The Startup Ecosystem of Costa Rica

Costa Rica also has a strong relationship with the United States, its main trading partner. With a stable political climate, the country’s startup ecosystem is attracting foreign investment and partnerships. Costa Rica places a strong emphasis on education and training for its tech workforce, resulting in a thriving technology hub in San José with major players such as IBM and Microsoft.

The government is actively supporting these initiatives with new laws and strategies to foster a favorable environment for the digital economy. For example, Law 7799 promotes competitiveness and innovation through tax incentives for research and development. The Costa Rican Investment Agency promotes foreign direct investment in key sectors like smart-manufacturing, knowledge-intensive services, and health and well-being. Organizations like Startup Costa Rica are also instrumental in helping tech startups grow globally, secure funding, and accelerate their development.

Despite these successes, more needs to be done in terms of funding and government support for early-stage startups in Costa Rica. Efforts like the Fondo de Capital Semilla, a Green Tech program supported by Procomer, are crucial in driving innovation and entrepreneurship forward in the country.