Juan Camargo, a Brigham Young University alum, is on a mission to build better businesses. From Bucaramanga, Colombia, Camargo was born to entrepreneur parents and has dedicated his career to improving business by supporting small-business entrepreneurs in Latin America. For his efforts, Camargo was recognized as a finalist for the Schwarzman Scholarship, a prestigious award for a fully-funded one-year master’s in global affairs at Beijing’s Tsinghua University.
“The Schwarzman Scholars program has a very strong emphasis on leadership and on developing the leaders of the future and giving a broader understanding of China,” Camargo said. “I plan to take the entrepreneurship course path while getting my master’s in global affairs. The program helps to build stronger leaders in the future and to bridge gaps between China and the rest of the world.”
Camargo is the general manager at Elevate Colombia, a firm that partners with financial institutions in Latin America to provide support and consulting services for small business owners. Consultants at Elevate, called Elevateros, personally help entrepreneurs through a six-month program to improve their financial status, organize their business, and get out of debt.
“It’s tough to be an entrepreneur in an emerging economy,” Camargo said. “We get a variety of clients at Elevate, but our main focus is on necessity entrepreneurs—people that build their own businesses because of scarce employment opportunities. Necessity entrepreneurs are common in Latin American countries, and these people have to start from scratch because they have a need to sustain their families. At Elevate, we help many necessity entrepreneurs develop their businesses and give them a competitive edge.”
Camargo got his start at Elevate when the company held a case competition for Peru through BYU’s Ballard Center for Social Impact. At the competition, Camargo approached the CEO and CFO of Elevate and asked about any employment opportunities.
“I remember feeling intimidated, and I was shaking a little bit when I approached them,” Camargo said. “They told me they didn’t have any positions available, but they said to stop by and visit if I’m ever in Colombia. A couple months later, they posted an internship opportunity in Bogota. So, I jumped on it. I applied and ended up as an intern in 2019. I fell in love with [Elevate’s] social mission, and I really enjoy working here.”
Camargo first learned about BYU when his family was introduced to The Church of Jesus Christ of Latter-day Saints in Colombia. The family joined the Church around the time Camargo’s father passed away. About six years later, when Camargo was 18, he learned of the opportunity to study abroad. He first studied at BYU-Idaho before transferring to BYU.
“I saw the study abroad as a great opportunity to bring back what I learned to Colombia," Camargo said.
As the Latin American economy develops, China’s economic influence in the region is steadily increasing. Camargo considered the Schwarzman Scholarship program an opportunity to better support entrepreneurs in Latin America’s emerging economy.
“In recent years, China has become one of the main commercial partners to the region, and there's a lot of business happening between Latin America and China,” Camargo said. “If you don't understand China’s economic ecosystem, you will be behind in the competitive market. In order to help entrepreneurs get ahead, I want to bring that economic understanding into the region through my study at Tsinghua University.”
While Camargo had an interest in the field due to his major in economics and minor in international development, his first introduction to the program was during his senior year at BYU. Camargo first learned about the Schwarzman Scholarship from Cory Leonard, the associate director of the Kennedy Center for International Studies. His interest in the program grew as he learned more about it. While the application process was very involved, Camargo was drawn to the opportunity.
“To anyone interested in applying, I say just do it! It seems intimidating at first, going for this scholarship with the most prepared leaders in the world,” Camargo said. “You may think you're not able to achieve it or your story is not compelling enough, but I think you need to give your story a shot and trust the process. Trust in what you have done in the past and what you're looking to do in the future, so just do it, and don’t wait.”
Established in 2015, the Schwarzman Scholarship admits up to 200 students from around the world, immersing them in Chinese culture and policy. Speaking Chinese is not a requirement to receive the scholarship. Those that are considered for this program are recognized not only for their academic ability, but for their entrepreneurial and leadership spirit, ability to anticipate emerging trends, and desire to understand other cultures and perspectives. Chosen candidates get the opportunity to learn from a high-quality curriculum, gain leadership experience, and network with high-caliber global leaders.
To learn more about the Schwarzman scholarship, visit ugrad.byu.edu/scholarships/schwarzman-scholarship.