The first Argentinian Forum of Investment was carried out on Wednesday, November 29th, in the Autonomous City of Buenos Aires. The event was promoted by the Asociación Argentina de Capital Privado, Emprendedor y Semilla (Argentina Association of Private Capital, Entrepreneur and Seed, Arcap, by its Spanish acronym) together with the National Ministry of Production and the Secretary of Entrepreneurs and SMEs. In this context, CITES obtained one of the three franchises as Scientific Accelerator in the National Acceleration Funds Program belonging to the National Ministry of Production.
This program aims at strengthening the operation of scientific accelerators which invest in new technological entrepreneurships and it accompanies them on their business development in initial stages of growth and consolidation. Through the obtained franchise, CITES will carry out joint investments with the State intended for new, high impact, scientific-technological base businesses, with the objective of contributing with the development of the Argentinian entrepreneur and business environment.
The fact that we were given a franchise within the Program of Scientific Accelerators of the Secretary of Entrepreneurs and SMEs, means that CITES has the opportunity of managing USD 6 million to invest in 20 new startups in the next four years. This funding boosts our plans of investing in 32 new startups up to 2021.
The vent, which had the participation of the President of the country, Mauricio Macri, together with four national ministries (Francisco Cabrera representing Production, Lino Barañao representing Science and Technology, Luis Etchevehere representing Agricultural Industry and Alejandro Finocchiaro representing Education), was attended by the main references of the private capital industry, regional associations, institutional investors and government entities. The aim was to discuss over current and future investment opportunities, macro-economic trends, current estate of the environment and the development of the sector in regional, national and global levels.
This new achievement is an excellent and auspicious opportunity to continue positioning ourselves as the leading scientific-technological accelerator and incubator of the entrepreneurship environment within the region.