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How does the program work?

"Strategy EEI2020" includes objectives for every area of the ecosystem. However, in order to accomplish them it is necessary to design a concrete plan of action. For this reason, the Alliance for Entrepreneurship and Innovation, as a first step, identified the activities with impact generation potential to enhance them under parameters of coordinated work. This will allow the construction and launching of a formal action plan.

Eligibility

Strategy EEI2020 purpose is to accelerate entrepreneurship and innovation in Ecuador through supporting Start-up and scale-up firms less than 5 years old and that have the following characteristics:

  • Innovative
  • High growth potential
  • Job generating
  • Opportunity to expand to international markets
  • Increasing annual sales (greater than 50%)
Timeline

In October 2014, the Alliance for Entrepreneurship and Innovation of Ecuador (AEI), a public, private and academic organization devoted to improve the conditions for entrepreneurs and innovators in Ecuador, launched the "2020 Strategy for an Entrepreneurial and Innovative Country" following months of work of collective alignment with stakeholders. 

Since 2020 is around the corner, the idea is to update the document and connect with global 2030 Sustainable Goals.  The EEI2020 constitutes the center of the activities that AEI carries out for the development of Ecuador’s entrepreneurial and innovation ecosystem.

 

Monitoring + Evaluation Methods

Goals for 2020:

  • New formal innovative start-ups and scale-ups created: 349
  • New employment sources: 2916
  • Research and Development investment (I+D+i) from private enterprises: US$52,000.000
  • Local sales: US$9,000.000
  • Exports: US$48,000.000
  • Industry and university collaboration agreements: 110
  • Total beneficiaries from educational entrepreneurship programs: US$175,000
What impact has been measured?

The Strategy has been implemented since 2015, after the Action Plan workshop carried out with the support of UNCTAD focused mainly on the activities carried out by the members of the alliance.

It has also been expanded this practice to other regions of the country: Guayaquil and Cuenca. Each region has its own context; thus, it is important that local stakeholders develop their own regional strategies with their own action plans to enhance their entrepreneurship and innovation local conditions.

Three of the main areas where results have been more evident are:

  • Financing with increase of venture capital from US$3M to US$40M in 5 years.
  • Regulatory framework: law for entrepreneurship and innovation project has been approved at the National Assembly and is under review.
  • Business development services: more than 6 thousand entrepreneurs have been supported by the members of AEI network.
What lessons can be learned?

Feedback & lessons learned:

  • Timeframe was too short in order to accomplish the goals stablished, this is mainly because the global indexes also compile other type of initiatives which are not dependant on the activities from AEI network, it is beyond the members.
  • Lack of real involvement of the different actors.
  • Automatic system needed to be used since the beginning for the easier implementation, monitoring and evaluation.
  • Government involvement is very important to massify initiatives in the whole country.
  • Permanent monitoring system is key.
  • Reporting what is happening and how ecosystem is evolving should be sent in real time. 

CURATED BY

Natalia Almeida Suarez

Deputy Director
Alianza para el Emprendimiento e Innovación - AEI
Ecuador