Uruguay Launches US-Backed Startup Accelerator

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Uruguay launched a business accelerator as part of a White House initiative designed to promote early-stage businesses in Latin America and the Caribbean.

The accelerator, named the “Angel Investor’s Network of the Americas,” aims to support up to 750 startups in the coming months through mentorship and funding.

The accelerator has already secured US$1 billion in investment. US National Security Advisor Jake Sullivan stated that the Angel Investor’s Network will oversee all activities related to financing, mentoring,and promotion for the chosen startups.

Endeavor Miami, a renowned US accelerator with strong ties to Latin America, and the IDB Lab have pledged their support and cooperation with the Uruguayan project. This collaboration is expected to enhance the resources and contacts available to participating startups.

In a parallel effort, the US State Department announced US$3 billion worth in development projects in the region.

“Under the America’s Partnership Platform, the United States will provide technical and financial assistance to boost private sector investment in infrastructure across the hemisphere,” a press release stated.

Uruguay is not the only country receiving US support. Costa Rica recently established a Center of Excellence to train regional talent in various fields, ranging from cybersecurity to artificial intelligence.

This initiative aims to build a robust knowledge base and foster innovation throughout the region.

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Uruguay Launches US-Backed Startup Accelerator

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