ANNOUNCEMENTS

Dominican Ecosystem Report: Building a Startup Nation

José Checo | July 07, 2016
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We are proud to report that the Dominican Republic made great strides over the first few months of 2016.

Acceleration Program ALPHA

First Pre-Acceleration Program: This program is dedicated to projects in the Dominican Republic that seek to introduce the best projects and innovative startups in an intense program, in order to encourage them to become a successful, productive enterprise and increase their growth exponentially.

For ten (10) weeks, it provided the participants selected a space suitable for work, to foster creativity as well as provide advice and general training, through lectures and workshops, taught by professionals and coaches highly trained in the following areas:

1. Cycle Model
2. Value Proposition
3. Business Model
4. MVP
5. Customer Validation
6. Sales and Marketing
7. Practice Pitch
8. Finance
9. Financing and Investment

The selected projects were: AlimSports, Artisla, DoSessions, Golden Tree Investment, Multipliers, Pensare, Piknikas, Rifalia, Within DR. At the end of the program, the Piknikas team was awarded an injection of capital equivalent to USD $ 20,000.

Workshop Action Plan of the National Network of Entrepreneurship

The United Nations Conference for Trade and Development (UNCTAD) by the MIC, invites us to participate in the workshop "Strengthening actions Entrepreneur Ecosystem: Action Plan 2016-2017.” The format is fully participatory and the goal is to land everything that is running on the network through the framework developed by UNCTAD and already been implemented in several countries.

It was a very good opportunity to strengthen our initiatives with the support of United Nations and prestige that entails. This workshop was held on 11 and 12 March at the Holiday Inn, during the day Friday from 8 a.m. to 5 p.m., and Saturday from 9 a.m. to 1 p.m.

Launch Social Entrepreneurship Program with Cives Mundi

Caribbean Hueco Starter is a call for national social entrepreneurs to present their business ideas as part of a process where they will receive training, expert assistance and will have access to seed capital.

It is a program to promote social entrepreneurship in the Dominican Republic and Haiti funded by the ERASMUS + program of the European Commission. It is part of the first program promoting the social and rural entrepreneurship in the nation, the initiative aims to increase the capacities of vulnerable young people, their organizations, universities and NGOs, to develop social entrepreneurship in the country and the neighboring nation.

 Eco Mensajeria Project traveled to London to represent Rep. Dominicana in The Venture

ECO Mensajeria Won Competition "Chivas, The Venture"

The entrepreneur Edison Santos and his team of Eco Messaging were the winners of "Chivas, The Venture" and it represented Dominican Republic in a week of acceleration at the University of Oxford in the UK and will at the Grand Final in New York next July.

Eco Mensajeria is a sustainable mobility service, which makes a timely delivery of documents using an electric fleet without emission of C02 and makes a promise of “a better world in each delivery.”

The four finalists who were part of this program, were Rocket additive with its bio-fuel additive for motorcycles; AIME (Artificial Intelligence in Medical Epidemiology) with its artificial intelligence program and epidemiological research to provide public health agencies tracking epidemics before they happen; Dominican Labs ambrosia that seek to build the infrastructure first crop of macro algae as a sustainable industry; Green Car Wash promises washing, waxing, buffing and protecting your vehicle with only 8 ounces of product and in less than 15 minutes, without using water.

Kikaboni Project represents Dominican Republic in regional Get in the Ring

The Ministry of Industry and Commerce (MIC) reports that entrepreneurship KIKABONI be the project that represents the country in the competition Get in the Ring. The Regional Final of GITR will be on February 4 this year in Mexico City. The MIC was the official organizer of this competition which was conducted between October and November in two finals. The KIKABONI winning project was presented by the entrepreneur Gian Luis Pereira. The winners were awarded the tickets and lodging in Mexico City where they will compete against the countries of the region. If winner in the Regional Final, KIKABONI would participate in the Global Final in March with six other winners of the world.

