GEC – Puerto Rico Conference

by Maria Botta

“Unleashing Potential: The Booming Value of Entrepreneurial Ecosystems in Latin America & the Caribbean – Insights from GEC Puerto Rico Conference”

A few weeks ago, I had the opportunity to join the Global Entrepreneur Networks Conference (GEN) – GEC+Puerto Rico in San Juan, V35, an entrepreneurial vision for Latin America + Caribbean. Cecilia Wessinger, GEC Director for Global Community, suggested that I attend.

This Conference brought together an exceptional group of ecosystem builders, supporters, government entities, and investors from the Caribbean, LATAM, and the US. With its global reach and influence, GEN operates programs in 200 countries, hosts numerous conferences worldwide, and organizes Global Entrepreneurship Week—a massive celebration of entrepreneurial ecosystems.

I witnessed firsthand how GEN creates deeper cross-border collaboration and initiatives by creating spaces where those developing or supporting ecosystems can have conversations and exchanges about the challenges and rewards of ecosystem building. These challenges include navigating regulatory environments, securing funding, and fostering a culture of innovation, while the rewards range from economic growth to social impact. The level of participants and presenters was world-class, from those on the front lines working with underserved communities and helping to build a formal culture of entrepreneurship to the panels and topics full of thought-provoking and scholarly information. I left San Juan after 4 days, and my brain was buzzing – in a good way; I learned so much and had the opportunity for deep and meaningful conversations. For the past 11 years, I have been informally and formally supporting entrepreneurial ecosystems as an advisor and mentor through Techstars, Builders + Backers, ACT House, and 1:1 with individuals. This is the work that needs to be done; this is the work I want to continue to do and have a more significant impact; that is why I was so interested in attending, listening, networking, and learning as much as possible.

Building diverse ecosystems that cater to entrepreneurs’ needs and facilitate their success is a collective effort that must involve stakeholders from diverse sectors. From grassroots incubators and accelerators, investors, advisors like me, and Government policymakers, each of us plays a crucial role in this journey.

Several exciting sessions touched on AI and how to leverage it for entrepreneurs and aid in building ecosystems. There were many sessions on investment, both from the investor side and the ecosystem side—this was perhaps the most significant conversation—the huge gaps in access to money in the region.

Eight countries were represented and participated in the Startup Nations Ministerial hosted by the U.S. Small Business Administration in partnership with GEN. The purpose was to outline upcoming challenges and priorities and set the stage for broader government engagement. I asked a question during the Startup Nations Ministerial Press Conference – with only three women represented, I asked how are you addressing or planning to address the needs of women entrepreneurs – this is a constant question for me as I am a Latina entrepreneur and work as a mentor to female founders. Although I didn’t receive a direct or concrete answer from the other country’s representatives, Isabel Casillas Guzman, who leads the U.S. Small Business Administration and is part of the Biden-Harris cabinet, answered that in the US, the Biden administration is deeply committed to women in business and had made great strides in this area by creating the Women’s Business Centers.

Another significant outcome of the conference was the unveiling of a Roadmap for entrepreneurial success. This roadmap, with its 35 recommendations to accelerate entrepreneurship, not only boosts economic growth and job creation in the region over the next decade but also serves as a compelling signal to potential investors, highlighting the unique opportunity for significant investment in the region. The roadmap is a comprehensive guide that addresses key areas such as access to capital, regulatory reform, and talent development, providing a clear path for entrepreneurial success in the region.

Looking back, I regret not being able to participate in all 50 live sessions. The quality of the sessions was so high that I felt I was missing out on valuable insights and discussions that could have further enriched my understanding of the entrepreneurial landscape. If this sounds impressive, check out the session recordings on YouTube, view one of the videos below.

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The Integral Role of Latina Entrepreneurs In the Economy & Culture