Bolivia's entrepreneurial ecosystem is growing rapidly. In 2020, it counted more than 35 hubs and 9,000 new businesses. According to Mapeo Tic Bolivia, which mapped the tech sector in 2021-2023, the number of growth-oriented digital startups averages around 160 per year with 30 support organizations (that includes around 15 incubators and 10 accelerators). The COVID-19 pandemic led many of its institutions to work together supporting entrepreneurs, which has accelerated technological transformation in Bolivia.
The country's many successful entrepreneurs who include: Mónica Soliz the founder of Arcadia, a company that makes vegan cheeses; Luisa Corani who created an electric quinoa threshing machine; and Rolando Alvarez, the founder of TUINFO, a self-sustaining Wi-Fi hotspot provider.
Nevertheless, many challenges to increasing entrepreneurship in Bolivia remain. These include funding – startups generally lack financial resources and investment; sustainability – new businesses often struggle to generate sustainable revenue streams; and complex bureaucracy and limited access to technology.
Public officials have responded with city level initiatives. Seeking to transform La Paz into a hub of innovation, technology, the city government partnered with the United Nations Development Program (UNDP) to launch the La Paz TEC program. It increases entrepreneurs’ technological capacities through training and workshops in its co-creation spaces.
In Sucre, the city established an alliance with the Federation of Private Entrepreneurs of Chuquisaca, the University of San Francisco Xavier de Chuquisaca, to support the Activate Sucre Foundation, which has coordinated support for the city’s entrepreneur support organizations. As a result, Sucre’s ecosystem has become more dynamic over the past two years, engaging university students, professionals, and producers.
The city of El Alto supports entrepreneurship programs provided by the Public University of El Alto (UPEA). In the cities of Oruro, Potosí, Trinidad, and Cobija, there is notable development in the ecosystem led by universities and non-governmental organizations. Hub Santa Cruz serves as a catalyst for more than 25 public-private entities fostering entrepreneurship in the city, which is now one of the most dynamic in Bolivia. The city hosts Google Developer Groups (GDG), Women Tech Makers, GENERA KNOW, Startup Weekend, Founders Institute, and the Bolivian Association of Entrepreneurs.
Global Entrepreneurship Network in Bolivia
GEN Bolivia emerged from the collaboration of 20 institutions and universities across the country. FUNDA PRO led by Miguel Hoyos, Fundación Trabajo Empresa, MAYA, AVINA, FAUTAPO, EMPRENDER, and others joined forces to share knowledge, increase cooperation, and coordinate support for entrepreneurs.
Among GEN Bolivia’s initiatives, the Entrepreneurship World Cup (EWC), a global competition for entrepreneurs at all stages of business development, has given Bolivian entrepreneurs a global platform and access to valuable resources such as mentorship. Notable Bolivian startups that participated include:
- Blink, founded by Henry Medina
- FACIA, led by Hugo Córdoba
- Mammut, led by Manuel Laredo, has expanded to Paraguay and Mexico
- Pedidos Pet, founded by the Andres and Juan Javier Estenssoro, reached the semifinals and has since expand to Paraguay
- PasanaQ (Sommos), founded by Diego Rojas, is now operating in Perú and the US
- SOS Agro, led by Víctor Iván López
- TuGerente, led by Francisco Javier Román
- Vaka, founded by Ariel Valverde.
GEN Bolivia has driven various other initiatives now integral to the entrepreneurial ecosystem. For example, the formation of HUB Santa Cruz has led to over 35 institutions shaping and leading ecosystem activities. The Google Developers Group (GDG) and the Bolivian Entrepreneurs Association also originated with GEN Bolivia and it supported the accelerator Seedstars, which has fostered many startups including CREOTEC (2020), Elemental (2019), and Panal Fresh (2018).
For students and youth groups, GEN Bolivia operates "Emprender es Crecer" in 10 cities, which connects young people with successful entrepreneurs who share their experiences about pursuing entrepreneurship. Global Entrepreneurship Week, which occurs around the world every November, has engaged more than 2,300 young Bolivian entrepreneurs.
