Developing startups in a still challenging environment
By Guy José Bendaña-Guerrero & Asociados
The National Technological Institute (Inatec) of Nicaragua organized its third innovation workshop, called "Startup Day", to develop new products, services and economic possibilities with the participation of creators and businessmen from across the country.The event looked to connect incubation and acceleration programs with local young innovators with the aim of strengthening technology and economic knowledge.
Nicaragua’s economy still has significant potential for growth, with a need of restoring investor confidence. Its assets include: ample natural resources; a well-developed agricultural sector; a highly organized and sophisticated private sector committed to a free economy; ready access to major shipping lanes; and a young, low-cost labor force that supports a vibrant manufacturing sector.
The country’s innovation environment has been supported by national and international organizations like UNICEF, who develop innovation camps. Some of the most recent ones were implemented in rural and marginalized communities of the Nicaraguan Caribbean Coast. The goal of these camps is to establish a space beyond conventional forums wherein children, adolescents and young people can exercise their creativity and solve social problems affecting their day-to-day reality.
Currently the most well-know startup is Aventon, a mobile app for on-demand services for Central America which offers mobility technology and resources that helps to build a sustainable future with better living wages.
