Peru is actively enhancing its technology startup ecosystem by engaging foreign investors, a move that underscores its ambition to become a leading innovation hub in Latin America. The Commission for the Promotion of Peru for Export and Tourism (PROMPERÚ) recently hosted the 4th High Technology Investment Meeting during Lima Tech Week 2024, creating a platform for 25 foreign investment funds from nine countries to connect with Peruvian startups. This event is a testament to Peru's commitment to fostering a vibrant entrepreneurial ecosystem supported by a network of universities, incubators, and accelerators.
Daniel Córdova, Director of Investments Promotion at PROMPERÚ, highlighted Peru's emerging appeal as a destination for foreign direct investment in the high-tech sector. The country's macroeconomic stability and favorable investment legislation were cited as key attractions. The meeting facilitated interactions between 35 Peruvian startups across various subsectors, including Fintech and Edtech, and 18 foreign venture capital funds, alongside discussions between national funds and international limited partners for further financing.
Between 2004 and September 2024, Peru attracted USD 427 million in foreign direct investment in the high technology sector, creating over 7,500 direct jobs. The United States, Spain, Argentina, Chile, and Costa Rica have been the leading investors, with significant projects in software publishing and internet services. This strategic focus on technology startups is part of Peru's broader economic diversification strategy, aiming to generate high-skilled jobs and enhance global competitiveness.
The implications of Peru's efforts extend beyond immediate economic benefits, promising knowledge transfer, access to global markets, and a stronger innovation ecosystem. As Peru continues to attract foreign investment, the potential for sustained economic growth and technological advancement positions it as a model for other developing nations. The success of initiatives like the High Technology Investment Meeting could redefine Peru's role in the global digital economy, offering new opportunities for investors and entrepreneurs alike.
