Such network would be composed of angel investors, who would invest in projects with innovative ideas, at the very beginning of their life-cycle. According to studies, several SMEs fail to survive in their first three years, mostly due to lack of funding and little knowledge of how to run a business.

Laprensagrafica.com reports: "Fernando Prieto, president of Southern Angels, will assist in creating this network. Southern Angels has successfully helped many entrepreneurs in getting funding for their projects, even taking some ideas to Sillicon Valley".

Source: laprensagrafica.com

More on this topic

El Salvador Announces New Finance Production Program

October 2011

The Ministry of Economy has announced the availability of non-refundable co-financing line entitled: "Dynamic Start Up: Seed Capital."

A press release from the Ministry of Economy of El Salvador reads:

The Ministry of Economy (MINEC), through the Productive Development Fund (FONDEPRO) on October 12 announced to businesses, support institutions for start-ups, and the general public, the availability of a co-financed NON-REFUNDABLE line called: "Dynamic Start Ups: Seed Capital" with the aim of promoting economic development in the country, supporting innovative projects with growth potential, and competitive advantages.

First Tuesday Opens in Panama

May 2010

It fosters entrepreneurship by creating business networks; they connect innovators and entrepreneurs with angel investors.

In Latin America, First Tuesday already operates in El Salvador and Chile, and is expected to open soon in Argentina, Colombia and Peru.

José Chen Barría is the executive director of Panama’s Foundation for Economic and Social Development (Fudespa), and responsible for bringing the program to Panama.

Venture Capital Funds

April 2010

The so called ‘entrepreneurial capital’, ‘seed capital’ or ‘angel capital’ industry moves around $3.2 billion in Latin America.

At the event “Costa Rica Investment World”, hosted in San José last week, attendants agreed on a window of opportunity for venture capital funds, aimed to fund business projects, especially in food, education, health and financial services sectors.

Up to $1.000 in Seed Funding for SMEs

November 2009

In addition to non-reimbursable funds, Panamanian entrepreneurs will receive technical assistance for elaborating business plans.

Congress is discussing Law 35, which comprises the creation of the Entrepreneurship Fostering Fund. This includes a Seed Capital trust fund, and resources for Technical Assistance, Guarantees and Micro-credit.