A. M. El Salvador is making steady progress in its ambition to become a hub of innovation in Latin America. With the aim of accelerating economic growth, the country has managed to attract important allies that will boost emerging companies. This government effort has received the backing of key players, consolidating a favorable environment for startups.
One of these strategic alliances has materialized with the arrival of CoreNest. This prestigious company will allocate an initial investment of US$25 million. This fund will be used to support 100 emerging companies over a period of three years, with plans to expand the amount to US$100 million to encourage the growth of more startups in El Salvador.
According to the Minister of Economy, CoreNest arrives at the ideal moment to inject dynamism into the innovation system. The arrival of this fund marks a new stage in the country’s positioning and a great opportunity to attract more startups from the region.
El Salvador is becoming the ideal place to establish investments and grow.
Each beneficiary startup will receive an investment of up to US$125,000, in addition to participating in a 12-week acceleration program. This program will include mentoring from international experts and opportunities to connect with large companies. CoreNest will focus on strategic sectors such as artificial intelligence, digital finance, e-commerce, and telecommunications.
Bob Ras, co-founder and general partner of CoreNest Capital, said this investment is just the beginning. The goal is for El Salvador to become the region’s leading innovation hub over the next 10 years, attracting new investments and opportunities. The vision is to transform the country into the “Silicon Valley of Latin America” by investing in talent and creating jobs.
