In a world where we are increasingly connected, it is important to recognize the importance of collaborating and taking advantage of synergies to achieve success. The contest whose benefits include knowledge exchange, training and creation of contact networks, seeks to enhance entrepreneurs and the business community.
With this objective, Banco Industrial and the Kirzner Entrepreneurship Center (KEC), of the Francisco Marroquín University, developed the BI Challenge competition. On this occasion, the approach will be to identify and accompany businesses with scalability potential that, through innovation and implementation of technology, have achieved successful results.
These businesses must have the ability to transform key industries, modernize infrastructure and improve country’s competitiveness at the regional and international level. Through the BI challenge, it will seek to identify companies that use technology, creativity and innovation to face specific challenges of the Guatemalan market with the possibility of expanding to other markets. This is aligned with the vision of MIT reap to encourage ventures with rapid growth capacity, noticeable economic impact and adaptability to the global market.
“In Banco Industrial we firmly believe that one of the pillars of economic development in Guatemala is entrepreneurship, so we are proud to support initiatives that motivate Guatemalans to go together, always forward,” said María José Paiz, Institutional Relations Manager of Banco Industrial and General Manager of Foundation BI.
Registration is open until Sunday, June 15, 2025 and can be made on the official page of the event: KEC.UFM.EDU/DESAFIO-BI/
Requirements
Being a business with a market in the market, having more than 12 months in the market, owners must be of legal age, have availability to attend workshops, training and face -to -face activities in Guatemala City or virtual.
It is not allowed to participate in two categories with the same business. The same person can participate with several ventures.
Two categories
- Emerging enterprises (12-24 months). It is aimed at companies in its early stages of development with tangible results. Entrepreneurships must demonstrate how the tools used have validated their product, facilitated customer collection and generated increase in sales.
- Entrepreneurship in maturation and expansion (2-4 years onwards). These are companies that have a solid operational base and seek to expand their scope through technological and innovative strategies that enhance their performance. They are consolidated and have achieved a significant impact on their sector and seek to strengthen their position while expanding to new markets. They must show how used tools increase sales, optimize internal processes, explore new markets and increase their profitability.
The program will focus on how the implementation of technological tools has generated specific results. The creation of innovative alliances that allow them to strengthen their scalability and increased measurable results such as significant increases in sales, penetration in international markets or investment collection will be promoted.
In both categories, participants will be able to win prizes of up to USD $ 4,000 will also be rewarded to second and third place.
“From the Kirzner entrepreneurship center we promote initiatives that promote innovation, technology and growth of companies with high potential. Challenge BI represents an opportunity to strengthen the entrepreneurial environment of the country, connecting talent, knowledge and capital oriented to climb solutions that contribute to the development and prosperity of Guatemala,” said Monica de Zelaya, dean of the Faculty of Economic Sciences.