Peruvian Youth Entrepreneurship Soars: New Contest Offers Funding and Training
A new initiative aims to bolster the growing number of young entrepreneurs in Peru, offering significant financial rewards and educational opportunities. With nearly 40% of Peruvian youth already engaged in entrepreneurial ventures or planning to launch one, according to a recent international study by Datum, the country is witnessing a surge in innovation and self-employment.
A Nation of Startups
Peru is experiencing a remarkable wave of entrepreneurial activity, particularly among its younger population. From ventures leveraging social networks and delivery services to innovative brands in clothing, food, and digital services, young Peruvians are increasingly choosing to create their own economic opportunities. This trend reflects a dynamic shift in the country’s economic landscape, driven by ambition and a desire for independence.
“Entrepreneur” Contest Launched to Fuel Innovation
To further cultivate this entrepreneurial spirit, Radio Moda and Zegel, the country’s leading business and entrepreneurship school, have jointly launched the “Entrepreneur” contest. Open to individuals aged 18 to 30 across Peru, the competition seeks to identify and support promising business ideas. Participants can submit their applications by completing a form available until July 25th.
The contest offers substantial prizes designed to provide a strong foundation for success. The first-place winner will receive S/ 5,000 in cash, along with a diploma from Zegel, enabling them to implement their business project or scale an existing one. The second-place recipient will be awarded S/ 3,000 and a diploma, while all semifinalists will gain access to exclusive benefits and study opportunities at Zegel.
Addressing the Capital Gap
According to a representative from Zegel, the contest is specifically designed to address a critical challenge faced by many aspiring entrepreneurs: access to financial capital. “Many young people have ideas with future, but need financial capital to start their business or make it scalable,” the Zegel official stated. “It doesn’t matter if your entrepreneurship just begins: the important thing is that it has purpose and potential.”
The application process is entirely free and accessible to all citizens of Peru, removing financial barriers to entry and encouraging widespread participation.
Finalists to Pitch to Expert Jury
The three finalists selected will have the opportunity to present their proposals to a panel of expert judges who will determine the ultimate winners. This provides a valuable platform for young entrepreneurs to showcase their vision and receive feedback from industry leaders.
The contest underscores a growing national commitment to fostering innovation and empowering the next generation of Peruvian business leaders.
