Municipality of Quito will allocate $713,000 of seed capital for ventures

From this Friday, March 18, 2022, the stage of call for entrepreneurs who will have an amount of seed capital granted by the Municipality of Quito through the ConQuito Economic Promotion Corporation.

The requirements to participate in this call are on the corporation’s website.

This competitive fund will be divided into three axes: productive, sustainable and innovative. In total they foresee benefit 63 projects with different business ideas.

This is how the types of entrepreneurship are divided:

• Productive Quito: ideas focused on processed foods, textiles, tourism and cleaning services will receive $5,000 for a prototype project and $7,000 for start-up.
• Sustainable Quito: recycling, reuse and remanufacturing projects will have a fund of $10,000 for a prototype and $25,000 for start-up.
• Innovative Quito: technological projects, govtech, biofuture, health, logistics and creative economies. These ideas will have $25,000 for a prototype project and the same value for start-up.

According Henry Crespo, director of ConQuito, in a previous call it was gave funds to 112 projects winners of 2,500 contestants. The investment was $450,000.

Mayor Santiago Guarderas attended the launch that took place at the Center for Contemporary Art, in the center of Quito.

“We have set out to promote the development of a innovative, competitive, diversified and supportive economy that provides well-being to the entire population through the generation of employment and entrepreneurship,” said Guarderas. (I)