During 2010 Cuba started to privatize more of its industry and recently President Obama vowed to to ease restrictions on Cuba. Cuba has 500,000 registered entrepreneurs (Brookings Institution) and the number is expected to rise. As with any developing market multiple ventures have risen to aid these entrepreneurs.
One of them is “SartUp Cuba” which aims to provide these entrepreneurs with the needed skills to launch a profitable firm. But with only 5% of the population able to access the internet that goal seems impossible. As a result of the treaty US firms have started to enter the Cuban market and update its infrastructure thus that number is expected to rise soon.
And as more of the youth are able to access the internet they will be more motivated to join the recent tech start-up frenzy. And programs like “StartUp Cuba” are going to meet them half way. The Cuban government doesn’t support these programs fully but is welcoming them in hope of reaching better economic times.
Photo sourced from lonelyplanet.com