In developed countries, investors put their trust and capital in emerging companies, known as startups. In general, they have a scalable and innovative business model, boosted by new technologies and their great growth potential.
However, in the Dominican Republic this modality is not fully developed, and many entrepreneurs depend on applying for loans from traditional banks because they lack cash flow or do not have a structured business plan to apply for a traditional loan. CREE Banreservas was born out of this reality.
This program supports the sustainable development of innovative projects of Dominican entrepreneurs, involving them with the local entrepreneurial ecosystem, potential investors, technical mentors and business experts in the areas required by their projects.
According to the program manager, Melissa Hernández, the country needed a national entrepreneurship strategy at the public policy level, which included four main areas: education, entrepreneurial culture, project acceleration and financing.
“Strategically we created a fund, which is an asset of Banreservas, but it is not managed directly by it, but by its pillar, Fiduciaria Reservas. We become partners of the company through this trust and we make investments,” said the executive.
She indicated that right now, they have a ticket of US$700 per project; as a technical unit, they are in charge of identifying the venture, to understand who is behind the project and thus invest safely.
This information was offered during the conversation “Let’s talk about business: how does CREE Banreservas support the growth of your business”, organized by elDinero Mujer magazine during the third edition of Wonder Woman Dominicana, an event that was attended by several entrepreneurs, businesswomen and leaders of the Dominican Republic.
Source: Eldinero.com
