Uruguay launches SIGA Innovación to fund SME innovation

The Uruguayan government has introduced SIGA Innovación, a new financial instrument designed to support micro, small, and medium-sized enterprises (MIPYMES) in developing innovation projects. The program aims to facilitate access to credit by reducing guarantee commissions by 50% and providing coverage for up to 70% of loan amounts.

The maximum guarantee is set at 1,200,000 indexed units (approximately $200,000 USD), with repayment terms extending up to 72 months. The initiative is a collaborative effort involving Uruguay Innova, the Ministry of Economy and Finance, the National Research and Innovation Agency (ANII), the National Development Agency (ANDE), and the National Guarantee System (SIGA).

Officials noted that MIPYMES account for two out of every three private-sector jobs in Uruguay. To further support the sector, a separate program involving digital vouchers—offering up to $20,000 in non-reimbursable incentives for digitalizing production processes—is scheduled for presentation on September 28.