Both projects are developed in San Francisco, Petén, and the one who is currently taking the workshops seeks to impact his community by diversifying agriculture, generating employment and contributing to malnutrition by promoting the consumption of taro and with a social part that he hopes to implement at the same time. get financing.
Godínez learned regarding these incubation and acceleration programs on the social network Facebook, where he saw a training opportunity through a full scholarship that has offered him technical training to shape his projects with the aim of seeking financing.
He currently has a mentor who, online, has guided him to achieve his goal, as well as export his products to the United States (USA).
This case illustrates that of thousands of Guatemalans who have learned regarding these opportunities and have taken advantage of them to finish designing their venture or promote it.
Difference between incubator and accelerator
Both incubators and business accelerators fulfill the same objective, to strengthen and guide businesses, the difference is in their stage.
They can access incubation ventures with 6 to 42 months of existence, that are in the start-up phase:
- Those seeking to open the market
- Define your business plan
- Formalize
- Business opportunities
- Initial financing opportunities to start your operation
This was explained by Herbert Mendoza, expert in entrepreneurial development and program manager for Latin America at the Bridge for Billions incubator. Who compared the incubation of businesses, as is done with a newborn baby, to strengthen it so that it grows.
In what Lucía Barreda, director of the Business Development and Innovation Center of the Prodetur accelerator, agreed, “the idea of entrepreneurship is practically being incubated,” she commented, indicating that sometimes entrepreneurship is only at the level of an idea.
He added that at this stage, many stay because some are ventures out of necessity or survival, unlike ventures out of opportunity that seek a solution to a problem, which are usually the ones that stand out.
On the contrary, in accelerators the process changes because they work with already established enterprises or micro, small and medium-sized businesses (MSMEs) with an existence of more than 42 months, that generate constant, monthly and annual sales, as well as employment and that seek business opportunities in another stage of growth.
According to Mendoza, the idea is to prepare established businesses or MSMEs to receive investment capital and become more solid companies. Most accelerators have their own investment fund or are linked to them.
In summary, Entrepreneurship incubation helps prepare to open the market and accelerators prepare to receive investment capital. Furthermore, incubation lasts between 3 to 6 months and acceleration, minimum 6 months and depending on each case it may extend a little longer.
Offer in Guatemala
The interviewees commented that in Guatemala there is a wide range of incubation services offered from universities to foundations, NGOs, social enterprises, business chambers, savings and credit cooperatives that offer entrepreneurial development programs in the incubation phase.
However, in acceleration the offer is smaller, because the number of established ventures is smaller in the country. However, there are at least 4 acceleration programs in Guatemala.
Mendoza explained that the vast majority of these development programs entrepreneur are free because, normally, there is always a sponsor or a cooperation agency that supports the funds of the organizations that are committed to economic development and that provide these programs.
He indicated that With accelerators it may happen that the service has an entry cost, However, it is to affirm the commitment of the entrepreneur and avoid desertion.
Who can access
Both interviewees agreed that these programs seek to support a certain entrepreneur profile, vulnerable groups such as women, young people, migrants or specific sectors such as agriculture, sustainability or energy, “fashion sectors” or those of greatest need or high growth.
Herbert Mendoza, expert in entrepreneurial development and program manager for Latin America at the Bridge for Billions incubator, explained that in the specific case of acceleration, it is common for them to seek to make impact investments that have to do with social, environmental and governance models. responsible.
As well as ventures that have to do with renewable energy, sustainable agriculture, water and sanitation, or some similar sectors that generate a positive impact on society or the environment, or some technology.
Recommendations to take into account
The interviewee recommended to the entrepreneur:
- Have clear information and ask questions: What profile are they looking for, what are the processes, modules, time period, if there is a cost, if it is online or in person for the mobility issue to maintain consistency in the program, if it has any connection with business, investment or financing opportunities.
- Ask other entrepreneurs or investigate the organizations that are developing the program.
- Before looking for an entrepreneurial development program, identify what stage the venture is in.
- Be aware of what to expect from each program. Although many entrepreneurs seek financing, you must know if prior to this step you need to generate sales, impact, or market opportunities.
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