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INCAE launches the EMPRO program that will provide full scholarships to Guatemalan businesswomen

26 October 2022
Gabriela Flores Villalobos

INCAE Business School's Center for Inclusive and Sustainable Leadership (CELIS) ​​launched the Women Entrepreneurs Progressing Program (EMPRO) in Guatemala today. A platform that will provide support to small and medium enterprises led by women, providing them with the necessary tools and knowledge to accelerate their businesses as well as strengthening their skills and network of contacts. 

EMPRO seeks to contribute to the economic growth of Guatemala through the increase of income in the different companies of the participants and that, therefore, will generate more jobs; especially in regions prone to high migration. Taking into account that only from January to April 2022, the Guatemalan Migration Institute has received 11,305 Guatemalans1 returning to the country from the United States.

The program is promoted by the Aspen Network of Entrepreneurs for Development (ANDE), with the support of the United States Agency for International Development (USAID) in alliance with the companies: Cargill, Mastercard and PriceSmart Foundation. Thanks to this support, 80 full scholarships will be awarded to women entrepreneurs in the country.

Its execution is based on 3 phases: the first of them "Leads Academy" that includes training and personalized tutoring for the growth of both the business and the businesswoman, the second "To the Market" a preparation to define expansion to new markets and participate in a round of negotiations, and finally "To the Bank" a training in which the knowledge and preparation to access financial capital is developed.

Whereas, according to the report of The Global Entrepreneurship Monitor (GEM 2020-21)2At the Latin American level, Guatemala is in third place among the countries with the highest percentage of women entrepreneurs in their initial business phase. The organizers of the program expect the participation of businesswomen from all regions of the country, mainly the Northwest Region: Huehuetenango and Quiche. Southwest Region: Quetzaltenango, Retalhuleu, San Marcos, Suchitepéquez, Sololá and Totonicapán. Central Region: Chimaltenango, Sacatepéquez and Escuintla, Southeast Region: Jutiapa, Jalapa and Santa Rosa and Metropolitan Region: Guatemala. 

“We have studied for many years the challenges of entrepreneurs in the region. When we analyze business growth, the results of our research at INCAE show that while 59% of men expect an increase in profits of more than 10% in the next two years, only 48% of women entrepreneurs growth of more than 10% is projected. This finding indicated the need to focus on developing the skills of women entrepreneurs to boost the growth of their businesses and attract more investors, thus increasing access to more resources.” said Camelia Ilie, Dean of Executive Education and Strategic Innovation at INCAE Business School and Chair of the Center for Inclusive and Sustainable Leadership.

INCAE invites Guatemalan businesswomen to review the application requirements for the EMPRO program, which will provide acceleration and professional development tools to scholarship winners. As of October 10, 2022, you can apply at the following link: https://www.incae.edu/es/empro-guatemala.html