CABEI promotes entrepreneurial spirit in the region

The Central American Bank for Economic Integration (CABEI) will provide technical cooperation amounting to US$25 thousand to the Asociación Incubadora Parque TEC of Costa Rica, an organization that promotes technology businesses, in order to partially finance the project, "Updating the 2012 Global Entrepreneurship Monitor (GEM) study for Costa Rica."

GEM is a global initiative established in the early 90s by the London Business School and Babson College. The initiative involves a worldwide research effort to measure the level of entrepreneurial activity and its impact on the economic growth of countries.

Currently, the global GEM Consortium includes 59 countries and is considered the most important research study in the field of entrepreneurship in the world.

CABEI’s support to Parque TEC, which fosters entrepreneurship and innovation as a business incubator in Costa Rica, is in the framework of CABEI’s Technical and Financial Cooperation Program targeting the Micro, Small and Medium Enterprise (MSME) sector. One of the program’s general objectives is to contribute to MSME development, growth and productivity in Central America.

CABEI Executive President Dr. Nick Rischbieth noted that the operation supports new ideas and innovations and the formation and development of new businesses, promoting the entrepreneurial spirit through incubators, entrepreneurial development and local management, among others.

CABEI is dedicated to promoting the balanced economic and social development of the Central American nations.

This initiative is in the framework of the focus area of Financial Intermediation and Development Finance in the CABEI 2010-2014 Institutional Strategy, “Competitiveness with Social Integration and Development."