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| Fondo Emprende Perú | |
|---|---|
| Name | Fondo Emprende Perú |
| Type | Public-private fund |
| Founded | 2015 |
| Headquarters | Lima, Peru |
| Region served | Peru |
Fondo Emprende Perú is a Peruvian public-private fund created to support entrepreneurship, small business development, and innovation across Peru. It operates through competitive grants, technical assistance, and partnership networks to foster startups, microenterprises, and social enterprises in urban and rural regions. The initiative coordinates with national and international institutions to mobilize capital, expertise, and market linkages.
Fondo Emprende Perú emerged in the mid-2010s amid regional initiatives linking Ministerio de la Producción (Perú), Ministerio de Desarrollo e Inclusión Social (Perú), Banco de Desarrollo del Perú and private partners such as Interbank, BBVA Perú, Scotiabank Perú and foundations like Fundación Romero, Fundación Telefónica, Fundación BBVA. Its formation drew on precedents including Fondo Nacional de Desarrollo (FONDES) programs, lessons from Startup Peru, and international models like Small Business Administration (United States), Development Bank of Latin America (CAF), and International Finance Corporation. Early pilots referenced projects from Universidad Nacional Mayor de San Marcos, Universidad Peruana Cayetano Heredia, and municipal initiatives in Lima and Arequipa. Key events influencing the fund included reforms under administrations connected to Pedro Pablo Kuczynski, Ollanta Humala, and policy frameworks such as the Ley de Promoción de la Micro y Pequeña Empresa (Perú) and trade agreements like the Peru–United States Trade Promotion Agreement.
Fondo Emprende Perú targets entrepreneurship ecosystems spanning metropolitan hubs like Lima, Cusco, Trujillo, and emerging centers such as Puno and Tumbes. Goals align with national strategies promoted by Agencia de Promoción de la Inversión Privada (ProInversión), Ministerio de Economía y Finanzas (Perú), and regional development plans devised by regional governments including Gobierno Regional de Lambayeque. The fund emphasizes innovation in sectors tied to Peru’s comparative advantages: agriculture and agribusiness (linked to UNOPS studies), tourism clusters around Machu Picchu, creative industries engaging institutions like Ministerio de Cultura (Perú), and export-oriented manufacturing connected to PromPerú and Asociación de Exportadores (ADEX). It also seeks to strengthen incubation networks involving Wayra, Utec Ventures, and university entrepreneurship centers at Pontificia Universidad Católica del Perú.
Eligibility criteria typically reference legal entities registered with authorities such as Superintendencia Nacional de los Registros Públicos (SUNARP), tax compliance with Superintendencia Nacional de Aduanas y de Administración Tributaria (SUNAT), and alignment with development priorities from Gobierno del Perú. Applicants have included startups linked to accelerators like Seedstars, social enterprises partnered with Ashoka, cooperatives registered under Ministerio de Trabajo y Promoción del Empleo (Perú), and community enterprises in collaboration with Programa Nacional PAIS. The application process often mirrors procedures used by Banco Mundial-backed programs: submission of project proposals, business plans reviewed by panels comprising representatives from Fondo Nacional de Garantía de Créditos para Micro y Pequeña Empresa (FONADE), impact assessments conducted with specialists from Organización Internacional del Trabajo, and technical due diligence by consulting firms such as Ernst & Young and PwC.
Funding streams combine seed grants, matching funds, and concessional loans coordinated with multilateral lenders like Banco Interamericano de Desarrollo (BID), Banco Mundial, and grantmakers including Fundación Avina. Instruments have included non-reimbursable seed capital, milestone-based disbursements, equity-like quasi-equity, and guarantee facilities administered in partnership with Fondo MiVivienda and regional development banks. Sectoral windows targeted fisheries linked to Ministerio de la Producción (Perú), agroexport clusters connected to Asociación de Exportadores (ADEX), and creative economy initiatives coordinated with UNESCO programs. Co-financing arrangements engaged venture capital firms such as NXTP Labs and impact investors from networks like Global Impact Investing Network.
The fund’s governance structure integrated representation from national ministries including Ministerio de la Producción (Perú), multilateral partners like Banco Interamericano de Desarrollo (BID), private banking signatories such as Interbank, and civil society organizations including Confiep and Cámara de Comercio de Lima. Administrative functions were often outsourced to program managers—professionalized firms with experience in ProInversión tenders—or maintained within a steering committee modeled after best practices from OECD policy guidance. Oversight mechanisms referenced audit procedures from Contraloría General de la República (Perú) and reporting standards aligned with International Accounting Standards Board recommendations.
Reported outcomes included creation and consolidation of micro and small enterprises in regions such as Cusco and Piura, facilitation of export-ready firms connected to PromPerú trade missions, and growth of incubators at universities such as Universidad del Pacífico. Evaluations by independent consultants and organizations like BID and PNUD highlighted increased formalization rates among beneficiaries, improved access to finance through guarantee schemes with Fondo Mivivienda, and new market linkages via partnerships with Cámara de Comercio de Lima and industry associations. Success stories referenced alumni entrepreneurs who scaled into regional supply chains supplying supermarkets like Wong and Tottus.
Critiques addressed bureaucratic hurdles similar to those identified in programs overseen by Contraloría General de la República (Perú), limited geographic reach beyond urban centers such as Lima and Arequipa, and challenges in measuring long-term impact consistent with standards used by Banco Mundial and OECD. Other concerns cited dependence on short-term donor cycles from Banco Interamericano de Desarrollo (BID) and private sponsors like Fundación Telefónica, potential crowding-out of private venture capital represented by NXTP Labs and angel networks, and operational risks noted in audits with parallels to controversies around subsidy programs in regional administrations including Gobierno Regional de Loreto.
Category:Economy of Peru