- July 3, 2020
- Posted by: MPA
- Category: News & Press Releases
Message from Ms. Irene Arias Hofman, CEO, BID Lab:
The fight against Covid-19 in Latin America and the Caribbean is requiring the coordinated work of the public and private sectors. In a first phase of action, the IDB Lab launched a successful call for innovative solutions for the health emergency in which 20 prototype solutions were identified. At this time, we are focusing on the economic revival of vulnerable people and small businesses including startups, micro-enterprises and the self-employed. It is in this context that we are launching a program to support neighborhood stores in the region, which have been severely affected by the pandemic.
Neighborhood shops in the region provide jobs and income to millions of families in the region who keep them in operation, and they are the main access channel for vulnerable families in the region to obtain food, goods and essential services, including financial services through correspondent agents, utilities payments, and mobile phone top ups.
Given this situation, the IDB Lab has created, INTEcGRA, a dedicated window for the reception of innovative solutions that in the short term contribute to the continuity of the channel, and in the medium and long term, give resilience and economic growth to the stores and their owners and workers. Within this framework, I encourage Fintechs, accelerators, impact investors, startups and other actors in the innovation and entrepreneurship ecosystem of the region to send us their ideas and solution proposals.
The window, its funding lines, requirements, and proposal selection process are explained in detail in the attached description, which also includes the link to the application form.
This initiative has been developed by the IDB Lab, the IDB’s office of partnerships, and IDB Invest, and has Danone, Postobon, Pepsico, Arco, AbInBev, EFFEM (Mars), Coca Cola and ICBA as partners. We will receive proposals until September 30, 2020, on a rolling basis.
For more information view the Summary of the Initiative and Open Call.
