Investments in El Salvador announced for startups linked to Web 3, blockchain and fintech, among others


StartupBootcamp (SBC), a global firm dedicated to supporting and accelerating technology startups around the world, has shown interest in  El Salvador  as a starting point for its expansion in the Central American region.


The information reviewed by the digital media on July 24, indicates that the global firm plans  invest  up to USD 3.5 million in  startups  salvadorans, in order to promote the development of up to 30 emerging companies dedicated to various technological areas.


The selection of these startups will be made through a general call, and those focused on solving specific problems will be prioritized. The firm believes that the country has the potential to become a technology hub in the region, and this initial investment could open the door for future expansion into other countries.


Areas of development SBC is eyeing include  Web 3.0 based technology  blockchainfintechenergy , travel and tourism, agritech and foodtech, as well as sector-focused proptech  real estate .


The acceleration and support program for startups will be carried out in three phases, seeking to boost their growth and provide support for the commercialization of products and services.


StartupBootcamp has been successful in accelerating 1,494 startups worldwide, with average financing of 1.5 million euros and the generation of more than 6,600 jobs in the technology sector.


In addition to the firm's direct investment, it has the financial backing of external investors, including international banking institutions and large multinational companies such as  VodafoneMicrosoftGoogle  and Airbus Group.


The support program for startups in El Salvador is expected to begin at the end of this year, opening a new path for technological development in the region.


The information and/or opinions expressed in this article do not necessarily represent the views or editorial line of Cointelegraph. The information presented here should not be taken as financial advice or investment recommendation. All investment and commercial movement involve risks and it is the responsibility of each person to do their due research before making an investment decision.

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