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Aging as a motor for social inclusion and economic recovery

The Inter-American Development Bank (IDB), with its innovation laboratory, BID Lab, they seek to support innovative solutions that empower the growing population of older adults to become an engine of social inclusion and economic recovery in the Latin American and Caribbean region. These proposals should have a focus on the poor and vulnerable population of older adults and should be implemented in one or more of the IDB’s 26 borrowing member countries.

The proposed business models should:

Be
• in nature and present a novel solution that has not been implemented before in the proposing country, or add an innovation component to an existing model.
• Promote the social and economic inclusion of the poor and vulnerable population of older adults with key indicators to measure results.
• path for scalability or replication, as well as the financial sustainability of the model.

Focus areas and guiding questions

• Health and care services to dependency: How can the quality of life of older adults be improved with high quality health care or dependency?
• Services and financial products: What new or adapted financial products and services can improve the lives of older adults by reducing digital barriers?
• Employment and training: What kind of solutions can you promote the employment and entrepreneurial spirit of older adults to take advantage of their valuable knowledge and maintain their sources of income?
• Housing and transportation (mobility): How can new housing solutions incorporate the needs of older adults with limited financial resources? How can older adults continue to use transport services to maintain an independent life?

Awards

There will be two categories of applications:

Category A: BID Lab Financial Support

IDB Lab may consider the Applicants whose proposals are selected to receive financing to implement the proposed business model in one of the 26 IDB borrowing member countries.

Financial instruments include “Donation” (non-refundable) and/or “Contingent Recovery Financing” (repayable) and/or “Loan” (repayable).

Category B: Honorific Mention  

The selected applications will have the opportunity to show their solution through various channels. Acceleration and ecosystem building: How can startups or technology-based businesses (fintech, edu-tech, etc.) focus on including older adults in their client base?

Who can present applications?

• They can participate in applications from any of the 48 member countries of the IDB Group, including emerging companies with solutions. “Ready to implement”, small and medium-sized enterprises (SMEs), corporations, NGOs, public innovation agencies, accelerators and others with proven experience in focus areas.
• The legally registered Applicants in one of the 26 IDB borrowing countries where the project will be implemented can apply to Category A.  
• The legally registered Applicants in one of the 22 non-borrowing countries of the IDB can apply to Category A only if they do so in conjunction with a registered organization located in one of the 26 borrowing countries. where the project will be implemented, or may be applied to Category B, if the Applicant has no presence or alliances with organizations located in the 26 borrowing countries of the IDB.

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