Do entrepreneurship programs create lasting change? Most evaluations stop when the funding ends. But if we want to design programs that actually work in the long run, we need to understand what happens after the support ends—whether businesses survive, grow, and continue creating jobs. That’s why TechnoServe partnered with 60 Decibels to conduct a rare long-term (or ex-post) study of two entrepreneurship acceleration programs: Impulsa tu Empresa (ITE) and EMERGE.
These programs supported entrepreneurs in Guatemala, El Salvador, and Chile between 2015 and 2022. Our study revisited 425 graduates, including many who completed the program up to 8 years ago. We set out to answer two key questions: Were the impacts of the programs sustained over time? And what contributed to (or hindered) lasting success?
This report explores those questions through the voices of the entrepreneurs themselves—revealing what stuck, what didn’t, and how programs like ITE and EMERGE can drive more sustainable business growth across Latin America.
61% of participants are accessing a program like the one ITE provides for the first time, showcasing most participants were previously underserved. 96% of participants’ business continue operating since graduating from the program, and the same proportion is formally registered, indicating business sustainability over time.
When asked about impact on quality of life, 76% of participants report an improvement, citing expanded business knowledge and operational efficiency as the main outcomes. Moreover, businesses that adopted at least 3 business practices report deeper impact across various metrics such as quality of life, business revenue and program satisfaction (NPS). ITE can use this data to incentivise business to continue adopting more practices.
68% of participants report increased business revenue, mentioning better financial management and improved strategic planning as main drivers. These could have contributed to participants raising an average of $25k in funding since graduating from the program. Consequently, 29% of participants have increased their number of paid employees because of ITE. On average, this increase has been 150%, from 8 employees to 20. More importantly, participants are offering better quality jobs, including enhanced benefits and increased salaries.
Finally, these changes are also leading to impact on the community. 69% of participants consider that their ability to contribute to the community has increased because of ITE. This effect is greater in El Salvador, compared to Guatemala.
ITE has a NPS of 68, which is considered excellent but is in line with our 60dB Benchmark for LatAm. The NPS for ITE 3 is better than that for ITE 2. Overall, the main drivers for satisfaction are the structured and comprehensive content, and personalized guidance provided.
However, there is room for improvement in the challenge rate, which is relatively high at 18%. The main issues mentioned by participants are program accessibility and lack of personalized guidance, despite it being promised. ITE can look into solving these challenges in the future to increase participant satisfaction.
Finally, ITE should also look into the suggested improvements, with the main ones being follow-up and progress monitoring, as well as industry-specific courses.
65% of participants are accessing a program like the one EMERGE provides for the first time, which signals most participants were underserved. 74% of participants report their quality of life improved. Participants mention business growth and revenue increase, as well as improved cost management skills as the main outcomes.
83% of EMERGE’s participants say their ability to manage their finances improved because of the program. Additionally, 89% of participants’ businesses continue operating since graduating from the program, with over half attributing its continued operation to EMERGE.
EMERGE has an NPS of 76 which is excellent, with female-led businesses and older cohorts reporting stronger satisfaction than their counterparts. Satisfaction is linked to business revenue. 69% of participants report an increase in revenue, with 37% reporting ‘very much increased’. They mention better financial management and enhanced sales’ strategies as the main drivers.
This is resulting in an average business revenue increase of 41% because of EMERGE. Consequently, 15% of participants have increased their number of paid employees, particularly those from the latest cohorts. On average, this increase has been of 100%, from 3 to 6 employees. More importantly, 54% mention the offered jobs are of better quality because of EMERGE, mainly due to increased salaries and enhanced benefits.
Although 84% of participants found the program ‘very useful’, there’s a small proportion of participants who have experienced challenges and are Detractors –they would not recommend the program to another business. Specifically, 6% of participants have experienced challenges, mainly with low quality advisors. 9% are Detractors, mentioning lack of post-program follow-up and personalization as the main drivers for dissatisfaction. Ensuring that everyone in the program has the same experience is key to maintain a high satisfaction across all participants.
Finally, EMERGE should also consider participants’ suggestions, with the main ones being more financial training and incentives, and increased digital sales and marketing content.
