Produce will finance entrepreneurs up to S / 140,000: how to apply for the contest?

The Ministry of Production, through the ProInnóvate program, launched the seed capital competition for entrepreneurs StartUp Peru. In this way, Produce will grant from S / 50,000 to S / 140,000 for business projects that seek to accelerate the market entry of an innovative product or consolidate its growth locally and globally.

The contest has two categories of co-financing. The first is about entrepreneurship for innovators and offers a fund of S / 50,000 to individuals and companies that already have a minimum viable product with traction and seek to accelerate the validation and development of a commercial product for entry into the market.

Meanwhile, the second is dynamic ventures and provides a fund of up to S / 140,000 to startups with one to five years of creation, which have a product with sales, in order to accelerate their growth in the market.

Both funds are non-refundable, that is, they are not returned to the State. ProInnóvate projects a total investment of S / 11 million to benefit more than 100 startups from all regions.

What are the requirements to participate in StartUp Peru?

Innovative entrepreneurship category

• To be over 18 years old
• If you are a company, you must have a maximum of five years of creation and have RUC
• StartUp Peru does not co-finance business ideas. To apply, you must have at least one minimum viable product, that is, a prototype with the main functionalities, which has been tested with potential customers or users and has shown signs of interest.
• You can check the requirements HERE.

Dynamic entrepreneurship category

• Applicants must be startups or young companies that have a minimum one year and maximum five years registration in the RUC.
• Have sales greater than S / 120,000 (not including VAT) during a consecutive year between 2019 and 2020.
• You can check the requirements HERE.

Additionally, to the fund granted, the program will provide between S / 5,000 and S / 10,000 for the accompaniment of an incubator or accelerator of the ProInnóvate network.

To date, ProInnóvate, through StartUp Peru, has co-financed more than 540 projects, with an investment of S / 50 million.