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Peruvian diaspora to help entrepreneurs back home
Originally published: January 1, 2011 10:38 AM
Updated: January 1, 2011 10:44 AM
By SAMANTHA HENRY (Associated Press)
Updated: January 1, 2011 10:44 AM
By SAMANTHA HENRY (Associated Press)
NEWARK, N.J. - (AP) — A consortium of business, academic and immigrant-lead organizations in the United States and Peru are collaborating on an initiative they hope will assist small-business entrepreneurs in both countries.
The Peruvian-American Center for Entrepreneurial Development, or PACED, will be modeled after U.S.-style business "incubators," or hubs that are set up to provide logistics, technical infrastructure, training and other resources for business owners who lack the capacity to expand the reach of their products beyond their own communities.
The project, with support from Peruvian business leaders in the U.S. and universities in both countries, opened an office this month in Lima, Peru, and plans to be operational by January. Its U.S. counterpart will be based in the existing business incubator program at the New Jersey Institute of Technology.
Daniel Jara, a prominent Peruvian business leader and the head of The Statewide Hispanic Chamber of Commerce of New Jersey, said it's important for members of the diaspora to share in the know-how that has made them successful in America.
"We're in a perfect position, since we know the market, the language and the culture, to help these businesses," Jara said.
Business incubators are usually aimed at helping eligible startup companies or entrepreneurs navigate everything from applying for funding or bank loans, to developing marketing plans or learning how to expand into new markets.
The project in Peru, like most business incubators, will offer eligible participants access to a central office with telephones, internet-ready computers or other types of infrastructure that rural or small-business entrepreneurs in a developing country may not have ready access to, according to Jara. Participants will also have access to a staff of academic and business experts, and receive training on everything from export-import regulations to the contracting requirements for doing business under a recently signed free trade agreement between the U.S. and Peru.
Judith Sheft, associate vice president for the technology development at NJIT, where the program's U.S. counterpart will be based, said business incubators can be a valuable tool for small-scale entrepreneurs anywhere in the world.
"For an early company that's just starting up, the advantage of the incubator is that you're not doing it on your own," Sheft said. "You have the support of the incubator managers to help you move your business forward, and you have the opportunity to network and collaborate with other companies that are in the business incubator."
The program in Peru is being set up with an initial investment of about $500,000, according to Jara, who said it will be run as a collaboration between his New Jersey-based chamber of commerce, the Peruvian American National Roundtable, NJIT and the Universidad Inca Garcilaso de la Vega in Lima.
The initiative is aimed not only at helping, for example, a small peanut oil producer in rural Peru figure out how to market their product in America, but also could provide a small business owner in New Jersey the chance to break into overseas markets, Jara said.
The model has been successful in the U.S., according to Sheft, who said NJIT oversees a technology business incubator that has 95 small companies in it, including some international companies that use it as a "soft landing" to establish a foothold in American markets. She's traveling to Peru this month to help set up the program there.
"We're really excited about the potential that it has for both New Jersey and Peru," Sheft said. "There's certainly a great opportunity for both of us to experience some economic development."
The Peruvian-American Center for Entrepreneurial Development, or PACED, will be modeled after U.S.-style business "incubators," or hubs that are set up to provide logistics, technical infrastructure, training and other resources for business owners who lack the capacity to expand the reach of their products beyond their own communities.
The project, with support from Peruvian business leaders in the U.S. and universities in both countries, opened an office this month in Lima, Peru, and plans to be operational by January. Its U.S. counterpart will be based in the existing business incubator program at the New Jersey Institute of Technology.
Daniel Jara, a prominent Peruvian business leader and the head of The Statewide Hispanic Chamber of Commerce of New Jersey, said it's important for members of the diaspora to share in the know-how that has made them successful in America.
"We're in a perfect position, since we know the market, the language and the culture, to help these businesses," Jara said.
Business incubators are usually aimed at helping eligible startup companies or entrepreneurs navigate everything from applying for funding or bank loans, to developing marketing plans or learning how to expand into new markets.
The project in Peru, like most business incubators, will offer eligible participants access to a central office with telephones, internet-ready computers or other types of infrastructure that rural or small-business entrepreneurs in a developing country may not have ready access to, according to Jara. Participants will also have access to a staff of academic and business experts, and receive training on everything from export-import regulations to the contracting requirements for doing business under a recently signed free trade agreement between the U.S. and Peru.
Judith Sheft, associate vice president for the technology development at NJIT, where the program's U.S. counterpart will be based, said business incubators can be a valuable tool for small-scale entrepreneurs anywhere in the world.
"For an early company that's just starting up, the advantage of the incubator is that you're not doing it on your own," Sheft said. "You have the support of the incubator managers to help you move your business forward, and you have the opportunity to network and collaborate with other companies that are in the business incubator."
The program in Peru is being set up with an initial investment of about $500,000, according to Jara, who said it will be run as a collaboration between his New Jersey-based chamber of commerce, the Peruvian American National Roundtable, NJIT and the Universidad Inca Garcilaso de la Vega in Lima.
The initiative is aimed not only at helping, for example, a small peanut oil producer in rural Peru figure out how to market their product in America, but also could provide a small business owner in New Jersey the chance to break into overseas markets, Jara said.
The model has been successful in the U.S., according to Sheft, who said NJIT oversees a technology business incubator that has 95 small companies in it, including some international companies that use it as a "soft landing" to establish a foothold in American markets. She's traveling to Peru this month to help set up the program there.
"We're really excited about the potential that it has for both New Jersey and Peru," Sheft said. "There's certainly a great opportunity for both of us to experience some economic development."
Copyright 2011 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
Maclovia Perez
801-833-2793
Coordinadora Red de Peruanos en Utah*USA*
E-mail:redperuenutah@gmail.com
http://redperuenutah.blogspot.com/
Corresponsal Red Democratica del Peru
