InnovAction 2.0: Innovation Competition for Young Entrepreneurs

The program is focused on the participation of young social and economic entrepreneurs – especially from Afro-descendant, indigenous, LGBTQI, people with disabilities and other marginalized communities – from Latin America and the Caribbean.

Young entrepreneurs are playing and can continue to play a leading role in influencing and finding solutions to environmental challenges. This competition seeks to strengthen young people’s capacity to take action in the areas that matter most to them, whether it’s through reducing gas leaks, fostering eco-friendly transportation, protecting wetlands, or making building materials more energy efficient.

Categories

• Increasing efficiency and reducing waste
  • They’re seeking initiatives and new business models across multiple sectors that improve energy efficiency, address waste, or increase eco-friendly transportation options. Examples could include solutions for:
    • Reducing or reclaiming food waste.
    • Switching to biogas for cooking.
    • Installing insulation or LED lighting.
    • Constructing eco-friendly buildings.
    • Capturing and digesting methane.
• Protecting and managing natural resources
  • They’re looking for business ideas and initiatives to promote sustainable livelihoods and food security while maintaining healthy oceans, soil, and forests. Examples could include solutions for:
    • Protecting and restoring coasts, wetlands, or forests.
    • Farming seaweed.
    • Improving fisheries.
    • Producing biochar.
    • Promoting agroforestry and sustainable agriculture.
    • Encouraging diets rich in fruits, grains, and vegetables, among many others.

Prize Information

• The top team will receive a prize package (“Prize”) valued at US $20,000, including: US $10,000 cash from Capital Semilla; 6 months of follow-up business training; Promotion opportunities at high-level events, such as the OAS General Assemblies, Summits of the Americas and other similar spaces.
• There will also be prizes for the first and second best team per category, valued at US $15,000 and US $12,500 respectively.

Benefits

• You can access great benefits just by registering for free:
  • Live business training from international experts through BOOTCAMP.
  • Access to seed capital to finance your project.
  • Join a growing community of young entrepreneurs in the region.
  • International visibility of your project for investment opportunities.
  • Access to national and international strategic networks.
  • Continuous personalized support and training if you are among the 9 winners.
  • Possibility of obtaining personalized mentoring if you are among the 20 finalists, and much more.

Eligible Countries

• Citizens or legal residents of OAS Member States (with the exception of Canada, Cuba, the United States and Venezuela) and who are capable of formally registering a company in these countries may compete.
• Multinational teams will be able to compete. Multinational teams are registered in the country of nationality or country of permanent residence of the CEO.

Criteria

• Teams can be made up of a minimum of one (1) and a maximum of ten (10) members under 35 years of age.
• The team must choose the category that they consider to be in accordance with the objective and focus of the project, and register in it. In the event that the YABT team realizes that the focus chosen by the participants belongs to a different topic, a representative of the organization will contact the leader of said registered team to inform them of the change.

For more information, visit IAF.