Incubators That Bring Entrepreneurs’ Big Ideas to Life

In an environment where many ideas die before they’re ever born for lack of support, university incubators and innovation centers across Latin America have become essential allies for entrepreneurs taking their very first steps.

Entrepreneurship often begins with a spark—an idea that appears in the middle of a class, a conversation, or an unresolved need. But for many entrepreneurs, that first impulse quickly hits a wall: people who say “that’s never going to work,” “that already exists,” or “starting something is just too hard.” At that moment, the absence of guidance can extinguish even the best ideas.

But across Latin America—especially in Colombia and Panama—a powerful ecosystem is rewriting that story. It consists of university incubators and innovation centers, spaces where entrepreneurs don't receive a “no,” but rather acompañamiento (ongoing guidance) and tools to turn an idea into a real project. There, multidisciplinary teams ranging from engineers, designers, and economists to researchers and mentors specialized in different areas come together to guide those taking their first steps, showing that it is indeed possible to undertake a venture with confidence when the right orientation is in place.

Over the last decade, this type of support has solidified. Several universities understood that entrepreneurship is not an improvised matter, but a process that needs structure, feedback, and, above all, spaces where entrepreneurs can make mistakes without fear while finding the right path. That’s how incubators like Parque E at the Universidad de Antioquia, On.going University at EAFIT, and Start Factory at Universidad del Rosario were born and strengthened—among many others that currently function as real laboratories for testing and perfecting ideas.

“An idea is something that can come to us at any moment. What matters is connecting it and turning it into a business idea” explained Simón Echeverry, coordinator of On.going University at EAFIT, who insisted that the important thing is for that idea to end up becoming a viable prototype. Through the incubator, entrepreneurs receive tailored support aimed at connecting those ideas so they can become businesses. “We don’t see an entrepreneur as someone who creates a company, but someone who sees an opportunity in a problem and builds something from it”.

These incubators share one principle: accompanying entrepreneurs to reduce risk. They receive personalized mentorship, validation workshops, training to present their projects, and constant follow-up to ensure every decision has a foundation. Many students arrive with a barely sketched idea and end up developing functional prototypes, clear business models, and even applying to convocatorias (calls for applications) that allow them to receive seed capital.

Ruta N, based in Medellín, has become one of the most important innovation hubs in Latin America, connecting people, ideas, and resources so that science, technology, and innovation—CTI—flow throughout the city. Since its creation, Ruta N has become the engine that links the ecosystem. Through incubation programs, specialized mentorship, and broad support networks, it powers the growth of tech-based ventures and promotes an ideal environment for new solutions to scale and consolidate.

Beyond Colombia, the strengthening of entrepreneurship is also advancing in other countries in the region, as is the case in Panama, where university incubators and innovation centers have grown at an accelerated pace. Institutions like the Ciudad del Saber (City of Knowledge) and the Entrepreneurship Center of the Universidad Tecnológica de Panamá drive programs that combine mentorship, prototyping labs, financial advice, and micro-grant convocatorias for early-stage ideas. The regional support network also expands through international initiatives such as YLAI (Young Leaders of the Americas Initiative), led by the U.S. State Department. YLAI trains emerging entrepreneurs through mentorships, professional fellowships, and business model development. The initiative promotes innovative business practices that stimulate trade, foster job creation, and strengthen project sustainability.

It also builds support networks among leaders from Latin America, the Caribbean, Canada, and the United States, extending the reach of local incubators and allowing entrepreneurs to exchange knowledge, access new opportunities, and connect with international markets.

In the end, beyond the programs, incubators, or partnerships, what truly transforms economies are people—entrepreneurs who dare to begin, to make mistakes, and to begin again as many times as necessary. Initiatives like these don’t just offer tools or training: they open doors, accompany processes, and connect stories that, together, make it possible for today’s ideas to become real opportunities for the growth and strengthening of the region.