(CMC) – The Inter-American Development Bank (IDB) has launched a call for proposals that will reward the most disruptive ventures in Latin America and the Caribbean that are using innovation to improve lives.
The Washington-based financial institution said the selected startups will participate in Demand Solutions Chile, which will take place on November 21 in Santiago, Chile.
Demand Solutions is the IDB’s flagship innovation event that brings together “the world’s most forward-thinking minds to share creative solutions to the development challenges in Latin America and the Caribbean,” the statement said.
In this edition, the IDB said startups can participate in two thematic areas.
In the first, they must provide solutions in four categories related to the cultural and creative industries:
— design with social sense: sustainable fashion, smart fashion, urban art, wearable technology;
— and multimedia that improves lives: videogames, digital content, audiovisual content.
The other categories are:
— New technologies: 3D printing, blockchain, internet of things, artificial intelligence, machine learning, robotics;
— and export of services to global markets: production and commercialization of cultural content, export of goods and creative services.
The IDB said the 10 most innovative startups in the creative industries will be selected to participate in Demand Solutions Chile with all expenses paid for one representative per startup.
The first place will receive financial support to continue with its development, the IDB said.
Additionally, the IDB said this edition of Demand Solutions will also reward five startups that provide solutions to water and sanitation challenges in the region.
Since 2009, the IDB said along with Fundación FEMSA it was awarded the Water and Sanitation Prize for Latin America and the Caribbean “to recognize and stimulate the most innovative solutions in the water, sanitation and solid waste sectors.”
The startups interested in participating in Demand Solutions must present a solution proposal to a development challenge before July 15, the IDB said.
It said the representatives must be over 18 years old.
Winners will be notified by mail in early September 2018.