El Salvador has strengthened its role as a hub of innovation with the launch of CoreNest, a $25 million fund and startup accelerator designed to support 100 high-potential companies over the next three years.
“CoreNest arrives at the perfect moment, injecting more dynamism into the ecosystem we’ve built with our partners,” said Economy Minister María Luisa Hayem. She emphasized that the initiative will attract startups from across the region, generating investment, jobs, and growth.
CoreNest plans to expand the fund to $100 million in the coming years, with a focus on artificial intelligence, fintech, e-commerce, and telecommunications. Each startup will receive $125,000, access to a 12-week accelerator program, mentorship from global experts, and opportunities to partner with major companies.
“These $25 million are dedicated to those who dream big,” said CoreNest Capital partner Pedro Crespo, adding that the model seeks to replicate the success of Silicon Valley in El Salvador.
The project will also benefit from 15 years of tax exemptions under El Salvador’s innovation law. “We thank CoreNest’s founders for believing in the purpose of transforming countries through technology and capital,” noted José Roberto Rodríguez, CEO of CoreNest Accelerator El Salvador.