promotes entrepreneurship and sustainability of Peruvian start-ups with the support, financial backing, and advice provided by successful Korean companies.
With this goal in mind, the agency virtually launched the Project to Strengthen Innovation and Entrepreneurship based on ICTs —worth US$8 million.
Thanks to this initiative,
KOICA will open an exhibition that will annually select and promote the best cases featuring ideas launched thru 2024, in order to activate the entrepreneurship and innovation ecosystem in Peru.
Meanwhile, it will grant "Seed Money" or seed capital (support fund for start-up ideas) to support the selected enterprises.
KOICA will also perform mentoring and consulting services supported by the network of specialists from both countries in order to provide foundations to the selected firms, so that they can become profitable companies.
Besides, it plans to establish public innovation, cooperating with the main universities in Peru, educating the innovation management staff, and supporting the start-ups within its network to make them sustainable in Peru.
Likewise, he commented that the start-up ecosystem in Peru has infinite possibilities, adding that he hopes it will be strengthened to make it more competitive.