Peru promotes the development of technology startups by attracting foreign investors The country hosted the 4th High Technology Investment Meeting, organized by PROMPERÚ, whose goal was to attract foreign investment for local technology and innovation projects.
Lima, Peru
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November 11, 2024 03:00 PM Eastern Standard Time
Twenty-five foreign investment funds from Argentina, Bolivia, Brazil, Chile, Colombia, the United States, Guatemala, Mexico and Paraguay met with Peruvian startups and venture capital funds dedicated to technological development to evaluate investment opportunities during the 4th High Technology Investment Meeting organized by the Commission for the Promotion of Peru for Export and Tourism (PROMPERÚ).
The event fostered connections between entrepreneurs and potential foreign investors through rounds of business meetings in which representatives of Peruvian startups and venture capital funds explained their business models, the performance achieved and the potential they have in order to obtain capital injection.
With this action, PROMPERÚ's goal is to position the country as an attractive destination for foreign direct investment in the high technology sector and to promote the growth of the national entrepreneurial ecosystem of technology and innovation.
"In recent years, Peru has established itself as a destination country for foreign direct investment in the high-tech sector because it has a solid ecosystem of entrepreneurship and innovation. There is a thriving business network that is gradually becoming more sophisticated, made up of universities, incubators, accelerators, impact investment funds, corporate actors and business groups that form and foster startups. Likewise, our country offers investors macroeconomic stability, supported by its fiscal and monetary policies, and legislation that promotes and protects investment," stated Daniel Córdova, Director of the Investments Promotion at PROMPERÚ.
The 4th High Tech Investment Meeting was held as part of Lima Tech Week 2024, one of the most important events in Peru's technology and entrepreneurship calendar, which brought together industry leaders, entrepreneurs, investors and professionals, both local and foreign, to explore the latest trends and developments in technology and innovation in the entrepreneurial ecosystem of the Peruvian market.
During the first day of the event, 35 Peruvian startups - from the Fintech, Foodtech, Edtech, Future of work, Construtech, E-commerce and SaaS subsectors - met with 18 foreign venture capital funds aiming at getting them to invest in their ventures.
On the second day, 9 national venture capital funds, which constantly invest in technology ventures in the Peruvian market, held meetings with 7 international limited partners in an effort to obtain additional financing.
Foreign investment in the Peruvian High Technology sector
Between 2004 and September 2024, USD 427 million of foreign direct investment was registered in the High Technology sector in Peru through 121 projects executed by 112 companies. This investment generated an estimated 7507 direct jobs in our country.
During this period, the countries with the largest investments in this sector in Peru were the United States (USD 80.6 million), Spain (USD 78 million), Argentina (USD 59 million), Chile (USD 50.5 million) and Costa Rica (USD 30.9 million).
The subsectors with the highest number of registered projects were software publishing (60 projects), custom programming services (32 projects), internet publishing and web search (22 projects) and video games (5 projects).
To know more about investment opportunities in Peru, visit https://investperu.peru.info/en-us/
The Commission for the Promotion of Peru for Exports and Tourism (PROMPERÃ) is an entity under the Ministry of Foreign Trade and Tourism of Peru and the body responsible for formulating, approving, executing and evaluating strategies and plans for the promotion of Peru's image in tourism, exports and foreign direct investment in the country.
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