Technology

An Ecosystem of Connectivity & Capability

Empowering Innovation and Technology from Start-Ups to Global Tech Leaders

With island-wide 5G broadband, advanced LoRa network capabilities and extensive satellite connections, Puerto Rico boasts a communication infrastructure that seamlessly links businesses with suppliers, customers and partners. At the heart of this thriving tech ecosystem lies an exceptional pool of highly skilled technical talent, cultivated by renowned local universities, that extends its reach worldwide.

20.5K

STEM graduates in 2021

600+

entrepreneurial tech companies

22K

direct jobs created

CONNECT WITH BUSINESS DEVELOPMENT

Companies Already Doing Business in Puerto Rico

Tax Incentives for Information and Communications Technology (ICT) Companies

Under Act 60, International Financial Entities (IFEs) benefit from attractive incentives. They qualify for a reduced 6% income tax rate on distributions to resident shareholders or members, while enjoying a full exemption on distributions to nonresident shareholders and members. Act 60 plays a crucial role in fostering a favorable environment for IFEs and attracting international financial businesses to Puerto Rico.
Act 60 supports the use and sale of utility tokens as software. It also allows 0% capital gains tax on crypto assets, encouraging blockchain technology investment.

Information and Communications Technology (ICT) Companies Make the Connections

Puerto Rico is home to various technology innovation centers and startup hubs, fostering a vibrant ecosystem for tech companies. The island is rapidly gaining recognition as one of the top 10 ICT company destinations, with the biggest ICT companies establishing a presence here, including Cisco, Oracle, and Hewlett-Packard. Puerto Rico software development is another growing sector, driving innovation and economic growth.

Each industry player leverages the island’s top-notch talent and attractive software export incentives. Other assets include:

Broadband connectivity in urban and rural areas
Ample wireless connectivity
Major investments in climate-resilient data delivery, to ensure service continuity in changing weather conditions
Currently, there are three 5G networks with more on the way

World-Class Research Labs in Puerto Rico

The University of Puerto Rico supports research and developments in bioinformatics with its Bioinformatics Lab at the Río Piedras Campus
The University of Puerto Rico’s ARL Lab at the Medical Sciences Campus focuses on research that applies artificial intelligence to biomedical sciences
Other research facilities include:
- Puerto Rico Science, Technology and Research Trust
- Bioprocess Development and Training Complex
- UPR Molecular Sciences and Research Center
- FDA lab in San Juan
- Ponce Research Institute
- Center for Collaborative Research in Health Disparities
- Caribbean Primate Research Center
- Caribbean Genome Center
- Center for Pharmaceutical Engineering Development and Learning
- Science & Technology Research Development Center
- Comprehensive Cancer Center
- Sustainable Energy Research Center and Microgrid Laboratory
- Center for the Advancement of Wearable Technology
- Center for Teaching and Researching in Agricultural Biotechnology
- Agricultural Research Centers
- University of Puerto Rico, specifically the Río Piedras, Mayagüez and Humacao campuses
- Polytechnic University of Puerto Rico
- Engine-4
Act 60 provides tax credits for up to 50% of R&D expenditures

Connecting to the Internet of Things

What is the Internet of Things? The Internet of Things (IoT) describes the network of physical objects that are embedded with sensors, software, or other technology. This network has applications in smart cities, industrial process improvement and ultra-high-speed security systems. Puerto Rico AI and cyber security companies are at the forefront of technological advancements, contributing to the island’s reputation as one of the emerging tech cities. The island is also becoming one of the top SaaS hubs, attracting technology companies from around the world.

Sigfox, the world’s leading IoT provider, expanded its 0G network to include Puerto Rico. This brings Puerto Rico into a low-power, low-cost, long-range network that spans more than 1.1 billion people and 70 countries.
Everynet launched a long-range, low-power, wide-area network (LoRaWAN) in Puerto Rico, giving the island the only open network of its kind in the United States.
Puerto Rico 5G Zone is advancing the transformation of physical industries by powering Smart Cities, Smart Logistics and Advanced Manufacturing.
The Center for the Advancement of Wearable Technologies (CAWT) at the University of Puerto Rico designs and develops wearable technologies that monitor and diagnose health outcomes.

Blockchain Investments

The island has become a global destination for blockchain pioneers focused on cryptocurrency.

A government-backed advisory board is exploring blockchain’s role in economic development strategies
The San Juan Mercantile Bank & Trust International is open to cryptocurrency traders

Fintech Finds Fertile Ground

Fintech is projected to grow at an annual rate of 29% through 2024. Puerto Rico provides excellent local talent, high financial literacy and attractive tax incentives to support these growing companies.

In 2022, Evertec was the top provider of payment processing services in Latin America, exporting financial services to 26 countries around the world.
Puerto Rico is leading the way in helping fintech, insurtech and blockchain become more predominant as current efforts are focused on promoting the development of digital assets based on blockchain tech.

Finance & Insurance Sector Page