Kikaboni Project becomes the first Dominican project matching IDB fund

Kikaboni was the first enterprise approved by the Seed Capital Fund (FCS). With a total of US $100,000 on the first contribution FCS Dominicanos to finance projects it materialized. Young entrepreneurs Gian Luis Pereyra and Arturo Pereyra, company representatives, produce natural food with high nutritional value, obtained a co-investment of US $100,000 by members of Enlaces, Network angel investors in the Dominican Republic last September 2015 and they have now won approval of funding by the FCS for another US $100.000

Consejo Nacional de la Empresa Privada (CONEP) launches DominicanaEmprende

As a media platform to promote entrepreneurship mentality and culture, CONEP launched a platform that aims to connect experienced entrepreneurs and to promote discussion and promotion of a Bill Entrepreneurship and Business Innovation to be approved in line with current requirements. This encourages new initiatives, to create a coordinated council through an executive secretary that permanently encourages public-private participation, to promote entrepreneurship culture and the articulation of the National Network of Entrepreneurship, with private financing, to develop a short-term strategy in order to improve access to private capital and management of technical resources, and also searching for best practices for business cooperation, universities and public opinion.

Launch TIC Americas program

The YABT in partnership with BanReservas, produced this year the first national edition of ICT Dominican Republic with the purpose of recognizing the Dominican entrepreneurial talent internationally, with particular emphasis on young Dominicans abroad who are interested in starting or developing a solution innovative in his native country. The rules and general terms and conditions of TIC Dominican Republic are available in www.ticamericas.net/reglas.php

Opening Coffice.Do

Coffice.do recently opened for the entire entrepreneurial community a collaborative workspace that joins the offer we have so far in Santo Domingo. For more information about events, space, COfficeTalks info@coffice.do write to or visit the http://coffice.do/

Enlaces launches with Barna Business School a graduate program for Investment Readiness

The course "INVESTMENT READINESS 2016" is the training program for Dominican entrepreneurs to address the main aspects that must be met to accept a venture investment for the development and expansion of your business. It was the first of its kind and had the sponsorship of CREE Banreservas, Enlaces, Alpha Valores and Barna Business School. The training provided the networking with professionals that have been working on Startup Investment in the last couple of years.

The program gathered 53 entrepreneurs, which shows the increasing interest in developing startups as a career path, and the recognition of the needs of a correct formulation of a project, especially in the finance area, to be able to call the attention of investors.

Launch of the first Startup Weekend in Santo Domingo East Province

The Startup Weekend at Santo Domingo East Province opened for inscriptions with an excellent group of mentors and judges. This is the first edition held on the East province, and the location is the first Community college of Dominican Republic, that opened in 2012 and it is focusing on the promotion of entrepreneurship among students and is becoming a strong partner for the local community.

The event was held on April 29 - May 1, 2016, with the participation of 55 entrepreneurs, 45 of them pitching on the first night. Facilitated by Miguel Angel Figueroa Calsina, International Director of Novus Foundation. With over 20 mentors, this event showcased the increased growth on the entrepreneurial awareness in the Dominican Republic.

Care Model Workshop for Entrepreneurs, 22 to 26th February, 2016

The workshop Transfer of Care Model for Entrepreneurs in the Centers for MSMEs is a meeting in the interest responds to regional interest in expanding care services available to entrepreneurs from the support industry, academia, different actors of the national entrepreneurial ecosystem and especially from the Centers of Integral Support for SMEs (SBDC).

This is an initiative of the Ministry of Industry and Commercial supported by the Regional Center for the Promotion of Micro and Small Enterprises (CENPROMYPE) of the Central American Integration System (SICA), supported by GIZ. The workshop took place from 22 to 26 February 2016.

The first version will be launched for up to 35 entrepreneurs and it will provide nonrefundable funds of US $7,000 for each project assisted, through several partners of the Dominican ecosystem and the SBDC centers of the Dominican Republic.

Photo credit: Flickr

José Checo
Father of four, curious, enthusiastic, teacher. In over 25 professional career I have accumulated experience in business management development.... About the Author