The Ministry of Production has a budget of $ 12 million to finance new businesses in the country. A new call for training and advice is open.
For Ecuadorian entrepreneurs to develop their businesses and these are sustainable over time, the Ministry of Production, Foreign Trade and Investment presented a new program on Wednesday, April 24.
This initiative is leveraged by two private companies specializing in management and development of ventures: Muyu and Master Game. Yuri Parreño, minister (s) of Foreign Trade, indicated that the program contemplates three stages.
The first is called Prepare, which will be taught, through 10 workshops, tools for a proper development of the idea of entrepreneurship. The stage continues beginning a buisness which will work with entrepreneurs in the initial stage or who have not yet effectively connected with the market. And the third phase is Commercial Acceleration, to support those who already market and seek expansion or growth.
It is expected to assist 250 entrepreneurs in Quito at the beginning of the program in the cosmetics sectors; food and drinks; handicrafts; tourism and services for industry, among others. The registrations are received through the web page of Muyu or the Ministry.
This company and Master Game invest $ 100,000 for the first stage trainings that are free for participants. The support that the entrepreneurs will receive will be integral. Muyu will be in charge of the commercial development of the project. Its methodology is characterized by product testing at specialized points of sale to measure market acceptance.
In this way, it will be determined whether or not to proceed with a large investment, explained its director, José Luis Benítez. He added that the only requirement to participate is that the idea is innovative, that is, “novel and necessary”.
On the other hand, Master Game Ecuador will train in behavioral aspects of the participants. “We Ecuadorians are not trained to be entrepreneurs. More than 38% of entrepreneurs fail due to fear, “said his representative, Julio Ocaña.
Therefore, its instruction will focus on techniques of conflict resolution in the face of economic losses or rejections of clients. The program presented this Wednesday April 24 is part of the general sponsorship that the Ministry offers to those who want to start a business. For this year, the entity has a budget of $ 12 million to finance seed and risk capital.
In 2018 they supported 3,500 enterprises and 435 so far in 2019. Their main characteristic is that their mortality rate is zero, Parreño said. This quality is important, especially when the mortality rate of new businesses in the country is around 80%, despite the fact that entrepreneurial activity is one of the highest in the region. (I)