Mateo Monsalve developed a program called Gobe-Grants at his university in Ecuador to provide funding for students. There was a lack of funding for undergraduate research and student entrepreneurs. Gobe-Grants provides two types of funding: research grants for projects and competitions, and entrepreneurship loans for starting businesses. Applications have increased since launching in November 2014. The program has funded 12 research projects leading to competition wins. Entrepreneurship loans were all repaid, generating profit to reinvest in more funding.