The Startup Ecosystem of Peru

Startup founders have room to innovate and scale up with the relatively low competition, and the country has solid relationships not only within Latin America, but also with the EU, Canada, and China. On the other hand, since Peruvian startup ecosystems are still developing, the country lacks entrepreneurs experienced in scaling startups; once this changes, the ecosystem will grow further.

The country has come a long way in improving its infrastructure but there is still room for reform, legislation, and improvements in executing policy. The government realizes that startups are critical for the future, and initiatives like StartUp Perú and ProInnóvate support local entrepreneurs. In addition, the Peruvian Seed and Venture Capital Association (PECAP) promotes venture capital investment in the country from both local and foreign sources. Another notable initiative, Emprende Up, is the accelerator at the University of the Pacific that offers a 6-month-long incubation program to scalable startups. Peru is still lagging behind leading Latin American countries in terms of innovation and growth, and the public sector involvement will be critical to make sure to narrow those gaps.