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Home » Bitcoin startup accelerator came to El Salvador to invest $3.5 million

Bitcoin startup accelerator came to El Salvador to invest $3.5 million

StartupBootcamp (SBC) funding program arrived in El Salvador with the idea of ​​selecting 30 emerging companies from the Bitcoin and tourism industries, among others, to accelerate their growth.

SBC Chief Investment Officer Joey Moreau reported that the European company, founded in Denmark in 2010, now has a global network of mentors, partners and investors offers support in scaling startups from different industries.

Attracted by Bitcoin’s ecosystem-friendly regulation, StartupBootcamp is located in the Central American country a $3.5 million investment fund to boost Salvadoran startups.

All selected startups must focus on offering functional solutions Address specific issues in the blockchain industryWeb3, financial technology and energy.

In the same way, they will classify the companies that provide services with applied technology in tourism, agriculture (Agritech), food (Foodtech) and real estate (Proptech). review Media in El Salvador.

Like the signature details in his websiteThe funding program focuses on startups from different industries, operating in several European countries and the rest of the world. And in Latin America, it supports more than 30 fintech projects, including companies from Mexico.

“Beyond FinTech, the program is also open to startups with innovations in AI (Artificial Intelligence), Big Data, RegTech (technology with a focus on regulation), security, blockchain and IoT (Internet of Things) that can be customized for financial and insurance customers,” the company adds.

El Salvador, a technology hub for Latin America

As Joey Moreau pointed out, El Salvador is on the way to becoming a technology hub for the region. Not only because of its favorable regulatory environment for the development of blockchain projects, but also because of investment programs like those of StartupBootcamp that will do so “It will have an impact on the entire Central American region in the medium term.”

“With the company, we aim to enter the market to play an important role in growing the ecosystem of technology companies that need investors, mentors, experts and talent to grow with them,” added Moreau.

The manager appreciates that the startup acceleration program could start in El Salvador later this year, after the selection processes of the technology companies concerned have been completed.

The program includes growth strategies for startups as well as support in marketing the products or services of their already consolidated companies.

As CriptoNoticias has reported in the past, Minister of Economy María Luisa Hayem, El Salvador, took the first steps in a transformation process would make it the technological center of Central America. All of this is part of the transformation the country is experiencing since bitcoin became legal tender on its territory.

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