Start Up Peru

Start Up Peru sources exclusively through public, open-call competitions managed via Innovate Peru. Ventures submit applications during annual or semi-annual cycles, and selection is conducted through independent evaluation panels composed of academics, entrepreneurs, and industry experts. The process is designed to be meritocratic and regionally inclusive, drawing from Peruvian tech hubs beyond Lima.

The program primarily deploys non-reimbursable co-financing grants, meaning it does not take equity or board seats in most cases. Capital is conditional on matching contributions from the founding team, typically a percentage of the total project cost. This non-dilutive structure distinguishes it from commercial venture funds and is intended to support entrepreneurs without altering their cap tables.

Start Up Peru is funded through the national budget under Innovate Peru, which falls within the Ministry of Production. The program was launched in 2013 with support from the Inter-American Development Bank and has been sustained through successive government administrations. Budgets are allocated annually by Congress, meaning funding levels can vary with political priorities.

The program targets pre-seed and seed-stage ventures, with funding typically capped near $50,000 per startup. It supports idea validation, prototype development, and initial commercialization. In more recent cohorts, specialized tracks have been introduced for higher-growth technology ventures and social-impact enterprises, allowing for differentiated grant sizes and mentorship support.

Start Up Peru is explicitly designed for Peruvian founders and ventures incorporated in Peru. The program's mandate is to develop domestic entrepreneurial capacity and local technology ecosystems. Foreign entrepreneurs seeking Peruvian market access would need to partner with local co-founders or establish a Peruvian subsidiary to qualify.