Previous Story
Young innovators receive incentives for their ventures
Posted On 29 Oct 2020
An amount of $ 792 thousand of seed capital delivered this Wednesday, October 28, the National Government to the 12 winners of the INNOVACyT 2019 contest , as a measure to strengthen the economic and productive matrix, by supporting entrepreneurship.
Young innovators receive incentives for their ventures
The delivery of these resources took place in the Carondelet Palace, with the presence of the President of the Republic, Lenín Moreno ; In addition, the call for the 2020 edition was made, in which $ 1 million will be awarded.
In his speech, the President congratulated the winners, who passed a selection process among 400 applicants . He explained that the selection was made by a group of experts who valued innovation, sales potential, contribution to the environment and the ability to generate employment . “These are the initiatives that reactivate the economy and allow us to sow the future we want for our youth!”
The Head of State announced the call for the INNOVACyT 2020 contest, “which will distribute $ 1 million among the good ideas of Ecuadorian entrepreneurs.”
Alexis Carrera, creator of the Muu project (smart earrings, drones, sensors and advanced telecommunications for livestock, which seeks to protect farms and livestock at low cost, through satellite communication) thanked the Government for the support of these initiatives.
“Thank you for believing in us at this difficult time. We also bet everything on the country, this joint commitment is what generates sustained progress. We receive this funding with pride in our work and with the humility that we must make the best use of these resources, ”said Carrera.
The head of the Ministry of Higher Education, Science, Technology and Innovation (Senescyt), Agustín Albán , stressed that entrepreneurs, in the midst of a complicated panorama due to the pandemic, redoubled their efforts to make their dreams come true.
“The Government recognizes this value through resources. Innovation plays a fundamental role because through this new industries are created , jobs in non-traditional sectors and wealth is generated for everyone. Innovation and technology are the common thread, not only for Ecuador , but for the world, ”said Albán.
INNOVACyT is part of the Venture Capital Fund Trust, in which the Ministries of Production, Tourism, Economy and Finance, Agriculture and Livestock, Senescyt and the National Finance Corporation (CFN) participate as trustees.
Among the winning projects are initiatives focused on transportation and logistics , biotechnology, technology, metalworking, fresh and processed food and environmental services. (I)
