WASHINGTON, CMC – The IDB Lab, the innovation lab of the Inter-American Development Bank (IDB) Group, has launched a new initiative that will act as a bridge between Latin America and the Caribbean (LAC), enabling U.S. companies to find opportunities in the South.
The IDB Lab said the initiative is being undertaken in collaboration with TechnoArt, the global platform for the growth of technology startups.
It describes Miami LAC Gateway as the alliance’s first program specifically designed for Latin American and Caribbean companies that want to venture into the U.S. market. It adds that U.S.-based companies looking for expansion opportunities in Latin America and the Caribbean will also benefit from the initiative.
By establishing a strategic base of operations in Miami, startups will be able to grow their businesses by leveraging IDB Lab and TechnoArt’s network of contacts. The program will facilitate entrepreneurs’ connections with local investors, startups, accelerators, service providers, and experts in the companies’ business areas. It will foster growth opportunities and help entrepreneurs acquire new clients, identify strategic partners and access capital to grow their businesses.
IDB Lab and TechnoArt are simultaneously launching the Gateway platform, which will allow companies to access a global marketplace and sell their products online.
Companies wishing to participate in the program must demonstrate their ability to scale, have a technological base, and have an innovative business model. Startups whose teams are inclusive in terms of gender and diversity will receive special consideration.
“This program supports Latin American and Caribbean startups in their foray into the U.S. market and U.S.-based companies exploring new avenues of entry into our region.
Gateway will create impact by bridging the Americas, which will open up investment opportunities and new ways to support the growth of innovative ecosystems,” said Irene Arias Hofman, UDB Lab’s chief executive of offiTristan.
Jehan, TechnoArt’s general manager, said the company looks forward to meeting the startups and supporting them through its regional connections.
“We believe this program will open new growth opportunities for Latin America and Caribbean-based companies and the Miami regional ecosystem. We are delighted to facilitate this exciting initiative.”
The two partners said Miami’s economic and technological momentum and its many commonalities with Latin America and the Caribbean provide an ideal backdrop for connecting U.S. capital and expertise with emerging talent and innovation from Latin America and the Caribbean.
They said the program also opens opportunities for the city of Miami, which will benefit from building bridges with the South, making it easier to attract more investors and capital and expand its technology companies.
According to a report published by IDB Lab, Miami startups that have decided to go international create more value than those focused solely on the domestic market.
“We welcome the Miami LAC Gateway to Miami-Dade County, a growing tech and innovation hub in the USA,” said Miami-Dade County Mayor Daniella Levine Cava.
“Our vibrant tech ecosystem and strong ties with Latin America make us the perfect location for programs like this, which provide new companies and skilled entrepreneurs with a base to scale their businesses and build their professional homes in our innovative tech hub County.”
Miami Mayor Francis Suarez congratulated IDB Lab and TechnoArt for launching the program in the city:
“This is an excellent opportunity for growth-stage companies to become part of Miami’s expanding technology ecosystem. We welcome new companies looking to make their home in Miami and thank IDB Lab and TechnoArt for choosing Miami as the hub for this extraordinary program,” he said.
The Gateway program is supported by renowned partners, including Mastercard and regional investors Blumberg Capital, Liquidity Group, H2O, Ignia, and Femsa.
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