Project Description
The COVID-19 pandemic and ensuing economic crisis has exacerbated existing inequalities in Latin America, with a disproportionate effect on women, youth, Afro-descendant, Indigenous, and other marginalized populations. At the IAF, we support community-led approaches to creating economic opportunity. Together with our cooperator, the Young Americas Business Trust (YABT), we will launch the InnovAction Challenge competition, which invites young adult entrepreneurs to submit their business ideas that respond to the needs of grassroots communities resulting from COVID-19. The InnovAction Challenge will identify 20 finalists and four winners, who will each receive a awards package valued at $15,000 in seed capital and technical assistance combined to launch or grow their businesses. The initiative will also catalyze a larger private sector response to the crisis.
| Project: | Location: | Years active: | IAF grant funding: | Counterpart commitment: | Direct beneficiaries: | Indirect beneficiaries: | Program areas: |
|---|---|---|---|---|---|---|---|
| InnovAction Competition | Regional | 2020 – 2021 | $94,600 | $1,032,981 | 750 individuals | 1500 individuals | Enterprise Development and Job Skills |
Talk about community-led development!
Recent News and Stories
4 Lessons from 40+ Years of Grassroots Engagement: Marcy Kelley’s Exit Interview
On the eve of her retirement after 17 years at the IAF, we asked Marcy Kelley to reflect on the lessons she has learned from her four decades of international grassroots development experience. Before joining the IAF, Marcy spent 26 years facilitating grassroots development with organizations including the Peace Corps. Read more ›
The IAF and Fine Chocolate Industry Association: Partnering to Help Cocoa Producers Improve Their Lives
Latin American cocoa farmers are reeling from the combined impact of COVID-19 and recent hurricanes. We are teaming up with the Fine Chocolate Industry Association to help them restart their livelihoods and build strong networks.
Staying Connected During Quarantine
The COVID-19 pandemic has worsened pre-existing inequalities experienced by vulnerable groups. Our grantee partners have found that increasing access to technology helps address these issues, connecting people to jobs, education, and social support.