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El Salvador’s Entrepreneurial Ecosystem
October 2015
About the Research
According to data from the Global Entrepreneurship Monitor (GEM) 2012, in El Salvador, 15.3% of adults between 18 and 64 years old are early-stage entrepreneurs, 9.4% manage a business that was already established, 24.7% are in some other entrepreneurial stage. Furthermore, 35% of entrepreneurs are entrepreneurs out of necessity (they have no other option); and 39% have become entrepreneurs because they are looking for an opportunity to improve themselves. This runs ahead of the average of Latin American and Caribbean entrepreneurs, where 22% are entrepreneurs out of necessity and 51% are entrepreneurs out of opportunity.
Given the importance of entrepreneurship in the region, the Aspen Network of Development Entrepreneurs’ (ANDE) Central Americaand Mexico Chapter³ developed this study with the following goals:
• Identify organizations that are working in to support entrepreneurs• Identify potential partners for these organizations• Identify where the gaps are for supporting entrepreneurs• Identify where organizations can collaborate to promote entrepreneurship in El Salvador.
With those goals in mind, we designed a questionnaire focused on the following elements:
• Type of organizational intervention• Stage they support• Type of capacity development they offer• Financial support they offer (debt, investment, etc.)• Sector they support• Geographic presence
We would like to thank the 28 organizations that were a part of the first stage of this study, in which we were able to visualize thesupport they offer, which areas are the strongest, and where collaboration is needed to strengthen the entrepreneurial ecosystem. Wewould like to mention that we have included information provided by the participant organizations, this study is not exhaustive, butrepresents a joint effort between ANDE and the organizations involved.
*ANDE is a global network of organizations that propel entrepreneurship in emerging markets. (www.andeglobal.org )
Fin
an
cia
lS
up
po
rtC
ap
acit
yD
evelo
pm
en
t
FUNDEMAS
INSERT
Emprende Inversiones
Francisco Gavidia University
USAID Regional Project for Commerce and Market Alliances
FUSADES
Buffalo Wings
COEXPORT
FUNDES
CONAMYPE
ARTINCELL
Dr. José Matías Delgado University
First Tuesday
IDWEEK
Yo Emprendedor
Sabios y Expertos
Technoserve
Vital Voices El Salvador
BPEACE
Swiss Contact
Catholic Relief
Services
Representaciones
Ideales
HECHO EN CASA
Entrepreneurial Ecosystem in El Salvador
*The organizations of “Financial Support” that are in Green offer financing and capacity development.
El MERCADITO
FOMILENIO
Centro Emprendedor ESEN
Swiss Contact
Sustainable Business and Development Consultant
Stage Idea StartupEarly
Stage
Expansion
Stage
Growth
StageConsolidation
Typ
eo
f S
up
po
rt
Key
Women
Agriculture
Technology
Social
Entrepreneurs
Youth
All
Geographic PresenceP
rese
nce
at
na
tio
na
l lev
el
4
Financial
support
20
Training to
entrepreneurs
17
7
Research
about the
topic
4
What kind of support do they offer?
Support to
conveners
Education on
entrepreneurial
culture
Type of
support
More than two-thirds of the
survey participants in El Salvador
seek to foster entrepreneurial
culture and provide capacity
development to entrepreneurs, a
critical aspect to promote the
development of startups in the
short and long term.
Less than one-third of these
organizations carry out research
on entrepreneurship, which has
the potential to advance
entrepreneurial topics, give space
to develop better models,
processes, and strategies, and
promote the ecosystem in a more
effective way.
Only four organizations provide
financial support, an area that
needs to be developed in the
country.
How do organizations provide these capacities?
N=28
18
16
11
20
11
12
13
0 5 10 15 20 25
Training and Courses
Financial and Accounting Support
Accelerator
Market Research and Analysis
Business Plan and Incubation
Leadership Programs
Mentoring
The main ways that organizations are working to develop capacities are Mentoring and Business Plan
Development/ Incubation, the Market Research and Training. In a lower level we find Leadership
Programs, Financial Support and Accelerators.
