Assembly concluded first debate on the Law of Entrepreneurship and Innovation
6 septiembre 2019

Today, the National Assembly concluded its first debate on a bill for Entrepreneurship and Innovation that promotes collective financing platforms or crowdfunding. The observations made on the initiative this afternoon will be submitted to the Committee of Economic Development for the drafting of the report for the second debate, expected to take place in the coming weeks.

The legislators agreed on the importance of advancing on this bill, and made observations that will be taken into account in the second report. Among them was the need to protect national production and improve access and control of markets with fair prices. They also stressed the need to promote access to technology to boost the growth and development of the Ecuadorian economy.

During the session, assembly member Silvia Salgado (Alianza País – ruling party) pointed to the need to establish specific regulations for digital platforms associated with entrepreneurship. To this end, she recommended establishing a general provision in the bill regulating such platforms. For the moment, the legislator did not provide further details but proposed creating an enforcement authority with the powers to control and regulate these digital platforms.