InnovAction Challenge 2.0 ( Up to $50,000 and 6 months of follow-up business training)

InnovAction 2.0 is a regional innovation competition and support program aimed at empowering young social and economic entrepreneurs – especially those from Afro-descendent, Indigenous, people with disabilities, and other marginalized communities – in Latin America and the Caribbean.

The program will center on initiatives that address environmental resilience at different levels and sectors, by increasing energy efficiency and reducing emissions and/or protecting and managing natural resources. Innovations, new technologies, and nature-based solutions can help lessen negative impacts for marginalized communities.

InnovAction is a special category of the Talent and Innovation Competitions of the Americas (“TIC Americas”) a success-proven, annual program that has operated uninterruptedly since created in 2007. The InnovAction 2.0 challenge drives inclusive growth by accelerating current and new initiatives or businesses to increase the socio-economic participation of vulnerable groups. InnovAction 2.0 is organized by the Young Americas Business Trust in coordination and with sponsorship from the Inter-American Foundation, and assistance from national partners.

Categories

  • Increasing energy efficiency and reducing waste: They are seeking ideas for initiatives and new business models centered on reducing emissions by addressing waste, improving efficiency and eliminating leaks, or shifting production or sources of energy use. Examples could include solutions for:
    • Reducing or reclaiming food waste.
    • Switching to biogas for cooking.
    • Installing insulation or LED lighting.
    • Building green and cool roofs.
    • Capturing and digesting methane.
    • Managing refrigerants or methane leaks.
    • Building bicycle infrastructure, to name a few.
  • Protecting and managing natural resources: uplift natures’ absorption cycle: They are 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.
    • Enhancing soil fertility naturally.
    • Improving fisheries.
    • Producing biochar.
    • Promoting agroforestry and regenerative agriculture.
    • Encouraging diets rich in fruits, grains, and vegetables.
    • Ensuring Indigenous peoples´ forest tenure, among many others.

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 5 winners.
  • Possibility of obtaining personalized mentoring if you are among the 10 finalists, and much more.

Prizes

  • The top team will receive a prize package 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.

Eligibility

  • 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.
  • Citizens or legal residents of OAS Member States (with the exception of Canada, Cuba, the United States and Venezuela) 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.
  • Teams can be made up of a minimum of one (1) and a maximum of ten (10) members under 35 years of age.

Application Process

To register you must enter here, slide the cursor to the “Create account” form, fill out the required fields, choose the focus area according to your project, and click on the “Create account” button. You will receive an email message with a link to validate the account creation, and instructions to complete the registration.

After that you will be asked to send the following documents:

  • A form that will be given on the website where you will complete your complete business plan.
  • A visual portfolio, which includes evidence of activity or initiatives such as photographs, videos, newsletters, songs, comics, or artistic expressions.
  • An online presence (“web presence”), such as a website, blog, Facebook page, Instagram account, YouTube video channel, or similar.

Deadline: April 5, 2024

Apply here

 

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