closer to the world of entrepreneurship through specific components that allow them to leave the strict field of science towards the development of products and companies, around fields of innovation anchored in LATU.

Source: Ambito

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