The InnovAction Challenge 2.0 is a special category of the Talent and Innovation Competitions of the Americas (TIC Americas), an annual program that has been operating since it was created in 2007. This challenge aims to accelerate current and new initiatives or businesses that will increase the socio-economic participation of vulnerable groups, thereby driving sustainable growth. The InnovAction Challenge 2.0 will identify and award innovative solutions and new business models that contribute to energy efficiency and natural resource management in different sectors.
The Young Americas Business Trust (YABT) is the organization that manages this challenge. This program is focused on the participation of young social and economic entrepreneurs, especially those from Afro-descendant, indigenous, LGBTQI, people with disabilities, and other marginalized communities from Latin America and the Caribbean. The program is open to citizens or legal residents of OAS Member States, except Canada, Cuba, the United States, and Venezuela, who are capable of formally registering a company in these countries. Multinational teams are also eligible to compete.
The application deadline for the YABT InnovAction Challenge is April 5, 2024. If you qualify and are interested in applying, you can register for free and access great benefits. These benefits include live business training from international experts through BOOTCAMP, access to seed capital to finance your project, joining 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, and the possibility of obtaining personalized mentoring if you are among the 10 finalists, among others.
If you have any solutions or business models that contribute to energy efficiency and natural resource management in different sectors, you can participate in the YABT InnovAction Challenge. The challenge is looking for initiatives and new business models focused on reducing emissions by addressing waste, improving efficiency eliminating leaks, or shifting production or sources of energy use. Solutions for reducing or reclaiming food waste, switching to biogas for cooking, and installing insulation or LED lighting are some examples. Additionally, the challenge is also looking for business ideas and initiatives that promote sustainable livelihoods and food security while maintaining healthy oceans, soil, and forests. Some examples include protecting and restoring coasts, wetlands, or forests, farming seaweed, enhancing soil fertility naturally, and improving fisheries, among others.
The top team will receive a prize package valued at US $20,000, including US $10,000 cash from Capital Semilla, six months of follow-up business training, and 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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