Mineco, in collaboration with UVG, announces a Q163M Technological Innovation Fund (FIT) for MSMEs

The Fondo de Innovación Tecnológica (FIT) was launched by the Government of Guatemala as a new financing mechanism aimed at strengthening innovation and technological adoption among micro, small, and medium-sized enterprises (SMEs), as well as cooperatives and associations across the country.

Initial funding and structure of the FIT

The fund starts with an allocation of 163 million quetzales (just over US$21 million) sourced from the national budget. According to authorities, it will operate under a revolving model, meaning that repaid loans will be reinvested, allowing the fund to expand over time.

Guatemala’s Minister of Economy, Gabriela García, explained during a press conference that applications will be managed through a dedicated platform, where companies can submit their projects for evaluation.

Evaluation process and financing range

Projects applying to the FIT will undergo a two-stage assessment process. First, the Universidad del Valle de Guatemala will conduct a technical evaluation focused on the level of innovation, recognizing that innovation can be interpreted from multiple perspectives.

Once approved, proposals will move to a credit evaluation conducted by Crédito Hipotecario Nacional.

The fund will provide financing ranging from 20,000 quetzales (approximately US$2,610) to 10 million quetzales (around US$1.3 million), depending on the nature and scope of the innovation presented.

Expanding access to credit for SMEs

Authorities emphasized that the FIT seeks to address structural gaps in access to financing. García noted that nearly 89% of traditional bank credit is directed toward large companies, leaving SMEs with limited opportunities despite being a key driver of employment and economic activity.

The fund will be available nationwide and is expected to support not only established businesses but also entrepreneurs in the process of formalization.

Driving technological adoption and competitiveness

Through preferential credit conditions, the FIT will enable companies to invest in technology, improve production processes, acquire equipment, and meet quality standards.

According to analysts, this initiative could accelerate operational modernization and enhance the competitiveness of Guatemalan businesses in both local and international markets.

@minecogt El Fondo de Innovación Tecnológica (FIT) ya es una realidad. Desde el Viceministerio de Desarrollo de la MIPYME del Ministerio de Economía, trabajamos para que el acceso al crédito también impulse la innovación y la transformación tecnológica del sector productivo. Innovar para producir, producir para crecer. Conoce más en: www.fit.mineco.gob.gt #GuatemalaProduceTodoLoBueno ♬ sonido original - Ministerio de Economía

A long-term policy to support innovation

The Ministry of Economy highlighted that the FIT represents a first-of-its-kind initiative in the country and forms part of a broader government commitment to promote innovation and technological development within the productive sector.

Officials also indicated that the long-term impact of the fund will depend on demand from businesses and their ability to execute innovative projects, leaving open the possibility of expanding resources in the future.

García expressed confidence in the initiative, stating that the goal is for the fund to “transcend and enable growth,” reinforcing its role as a strategic tool for economic development.