There are Few Truly Innovative Start ups

Nearly three-quarters of newly formed companies arise from ideas that are not very innovative, and there are very few that are export-oriented.

Tuesday, April 30, 2013

This was revealed by the "National Report 2012: the state of entrepreneurship in Costa Rica". "The research, made with the methodology of the Global Entrepreneurship Monitor (GEM), shows that 73% of new companies created do not offer any new products or services to customers, while for established firms the ratio is 60 % ", reported

The findings apply to all Central American countries, where the situation is the same or worse.

According to Oscar Chaves, president of Aldesa and promoter of private financing programs for new businesses, "the commercial stage in the country is over. Why are there no new products in the country? Because it takes innovation and profound knowledge, acquired in universities, academia and industrial parks. "

More on this topic

Congress on the IT Business in Costa Rica

October 2016

On November 3 and 4 companies in the technology and telecommunications sector will be meeting in San José to explore business opportunities.

The event will be held at the Hotel Real Intercontinental, where more than 40 companies will be taking part exhibiting their products and services. In addition, conferences and business meetings will be held on topics such as digital transformation of industries, artificial intelligence and new business trends.

Success in Business Incubation in Panama

November 2013

Nine of the most prominent success stories of innovation and entrepreneurship registered in the country in recent years have been showcased.

In 2012, BodyGuard Box, won first place in the sixth edition of the National Award for Business Innovation." This is a company that sells software which allows people to avoid accidents in areas where loads are handled and was developed by a Panamanian university student," reports

ITS InfoCom Funded with $20 million

November 2011

The multinational computer services company from Costa Rica has received capital investment from Aureos Capital Ltd., Capital Creation and E3 Capital.

A press release ITS InfoCom reads:

ITS InfoCom receives $20 million in investment

• The Funds will be used to boost the multinational infocommunication company

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.