National Government Rewards Non Reimbursable Funds to Entrepreneurs of the Creative Economy

• The head of the executive stated that his government believes and relies on the potential of the cultural industry as a provider of employment and more opportunities for living
• Ninety-seven entrepreneurs from the cultural and creative industries of the country received, through the Crea program in Panama 20-30, seed capital amounting to a total of B / .850.000.00.
• The Crea program in Panama 20-30, financed by BID, grants B / .5.00.00 for new ideas projects, B / .10.00.00 for cultural microprojects and B / .15.00.00 for SMEs

The President of the Republic, Laurentino Cortizo Cohen, participated, on the morning of this Tuesday, in the provision of non-replaceable funds to 97 entrepreneurs from cultural and creative industries throughout the country who were selected through the program "Crea in Panama 20-30," an initiative of the Ministry of Culture (MiCultura) financed by the Inter-American Development Bank (BID). Overall, B / .850.000.00 was delivered in seed capital.

The Chief Executive stated that his government believes and relies on the potential of the cultural industry as a means of generating jobs and more dignified living opportunities and also as a factor that contributes to defining a common identity.

"We know that culture is a cross-cutting axis to all other sectors of our society, both productive and social, and we are committed to laying the foundations for a state's cultural policy that responds to our people's realities, capabilities and cultural needs," Cortizo Cohen stated at the City of Knowledge's amphitheater.

Accompanying his vice president, José Gabriel Carrizo Jaén, the president detailed that with the surrender of seed capital for a total of B / .850,000.00 "justice to the great capital of talent and creativity of our people and strengthening our culture as well."

In addition to seed capital, entrepreneurs were trained and will have the accompaniment of mentors that will assist them with the development of new models of marketing, digitization and export of their goods and services, stated the president.

He recalled that with the creation of the Ministry of Culture, we have been given the first actions of the Plan of Government within the cultural area, "a commitment we honor in the first 45 days of our administration," he emphasized.

He added that this plan established two priority actions to give impetus to cultural activities: the first Training Programme for Creative and Cultural Industries and the development of cultural and creative industries through Cultural Project Incubators.

"With the support of the Inter-American Development Bank and the UNESCO, two studies have been conducted to identify the most active and best organized sectors as part of cultural activity and to know what are the characteristics of creative employment in Panama. The results have determined short- and medium-term actions with an emphasis on training and entrepreneurship, as was the case with this seed capital surrender," the ruler added.

"Panama has a great cultural wealth that is reflected in creative expressions as a substantial part of Panamanian and Panamanian lives," Cortizo Cohen concluded.

Rocío Medina, representative of BID in Panama, stated that the financial entity welcomes the commitment of the Panamanian Government to the impetus of new initiatives in the creative economy sector. "We reiterate BID's support to cultivate and continue to advance the sustainable development of its cultural and creative heritage in Panama," she said.

He emphasized that one of the aims of the programme was to promote the creative and cultural industries based on the country's heritage and cultural properties as a means of enhancing their contribution to strengthening culture, social cohesion and economic empowerment.

Through MiCultura and under the assistance of the UNESCO and the European Union, in co-ordination with the Micro, Small and Medium Enterprise Authority (Ampyme) and the City of Knowledge Foundation, this financial support program was developed that promotes three forms of business: new ideas, cultural microprojects and SMEs with more than two years of operation.

The Crea programme in Panama 20-30, financed by the BID, grants B / .5.00.00 to new thought-provokers and B / .10.00.00 for cultural microenterprises and B / .15.00.00 for SMEs. The management of these funds will be subject to monitoring.

The winners have projects of gastronomy, crafts, dance academies, art and folklore and dance academies, farms and musical projects, among others.

They accompanied President Cortizo Cohen, Carlos Aguilar, Minister of Culture, Oscar Ramos, manager of the Ampyme and Jorge Arosemena, president of the City of Knowledge Foundation.