According to the UNDP, before the start of the pandemic, there were approximately 1.5 million active Micro, Small, and Medium Enterprises (MSMEs) in the Dominican Republic, representing 98% of the total number of existing companies in the country. These MSMEs generated more than 2 million jobs in the Dominican economy, equivalent to 54.4% of the employed population in the labor market, and contributed 38.6% to the country's GDP. However, the COVID-19 pandemic impacted Dominican economy, resulting in a loss of jobs, business closures, and an increase in poverty.

To support Dominican entrepreneurs, the US Embassy in the Dominican Republic and Seedstars, are teaming up to launch the Rural Innovation Hackathon and Incubation Program. This virtual program will bring together teams of young entrepreneurs, students, professors, and business leaders to provide them with practical training on innovation and product development. The goal is to create technology-based solutions that mitigate the impact of COVID-19 on SMEs in Montecristi, Dajabón, Santiago. Rodríguez, Valverde, Espaillat and Puerto Plata of the Dominican Republic.

Participants will get the opportunity to join a five-day hackathon with access to mentors, online sessions, networking, etc. The two winning teams will also receive funding of up to $5,000.00 U.S. dollars and access to a three-month incubation program to further develop their solutions.

To participate in the Rural Innovation Hackathon & Incubator, fill out the application form by May 22, 2022 here: https://seedsta.rs/3tCjaAW

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ABOUT THE US EMBASSY IN SANTO DOMINGO

The mission of the United States Embassy in Santo Domingo is to promote the interests and values of the United States, working together with Dominicans to achieve the continued development of a democratic, equitable, and prosperous Dominican Republic.

Through the Embassy's Public Affairs Section, we support educational and cultural activities and projects, and manage various programs to promote mutual understanding and improve understanding of American society and values. The Rural Hackathon of Innovation and Incubator is carried out with funds from the Embassy of the United States in Santo Domingo. For more information, visit www.do.usembassy.gov.

ABOUT SEEDSTARS

"They tried to bury us, they didn’t know we were seeds." - Mexican proverb

Seedstars is a Swiss-based private company with a mission to impact people’s lives in emerging markets through technology and entrepreneurship. The group’s activities cover over 90 emerging ecosystems through a variety of initiatives such as the FTxSDG Challenge, previously known as the Seedstars World Competition, which is the largest entrepreneurship competition in emerging markets; Seedstars Programs that are designed to support entrepreneurs in varying stages of growth via training, education, mentoring, and access to resources; Seedstars 01, a talent incubator providing digital skills and startup-based immersive education for the next generation of changemakers; Seedspace, physical coworking spaces and hubs located in 15 countries; and Seedstars International, a global venture capital fund for seed-stage startups. For more information, visit www.seedstars.com.

CONTACTS

Program

Paulina Lopez

Program Manager

[email protected]

Media

Michaela Villaroman
Media Relations

[email protected].