Innovation and entrepreneurship provides opportunities for Guatemalan youth
Within the framework of the DINAMICA Initiative, a non-reimbursable technical cooperation for US $45 thousand was signed with SOCIALAB, promoting economic linkage and the innovation of business ideas between the countryside and the city in a more just and sustainable manner.
Guatemala, June 8, 2018.- The Central American Bank for Economic Integration (CABEI), as the executing entity of the Business Ideas and Acceleration Development Initiative of Central American MSMEs (DINAMICA), signed a non-reimbursable technical cooperation agreement for an amount of up to US $45,000.00 with SOCIALAB in Guatemala.
This financial support will strengthen enterprises that are characterized by being innovative, which have a potential to boost rural development and offer, in a sustainable and scalable way, solutions to the disarticulation between the urban and the rural.
The resources will be destined for the implementation of the project "Strengthening the Incubation of Sustainable and Innovative Enterprises focused on linking the Urban and Rural Territories through Disruptive Solutions," which aims to provide business, legal and market technical assistance to six entrepreneurs that guarantee an adequate management of the resources and responsibilities they undertake as entrepreneurs.
The selected entrepreneurs were those who demonstrated innovative/disruptive ideas, with scalability and social impact, as well as a projection to solve social problems in Guatemala.
SOCIALAB works in the development of innovation and social entrepreneurship, accompanying and promoting entrepreneurs, cooperatives or communities that have ideas or business models that can revert or mitigate social problems; to do so, they manage programs of access to seed capital and provide advice to develop products or services that contribute to the social, economic and cultural transformation of Guatemala.
DINAMICA is a Tripartite Initiative executed by CABEI, with the support of the German Cooperation through KfW through loans, and development cooperation funds of the European Union as part of its Latin America Investment Facility (LAIF), in order to strengthen the business ecosystem for MSMEs and especially for new, young and/or innovative MSMEs; and the strengthening of the financial sector at the regional level to promote adequate access to financial services for these MSMEs.
