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ANII | Agencia Nacional de Investigación e Innovación




The Uruguay Innovation Hub (UIH) program aims to promote science, technology and innovation projects that will enable the country to move towards a knowledge-based economy and society, becoming a world-class innovation center that will attract international investment, increase the country's potential economic growth rate and generate quality jobs for the country's inhabitants.

The objective of this call is to create a registry of Venture Capital Organizations and Angel Investors of the Uruguay Innovation Hub. Those who are part of the registry will have the possibility to submit proposals for co-investment in startups in the following prioritized areas: Advanced digital technologies; Green Technologies: and Biotechnology.

Which investors can apply?

The call for expressions of interest is aimed at domestic or foreign venture capital organizations and angel investors with a track record in startup financing, demonstrated financial capacity, the necessary skills to follow up on each investment, and demonstrable success stories.

  • For venture capital organizations, it is required to have a fund whose investment thesis is aligned with the prioritized areas of the UIH and that has a target size of at least USD 10 million, where it already has a committed capital of 25% of the total; or have made at least 10 investments in technology-based or scientific-technological startups for a cumulative amount of no less than USD 1,000,000.
  • In the case of angel investors: It is a requirement to have invested in at least 3 technology-based or scientific-technological startups, for an accumulated amount of no less than USD 200,000 in the last 3 years.

Which startups can receive co-investment?

Early-stage startups with an innovative product or service and a scalable business model will be eligible for co-investment. They must also demonstrate high growth potential and have a highly qualified team. They must also have technical validation, a minimum viable product/functional prototype and demonstrable traction.

In the case of the biotech sector, eligible startups must have validations performed at least at the proof-of-concept level.

In any case, in order to apply for UIH co-investment, the startup must complete an application form provided by the program for this purpose, where it will be requested to prove the existence of an investment commitment by a private investor who is part of the UIH's registry of eligible investors, having previously gone through a due diligence process,  among other relevant information.

This call operates under the open window modality and its closing is subject to the availability of funds.

For enquiries: coinversion@uih.uy