MICROCAPITAL BRIEF: Centraal, Google, IDB Lab Seeking Applicants for LAC Women Founders Accelerator Program Through September 12

Three organizations recently launched the LAC Women Founders Accelerator Program “for STEM [science, technology, engineering and mathematics] startups led by women in Latin America and the Caribbean [LAC]”: (1) Centraal, “a coworking space, a meeting place, and home to a number of startups” in Mexico; (2) US-based technology firm Google; and (3) IDB Lab, a member of the Inter-American Development Bank (IDB) Group. Twenty startups will be selected to participate in the 10-week program, which includes mentorship; a “Demo Day,” during which entrepreneurs can pitch their startups to investors; and workshops regarding business culture, digital marketing, fundraising, leadership and technology. Interested entrepreneurs have until September 12, 2021 to apply via WeXchange, IDB Lab’s platform “that connects women entrepreneurs from Latin America and the Caribbean with mentors and investors.”

As of 2021, Google’s services are available in 219 countries. Alphabet, the parent company of Google, reported net income of USD 40.3 billion during the year ending December 31, 2020 and total assets of USD 320 billion.

The IDB Group comprises IDB; the Inter-American Investment Corporation, which uses the trade name IDB Invest; and the Multilateral Investment Fund, which uses the trade name IDB Lab. IDB Invest is active in agriculture, financial inclusion, sustainable energy and transportation. As of June 2020, it had USD 13 billion in assets under management, deployed via 385 clients in 25 countries. Established in 1993, IDB Lab is an “innovation lab” that tests models for facilitating growth that is inclusive of “vulnerable people affected by economic, social or environmental factors.” During the third quarter of 2020, IDB Lab approved 16 projects with a total value of USD 9.5 million.

Established in 1959, IDB seeks to promote “environmentally friendly” economic development via improved health, education and infrastructure in Latin America and the Caribbean. During 2020, it reports having issued USD 14 billion in loans and grants, ending the year with assets of USD 152 billion.

By Harriet Ritchie, Research Associate

Sources and Additional Resources

IDB press release
https://www.iadb.org/en/news/idb-lab-and-google-launch-acceleration-program-women-entrepreneurs-stem

WeXchange homepage
https://wexchange.co/

Centraal homepage
https://centraal.com/

Google coverage of Centraal
https://blog.google/outreach-initiatives/entrepreneurs/google-startups-americas-partner-summit/

Google profile
https://about.google/

Alphabet 2020 annual report
https://abc.xyz/investor/static/pdf/2020_alphabet_annual_report.pdf

IDB Lab homepage
https://bidlab.org/

IDB 2020 annual report
https://publications.iadb.org/publications/english/document/Inter-American-Development-Bank-Annual-Report-2020-The-Year-in-Review.pdf

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