Details
Apply for the InnovAction Challenge 2.0
The InnovAction Challenge 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 (“YABT” or Organizer) in coordination and with sponsorship from the Inter-American Foundation (“IAF”or Co-Organizer), and assistance from national partners.
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Categories
- Increasing energy efficiency and reducing waste: They’re seeking ideas for 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,
- building green and cool roofs,
- capturing and digesting methane,
- managing refrigerants or methane leaks, and
- building bicycle infrastructure, to name a few.
- Protecting and managing natural resources: uplift natures’ absorption cycle: 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,
- enhancing soil fertility naturally,
- improving fisheries,
- producing biochar,
- promoting agroforestry and regenerative agriculture,
- encouraging diets rich in fruits, grains, and vegetables, and
- ensuring Indigenous peoples´ forest tenure, among many others.
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Benefits of the InnovAction Challenge
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 (“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.
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Eligibility Criteria for the InnovAction Challenge
Registration and participation in InnovAction’s business training components, including BOOT Camp, is available to everyone at no cost. In order to compete in InnovAction 2.0 and be eligible to win, competing teams (“Teams”) must meet the following criteria:
- Be composed of a minimum of one and a maximum of ten young people under 35 years old.
- Register a profile (“Team Profile”) on the website, www.ticamericas.net/innova/en (“Website”) including the following information:
- Names, contact information, and roles of all team members (“Team Members”).
- Team name
- Business plan summary – to be made publicly available.
- Website and social media accounts, if available.
- Establish/assign leadership roles, including:
- A Chief Executive Officer CEO: Team lead, main decision maker and primary contact for all communications related to InnovAction 2.0. If a Team consists of only one Team Member, she/he must be the CEO.
- Chief Financial Officer – Responsible for the budgetary and all financial operations.
- Chief Technical Officer – Manage operations and day-to-day activities of the business.
- Volunteer Mentor(s) (Optional) – Provide guidance and advice to the Team. See “Mentors”.
- Citizens or legal residents of OAS Member States. Multinational Teams may compete. Multinational teams shall register under the country of nationality or country of permanent residence of the CEO.
- Operate or plan to operate a business in an OAS Member State and be capable of formally registering the business in that country. Funds shall not be applied toward enterprises that operate in Canada, Cuba, the United States, and Venezuela. Formal business registration at the time of the competition is not an eligibility requirement and does not affect scoring.
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Application
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 our 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
Specifications
| Type of Opportunity | Competitions and Awards |
|---|---|
| Deadline | 05 April,2024 |
| Country | USA |
| Organizer | YABT |
| Contact the organizer | [email protected] |