Global Entrepreneurship Network releases road map to boost economic growth
Recommendations come as policymakers, investors, founders and support organizations meet in Puerto Rico.
The Global Entrepreneurship Network (GEN) released seven targets and 35 recommendations to support policies and programs that leverage entrepreneurship to boost economic growth and job creation across Latin America, the Caribbean and Latino/a communities throughout the United States.
The recommendations were presented as hundreds of policymakers, investors, founders and entrepreneur support organizations met at GEC+Puerto Rico in San Juan last week to explore an ambitious road map for a more vibrant and thriving economy by 2035.
The recommendations, compiled in “Vision 2035: An Entrepreneurial Future for Latin America and the Caribbean” were developed leading up to GEC+Puerto Rico and during dozens of the event’s working groups, panels and workshops.
“Gathering the region’s builders and backers in San Juan has provided an opportunity to put to paper a road map of policies and programs to ensure Latin America and the Caribbean has a clear but ambitious 10-year vision for leveraging talent for entrepreneurial growth and development,” said Jonathan Ortmans, president of the Global Entrepreneurship Network.
The recommendations focus on maximizing the availability and impact of new technologies across the region and encourage policymakers to prioritize four high-potential sectors: deep tech, generative artificial, cleantech and agritech.
Recommendations include:
- Rapidly scale investment in R&D to reach a target of 3.5% of gross domestic product by 2035.
- Enable safe experimentation for startups through regulatory sandboxes in at least half of the countries in Latin America and the Caribbean (LAC) by 2035.
- Introduce new tax incentives for startup investment in at least half of LAC countries by 2035.
- Increase the number of LAC ecosystems featured in the Global Startup Ecosystem Report – research and rankings by GEN and Startup Genome – by nurturing ecosystem links and fostering collaboration between key economic development organizations.
- Establish tailored visa programs for talented entrepreneurs in at least half of LAC countries by 2035.
- Implement “Startup Acts” or entrepreneurship focused legislation in at least half of LAC countries by 2035.
- Embed entrepreneurial education in the school curriculum in at least half of LAC countries by 2035.
