The DINAMICA II Initiative will strengthen the capacities of UNIVO's Business Innovation and Development Center in El Salvador

San Salvador, July 26, 2024.- In order to strengthen the business services provided by the Business Innovation and Development Center (CIDE) of the Universidad de Oriente (UNIVO), the Central American Bank for Economic Integration (CABEI), through the DINAMICA II Initiative, which is financed by the Government of Germany, through the KfW, and the European Union, signed a Non-Reimbursable Technical Assistance Agreement for a total amount of US$58,000 with the university mentioned above.

UNIVO, through the CIDE, seeks to promote and establish businesses as a contribution to boosting the economy of the Salvadoran territories, creating a methodology for the design of the business development process and attention to entrepreneurial ventures.

With this support, the CIDE will certify 12 of its personnel advisors on business coaching as a strategy to support entrepreneurial start-ups in the eastern part of the country. The CIDE team will be trained on a new development methodology that will be implemented as a pilot test in which 10 entrepreneurial ventures, previously registered at the Center, will participate, 5 of which are led by women.

On the other hand, with technical assistance, the CIDE will incorporate a business simulator through Software that will allow the modeling of business processes of the entrepreneurial ventures and will create a business observation tool that will function to gather information related to the entrepreneurial environment that is addressed by the University's business units.

The CABEI Country Manager for El Salvador, Raúl Castaneda, the European Union Ambassador to El Salvador, François Roudié, and the Dean of UNIVO, Pedro Arieta, participated in the signing of the Non-Reimbursable Technical Assistance agreement.

The DINAMICA II Initiative is a tripartite initiative between CABEI, the Government of Germany, through the KfW, and the European Union, and is implemented in Central America with the objective of promoting and strengthening the development of the entrepreneurial ecosystem and the private sector, especially for new, young, and/or innovative MSMEs.

To date, this initiative has supported more than 2,000 Central American MSMEs with more than US$52 million in credits, protecting more than 17,000 jobs. In El Salvador, support has been provided to MSMEs with more than US$12 million in credits; more than 103 micro and small enterprises have been strengthened with non-reimbursable resources from Small Grants; and more than US$6 million has been allocated for technical assistance to strengthen Business Development Centers and MSMEs, as well as seed capital for innovative entrepreneurial ventures and MSMEs, through the Special Window of El Salvador.