Recupera Chile has develop projects with local entrepreneurs for a total amount of USD $225,545. A first round of private and public funds was able to meet around 24% of total capital needed, but there are still a considerable number of projects in search for capital.
The main areas where projects are being developed are agriculture, lodging & restaurant business, commercial and tourism related business. Secured funds are distributed among all areas with a predominance in lodging.
Recupera Chile is working with local entrepreneurs to try to fill the gap between total capital needs and supply in Cobquecura by attracting private and public investment into the town.
Entrepreneurship Development Strategy
One of the main measures adopted by Recupera Chile to foster local entrepreneurship and spur the local economy was to place incentives and resources for local entrepreneurs to develop their ideas while at the same time build capabilities within the community.
Recupera Chile puts local entrepreneurship at the center of the economic development strategy. Local businesses are the ones that at the end will turn Cobquecura into a thriving community, will create jobs and improve household's income.
In order to do that, Recupera Chile uses its projects, specially the Entrepreneurial Contest and the Business Consultant as means to an end and not as an end by itself. Therefore Recupera Chile sees these projects as investments in human capital for the long-term development of Cobquecura.
This approach is crucial to also attract and retain young local talent, provide them with opportunities and deter the young from leaving the town. Youth play a vital role in the future growth and development of Cobquecura and for that reason one of the goals of the development plans has to be to retain local talent, but also give them opportunities to innovate and undertake new challenges.