Young Americas Business Trust

YOUTH UNEMPLOYMENT IN LATIN AMERICA AND THE CARIBBEAN IS HIGH COMPARED TO OTHER REGIONS IN THE WORLD, AND HAS WORSENED DUE TO THE COVID-19 PANDEMIC. ON TOP OF THAT, YOUNG PEOPLE WILL BEAR THE BRUNT OF CURRENT AND FUTURE CLIMATE CHALLENGES IN THE REGION. THE IAF PROMOTES YOUTH-LED EMPLOYMENT CREATION AND THE SUSTAINABLE MANAGEMENT OF NATURAL RESOURCES. OUR PARTNER THE YOUNG AMERICAS BUSINESS TRUST (YABT) WILL LAUNCH THE INNOVATION IN ACTION CHALLENGE FUND (INNOVACTION 2.0) TO CREATE YOUTH-LED ENTREPRENEURSHIP THAT SUPPORTS INITIATIVES THAT REDUCE IMPACTS ON THE ENVIRONMENT AND ECOSYSTEMS, THE RISKS OF CLIMATE SHOCKS, EMISSIONS, AND ENERGY USE. AS PART OF INNOVACTION 2.0, AND IN CLOSE COLLABORATION WITH THE IAF, YABT WILL PROVIDE BUSINESS TRAINING TO HUNDREDS OF YOUTH THROUGHOUT LATIN AMERICA AND THE CARIBBEAN, ENGAGING A VOLUNTEER NETWORK OF EXPERTS TO EVALUATE IDEAS AND SELECTING THE BEST PROPOSALS FOR FURTHER MENTORING. SPECIALIZED BUSINESS MENTORING AND PRIZE MONEY WILL BE AWARDED TO WINNING BUSINESS IDEAS TO REDUCE GREENHOUSE GASSES IN THE ATMOSPHERE BY LOWERING EMISSIONS AND PROMOTING THE HEALTH OF FORESTS, OCEANS, AND OTHER NATURAL RESERVOIRS THAT ABSORB CARBON. THIS COOPERATIVE AGREEMENT ADVANCES THE IAF?S STRATEGIC INITIATIVE TO PROMOTE THE ECONOMIC AND SOCIAL INCLUSION AND HUMAN RIGHTS OF HISTORICALLY MARGINALIZED POPULATIONS.

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.