San Salvador, the capital of El Salvador, has risen 10 places in the Global Startup Ecosystem Index (GSEI), compiled by StartupBlink, moving from 715th to 705th globally as venture capital investments from firms like Innogen Capital fuel early-stage enterprises.
Innogen Capital, a Salvadoran venture fund that raised approximately $10 million over the past few years with significant support from USAID, has recently begun selecting startups for investment.
The fund aims to support startups across various sectors, including tech, healthcare, tourism, and banking, to drive economic growth within the country.
El Salvador’s startup ecosystem has seen marked improvement in recent months, largely due to recent government initiatives that include tax exemptions for the tech sector and partnerships with industry giants like Google to enhance ICT infrastructure, including high-speed internet and data centers.
Additional support for the local entrepreneurial scene comes from Delta Accelerator, which connects Salvadoran talent with established investment networks in the U.S. and Europe.
Another accelerator is Impact Hub, which has launched over 25 programs in the past five years to support more than 3,500 micro and medium-sized enterprises, fostering a dynamic startup environment.
The Central American nation is experiencing increased safety and attracting tourists from around the globe following the successful crackdown on many of its drug gangs.
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Publish date : 2024-10-28 06:49:00
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