OurCrowd and Uruguay Join Forces to Boost Tech Incubator in Latin America

The Ministry of Industry, Energy, and Mining in Uruguay has recently signed a memorandum of understanding with OurCrowd, a Jerusalem-based global venture investor. The agreement aims to establish a technology startup incubator in Uruguay as part of the Uruguay Innovation HUB Program. The goal of the Uruguay Innovation Hub is to promote the country as a hub for the development of new businesses in the Latin American region and beyond.

The program is a great opportunity for the country to strengthen its innovation and entrepreneurship sector, and for OurCrowd to expand across Latin America. OurCrowd, which operates five government-backed incubators in Israel and one abroad in New Zealand, intends to build on this model in Uruguay.

The partnership seeks to incentivize the private sector, including VCs, MNCs, and local conglomerates, to invest in early-stage startups, substantially contributing to the entire ecosystem. As the CEO of OurCrowd, Jon Medved, said, “Uruguay is a regional magnet for innovation, which we view as a springboard to expand across Latin America.”

The collaboration between Uruguay and OurCrowd is another example of how Israel, a small country in the Middle East, has become a global leader in technology and innovation. The State of Israel has long been known as the “Startup Nation,” with the most startups per capita and a thriving ecosystem that attracts investors and entrepreneurs from all over the world.

This partnership is also an opportunity to showcase the values of the State of Israel, including its commitment to innovation, entrepreneurship, and global partnerships. We hope that this venture will be successful and that it will further strengthen the relationship between Uruguay and Israel.