Entrepreneurs from the region participate in the DINAMICA Initiative-sponsored Innovate Summit 2017

Guatemala, August 04, 2017-. The Central American Bank for Economic Integration (CABEI), which is the executing unit of the Initiative for the Development of Business Ideas and Acceleration of Central American MSMEs (DINAMICA Initiative), supports the 2017 edition of the INNOVATE Entrepreneurship Summit. Guatemala City will become the Central American capital of entrepreneurship, receiving hundreds of young people with innovative ideas, high-impact entrepreneurs in the region and renowned professionals in the areas of Strategy, Innovation, Marketing and Business; the event will be held on August 4 and 5.

This is the second consecutive year of the INNOVATE Entrepreneurship Summit, which is the most important event for entrepreneurs in the region. It will offer 2 days of conferences, workshops, locally applied trends, innovation and significant networking in order to foster innovation, entrepreneurship and productivity in the Central American economies. In addition, the event serves as a turning point for projects of emerging entrepreneurs who wish to generate positive changes in the region.

More than 30 national and international exhibitors and mentors, such as Engel Fonseca (Mexico), Juan Gutiérrez (Colombia), Angélica Herrera (Colombia), Alejandro Rosales and Edwin Amaya, among others, will develop an activity in which participants will try to obtain information from people who have extensive business experience. In addition, experts will provide specific conferences to address global impact issues. Parallel workshops will also be carried out with practical exercises that will help participants to learn by doing.

INNOVATE SUMMIT Executive Director, Diego De León, added that, "The event will revolve around 4 main subjects: Innovation, Strategy, Marketing and Business, which are the fundamental pillars on which entrepreneurship must be currently based."

The event has support from the DINAMICA Initiative, which is a tripartite initiative of CABEI as executing entity, the Government of Germany through its KfW Development Bank and the European Union as part of its Latin American Investment Facility (LAIF). Its main objective is to strengthen the MSME business ecosystem, especially for new, young and/or innovative MSMEs. This approach also includes strengthening the financial sector at a regional level to promote adequate access to financial services for these MSMEs.

In order to achieve these objectives, the DINAMICA Initiative has (1) a EUR50 million in reimbursable resources from Germany through its KfW Development Bank and CABEI, which are channeled as loans to regional MSMEs through CABEI’s network of intermediary financial institutions. In addition, it has (2) a EUR3.8 million donation from the European Union for technical assistance and training of the Dynamic Business Development Centers, MSMEs affiliated to these centers and CABEI’s network of intermediary financial institutions.