The opportunities of El Salvador drew the attention of the international corporation
StartupBootcamp (SBC) - a large global firm that focuses on supporting and stimulating various technology start-ups around the world by accelerating their growth.
Specifically, StartupBootcamp is looking to invest up to $3.5 million to develop Salvadoran startups that will be able to apply for participation in a general competition the firm will launch shortly that will select 30 such startups.
International firm will invest $3.5 million in Salvadoran startups Overall, StartupBootcamp's director of global investment notes that one of the things that have caught the firm's attention is the various pieces of legislation that have been passed in the country over the past two years. Including the passage of the Bitcoin Law in 2021 and the passage of the Assets Law. Incentive program for digital technologies and technology companies approved this year.
To apply for the support that the firm will provide, startups must dedicate themselves to development in certain areas such as web 3.0 based on blockchain technology, financial technology (Fintech), energy, travel and tourism, agritech and foodtech, or proptech (market-oriented technologies). real estate sector).
To date, according to StartupBootcamp on its website, the firm has helped accelerate the growth of 1,494 startups worldwide, by providing up to 1.5 million in funding and creating up to 6,679 jobs in these tech companies.
According to the director, the firm he represents is putting some of the money into funding the startup accelerator program, but notes that there are third-party investors who also support, among which there are important international banking institutions and large multinational companies such as Vodafone, Microsoft, Google or Airbus Group.
According to the director of global investment, the program in the country could start later this year, after completing the last three months and the selection process of the technology companies they apply.