South America

Colombia govt assigns $12M to help launch startups

colombia startups funding

Colombia’s National Service of Learning (SENA) vows $12 million to help launch startups. The move is set to help develop 420 entrepreneurial initiatives, creating 2,000 jobs.

Entrepreneurs will receive granted funds that are directly proportional to the potential amount of jobs their startups can create, through the Fondo Emprender (Entrepreneur Fund) program.

The announcement comes parallel to SENA’s 60th anniversary celebration. The organization inspired by Brazilian institution SENAI (National Service of industrial Learning) aims to educate professionals in technical and technological programs. SENA maintains more than 500 courses across over 100 programs in areas of design, health, and construction, among others.

Fifteen years strong, the Fondo Emprender prides itself for assigning more than $152 million to entrepreneurship, assisting over 6,000 companies to help employ over 22,000 Colombians.

colombia startups fund

Carlos Gamba, Coordinator at Fondo Emprender

“It is created as a seed capital to encourage any Colombian who has any productive initiative,” reported Carlos Gamba, coordinator of Fondo Emprender.

In the new funding program, SENA will allocate a budget to low-income areas of Guajira and Chocó, besides previous beneficiaries, like Vaupés, Putumayo and Amazonas.

The Fondo Emprender highlights that “People of vulnerable communities of Colombia and groups like young rural entrepreneurs and development leaders are also welcome to participate.”

Mocoa, the Putumayo capital, will also be allocated $340 to help rebuild after April’s disastrous flash flood.

The program is completely free to apply, and it will also “help everyone to succeed in every business plan and teach people how they can make their dreams become reality,” according to Gamba.

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