Strengthening the Innovative Entrepreneurship RD

República Dominicana
Project under implementation

Description

Since 2019, The Trust for the Americas, in partnership with the AES Dominicana Foundation, implements Strengthening the Innovative Entrepreneurship, a project that aims to boost the local economy through the development and strengthening of entrepreneurships in the Dominican Republic.

In 2022, The Trust for the Americas and the AES Dominicana Foundation focused their efforts in Boca Chica, Los Mina and La Caleta. Through this cycle of the Strengthening the Innovative Entrepreneurship Project, we directed our efforts towards the development of strategies to strengthen business ideas and small businesses under the economic paradigm known as Low Touch Economy, through a virtual training process aimed at promoting the creativity, innovation and adaptation that are fundamental for the survival and success of small businesses. The project successfully trained 170 entrepreneurs, of which 75% were women.

In 2024, we will begin a new cycle of Strengthening the Innovative Entrepreneurship focused on the entrepreneurial community of San Antonio de Guerra.

Project purpose

In 2022, we launched our second year of implementation of Strengthening the Innovative Entrepreneurship Project in Boca Chica, La Caleta and Los Mina in the Dominican Republic. With the support of AES Dominicana Foundation, we trained 170 entrepreneurs, 75% of which were women, in the Canvas business model, digital and business tools, to support the strengthening or creation of entrepreneurships.

Project goals

Identification of the needs and interests of small entrepreneurs.

Implementation of a communications campaign to promote the project.

Training of entrepreneurs in the Canvas business model, technological and entrepreneurial skills.

Strengthening of social and business initiatives with AES Innovation Funds in the form of economic and in-kind incentives.

Personalized support and close mentorship to the winners of economic incentives and in-kind incentives in the acceleration processes of their business models.

Follow-up, monitoring and systematization of results.

Main achievements

350
Since 2019, 350 entrepreneurs have developed or strengthened their business models with entrepreneurial and digital skills.
200
Since 2019, 200 entrepreneurships have been supported in the creation of their business models.
200
Since 2019, 200 entrepreneurs have presented their business models at entrepreneurship fairs through a Pitch Tank.
51
Since 2019, 51 entrepreneurships have been strengthened with economic incentives and business acceleration processes.

Strategic partners

Success Stories

Belkis

Belkis is an entrepreneur who participated in the project Strengthening the Innovative Entrepreneurship in the Dominican Republic in 2019.

Belkis is an entrepreneur who participated in the Strengthening the Innovative Entrepreneurship Project in the Dominican Republic in 2019. Through the support she received, Belkis was able to strengthen her crafts business, focused on crafting and selling dolls which are sold as souvenirs to tourists. Thanks to her efforts, she was one of the winners of the economic incentives granted by AES Dominicana Foundation aimed at strengthening her small businesses. Belkis decided to share the knowledge and skills she gained through the training with her son, which helped him become an entrepreneur during the COVID-19 pandemic.

Belkis decided to take her knowledge and skills further and was appointed as Councilwoman of the municipality of Boca Chica. Belkis shares that she was able to put into practice the Canvas model, which she learned through the project, to structure her political campaign. In her current role, Belkis continues to support people who, like her, are looking to strengthen their small businesses.

Which of the following SDGS (Sustainable Development Goals) this project support?