The City of Knowledge Foundation invests US $ 4 million annually in the entrepreneurial ecosystem. The objective is to boost local startups. The Foundation allocates between US25,000 and US50,000 directly to selected projects. This adds to the support programs for incubators.
Support portfolio expansion
Resources allow the city of knowing how to expand its portfolio. They offer new tools to accelerate the growth of startups. Funds strengthen the presence of the Panamanian ecosystem on the map of regional innovation.
Knowledge City and its impact on the entrepreneurial market
Its incubation program supports 59 local startups. It facilitates access to mentors, investors and strategic allies. The Foundation has positioned itself as a key engine for the development of talent. It also promotes innovation in the country.
The programs manager, Cristina Collazos, explains. “This investment is a key step to meet our purpose,” he says. «We want capital and knowledge to cease to be a barrier to entrepreneurs. They must become a tool that allows them to grow, innovate and focus on what they know best: create global impact solutions. “
Challenging context for startups in Panama
The announcement occurs in a moment with several challenges for entrepreneurs. Investments are concentrated in traditional sectors. In addition, there is a low risk opening. The local market is smaller. Therefore, startups must think of regional solutions since their inception.
Despite the challenges, the city of knowledge works with other funds. One of them is the Venture Club Latam, which invests between US100,000 and US300,000. It also collaborates with the National Secretariat of Science, Innovation and Technology (Senacyt). Thus, startups access non -reimbursable funds of up to US $ 175,000.
