Alliance of the IDB and Telefónica will promote entrepreneurship in Latin America

The president of the Inter-American Development Bank (IDB), Mauricio Claver-Carone; and the executive president of Telefónica, José María Álvarez-Pallete made an announcement that aims to promote entrepreneurship in Latin America that is associated with transformation and digital development.

They launched CIV-LAC, a regional corporate entrepreneurship platform that will help scale around 600 startups through open innovation processes with large and medium-sized Spanish and Latin American companies.

The initiative, led by BID Lab and Wayra, will facilitate access to commercial networks, resources and knowledge to benefit startups characterized by technologies or business models with high socio-environmental impact.

As the IDB explained in a statement: “it will foster ties with corporations that support the use of these solutions through collaborative innovation and investment projects. 60% of the technological solutions that this platform will promote will be allocated to vulnerable communities and the remaining 40% it will aim to improve the environmental impact. “

This alliance between the IDB and Telefónica covers different areas such as: training with courses on artificial intelligence and Big Data; employability; migration; and the ethical and responsible use of technology. From time to time, Telefónica will collaborate with IDB Lab and IDB Invest.

“The IDB will continue to advance inclusive digitization in Latin America and the Caribbean because we recognize the importance of maximizing the use of and access to technology to create jobs and new opportunities for students, entrepreneurs, and leaders of micro, small and medium enterprises. We hope to strengthen our alliance with Telefónica to bring new solutions that help advance sustainable development in our region, ”said IDB President Mauricio Claver-Carone.

“This alliance and collaboration allows us to maximize our contribution to a fairer socioeconomic development, through a green and inclusive digitization of the region, which helps to reduce the gaps and help entrepreneurs and corporations establish themselves at the forefront of the digital world. ”Said José María Álvarez-Pallete, president of Telefónica.

Both characters met at the Telefónica headquarters in Madrid where they reviewed the progress of other key projects: the Destino Empleo program in Chile and the employability and Internet for All (IpT) program in Peru.

They explained that during the meeting they discussed the possibility of expanding the success of IpT Peru to Ecuador and Colombia. “To date, IpT Peru has improved connectivity to more than 3 million people in remote populations,” they highlighted in Telefónica.

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