Business Incubation in Uruguay

1
Business Incubation in Uruguay

• Manuel Bello
• LATU - INGENIO
• Montevideo - Uruguay

2
Pioneering Incubation in Uruguay

• Technology Incubator
• ICT
• Digital Animation
• Electronics
• Origin
• LATU
• ORT University
• IADB
• Mixed Incubation Model
• 9 companies in Physical Incubation
• 7 companies in Virtual Incubation

3
What Challenges did we Face?

• Cultural
• Lack of Entrepreneurial Culture
• Environment
• Low Degree of Innovation in Local Companies
• Entrepreneurial Ecosystem Slowly Emerging
• Lack of Critical Mass of Entrepreneurs in New
  Areas
• Financing
• Few Financing Instruments Adapted to Startup
  Needs
• Regulatory
• No State Policies for Science, technology and
  Innovation

4
What are the Results so Far?

• Some Facts
• 13 new innovative companies graduated.
• Incubated companies revenues 2 million USD
  annually
• 124 full time high quality jobs created
• 7 companies doing business in international
  markets
• Main Achievements
• Placing Business Incubation in the National
  Scenario
• Introducing New Instruments for Entrepreneurship
  Development
• Help Build Entrepreneurship Communities in New
  Areas
• Contributing to the Development of a Regional
  Incubator Network

5
Building Entrepreneurship Communities2nd
National Videogame Contest - December 2007
6
Importance of Regional and Global Incubator
Networks

• Local
• Entrepreneurial Ecosystem
• National Associations
• Regional and International
• Regional Associations
• Regional Programs
• InfoDev Global Network
• Knowledge Exchange and Validation
• IDisc Toolkit (www.idisc.net)
• Peer to Peer Networking

7
Supporting the Regional NetworkInternship
Program for Incubators in Latin America and the
Caribbean

• 55 Companies Organizations
• 14 LAC Countries
• 5 National Associations
• 22 Projects Supported

8
The Network is the Incubator !!

• The Development of Effective Contact Networks is
  the Greatest Value an Incubator Can Offer to its
  Entrepreneurs.

9
How to Encourage Entrepreneurship?
Wide Access to ICT, Knowledge and Technology at
all levels in the community
10
Images from Ceibal
11
Thank You !!

• mbello_at_latu.org.uy
• www.ingenio.org.uy