In order to anticipate to the negative effects on entrepreneurs / startups as a result of the COVID-19 pandemic, a preferential credit line has been designed to maintain the liquidity of these companies while overcoming the current situation.
- Term: Up to three (3) years.
- Period of grace to capital: Up to six (6) months.
- Amortization of capital: Monthly, quarterly, or semi-annual payments.
- Use of resources: Working capital. Raw materials, supplies, payroll and other operating costs and expenses. Additionally, the resources may be used to generate liquidity by improving the financial conditions of the company's existing liabilities, except for liabilities with partners or shareholders.
- Maximum amount per company: Up to one hundred million Colombian pesos (COP 100,000,000).
The funds are made available through elegible banks, financial corporations, financing companies, financial cooperatives, fintech, financial sector NGOs, savings and/or credit, contribution and credit or multi-asset cooperatives, compensation funds, employee funds and other national intermediaries with positions in Bancóldex.
iNNpulsa Colombia has also been working on other fronts:
A. LANDING PAGE to identify and make visible the enterprises/startups that offer solutions, products or services in 4 major sectors:
- Health and/or telemedicine services
- Home office
- Technological solutions
- Provision of services and basic products
B. CHALLENGES FOR INNOVATORS & ENTREPRENEURS
iNNpulsa Colombia made an alliance with Interacpedia, Connect Bogotá and 100 Open Startups focused on finding innovative solutions to some of the main challenges posed by the COVID19 pandemic, to find solutions for five specific challenges:
- Challenge 1 - Services for the elderly without leaving home
- Challenge 2 - Assistance to mitigate domestic violence
- Challenge 3 - Optimizing the use of medical services
- Challenge 4 - Income flow for restaurants, hotels and bars
- Challenge 5 - Responsible consumption considering COVID-19
The country´s entrepreneurs were invited to present projects on any of these fronts.
C. MINDSET & CULTURAL ACTIVITIES
To inspire and sensitize entrepreneurs through the promotion of values and behaviors favorable to the innovation culture. Also, to enhance the skills of entrepreneurs using different tools that take their ideas and businesses to the next level.
The face-to-face activities were adapted to virtual formats so that all entrepreneurs can access them from their homes.
iNNpulsa Colombia created different workshops in areas such as:
- Innovation in times of crisis
- Stages of entrepreneurship
- Creative skills for product improvement
- Business acceleration