Teknowledge Lands in El Salvador with $20 Million Investment Plan

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Tech and cybersecurity services firm Teknowledge opened a delivery center in San Salvador (El Salvador), planning to invest US$20 million and create 200 jobs by year’s end.

This is El Salvador’s second major tech investment following the implementation of a generous tax exemption plan for tech companies. Earlier this year, Google launched an office in the country, promising to create digital ecosystem for local businesses to grow.

Teknolwedge stated that it has hired approximately 100 Salvadoran engineers at its Millennium Plaza office and that these engineers successfully resolved over 1,200 cybersecurity incidents.

Companies of the caliber of Teknowledge remain a rarity in El Salvador due to a years-long security crisis from which the country is recently emerging.

Current president Nayib Bukele launched a vicious crackdown on criminals in 2022, turning El Salvador into one of the safest countries in the Americas almost overnight. Although the humanitarian cost has been high, there are hopes for a revival of El Salvador’s foreign investment and tourism landscapes now that the streets are clean.

El Salvador’s investment promotion agency, INVEST, characterized Teknowledge’s arrival as the start of the country’s potential to become a regional hub for innovation and technology. INVEST highlighted the company’s history of providing skill training programs, which will help elevate the country’s technological expertise.

Teknowledge, which employs 6,000 people globally, operates in several Latin American countries, including Costa Rica, Colombia, Honduras and Argentina. The company provides tech support, consulting and IT management services.

A large portion of Teknowledge’s revenue comes from managed security services (MSSP), including cybersecurity breach analysis for financial institutions and governments.

Cyberattacks pose a growing threat in Central America, as seen last year when Costa Rica declared a state of emergency after a major cyber incident crippled its IT infrastructure.

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Teknowledge Lands in El Salvador with $20 Million Investment Plan

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