Capacity Development
Organization
Business Plan
Development/
Incubation
Market Research
and AnalysisAccelerator Mentoring
Leadership
Programs
Financial &
Accounting
Support
Trainings &
Courses
ARTINCELL
BUFFALO WINGS
Business Council for Peace (Bpeace)
Catholic Relief Services
CONAMYPE
Centro Emprendedor - ESEN
COEXPORT
Consultoría Independiente
El Mercadito
Emprende Inversiones
First Tuesday
FOMILENIO II (MCA-MCC)
FUNDEMAS
FUNDES
FUSADES
Hecho En Casa
IDWEEK
INSERT
Regional Trade and Marketing
Alliances-USAID
Representaciones Ideales
Sabios&Expertos
Sustainable Business and
Development Consultant
Swisscontact
TechnoServe INC
Universidad Dr. José Matías Delgado
Universidad Francisco Gavidia
Voces Vitales El Salvador
Yo Emprendedor
Investment in El Salvador
From the 28 organizations that participated, only
four provide financial support in different
forms: capital, debt in loans and mezzanine, and
other. Only one sixth of the support programs for
entrepreneurs are providing capital, which is
fundamental for the development and growth of a
startup.
In other countries or ecosystems, access to
financial support as well as the right talent are
fundamental to improve and foster growth
venture.
Strengthening investment through joint actions
from capacity developers and investors is needed
to connect entrepreneurs with the new
investors.
Organization CapitalDebt
(mezzanine)Deuda (loans) Other
CONAMYPE
Emprende Inversiones
Representaciones Ideales
Regional Trade and
Marketing Alliances-USAID
3
0
1
0 1 2 3 4
Debt (Loans)
Debt (Mezzanine)
Capital (Equity)
Others
Organization Website
ARTINCELL http://www.artincell.com/
BUFFALO WINGS http://www.thebuffalowings.com/
Business Council for Peace (Bpeace) http://www.bpeace.org/
Catholic Relief Services http://www.crsespanol.org/
CONAMYPE https://www.conamype.gob.sv/
Centro Emprendedor - ESEN https://www.esen.edu.sv/cies/
COEXPORT http://www.coexport.com.sv/
Consultoría Independiente
El Mercadito http://elmercaditoglobal.com/
Emprende Inversiones http://www.emprendeinversiones.com/
First Tuesday http://www.firsttuesday.org.sv/
FOMILENIO II (MCA-MCC) https://www.mcc.gov/where-we-work/program/el-salvador-compact
FUNDEMAS http://www.fundemas.org/
FUNDES http://www.fundes.org/
FUSADES http://www.fusades.org/
Hecho En Casa https://www.facebook.com/pg/hechoencasasv
IDWEEK https://www.facebook.com/pg/IDWEEK.SV
INSERT http://innovacion.cc/
Regional Trade and Marketing Alliances-USAID https://www.facebook.com/USAIDProgramaParaElDesarrolloDeLasPyme/
Representaciones Ideales http://www.repideales.com/
Sabios&Expertos https://www.pum.nl/
Sustainable Business and Development Consultant
Swisscontact http://www.swisscontact.org/es/country/america-central
TechnoServe INC http://www.technoserve.org/our-work/where-we-work/country/el-salvador
Dr. José Matías Delgado University http://http://www.ujmd.edu.sv/
Francisco Gavidia University https://www.ufg.edu.sv/
Vital Voices El Salvador http://www.vocesvitales.org.sv/
Yo Emprendedor http://yoemprendedor.net/
Where can I find more information about the
organizations?
We want to thank all of the organizations that participated in this survey and recognize the
great contribution they make everyday to the entrepreneurial ecosystem in El Salvador.
If you are interested in being part of this map, please fill this survey.
For more information, contact the regional staff of Central America & Mexico ANDE Chapter:
Katia Dumont
Regional Manager
ANDE Central America & Mexico
Email: [email protected]
Rosario Uriarte
Program Coordinator
ANDE Central America & Mexico
Email: [email protected]
Twitter @AndeMexicoCA
http://www.andeglobal.org
About the study of El Salvador’s Entrepreneurial
Ecosystem
