I3 LATAM AcceleratorCatalyzing the growth of the most innovative social businesses in Latin America and the Caribbean
|Application deadline||Oct 14|
|Program dates||Jan 1 - Jun 30|
|Location||Mexico City, Estado de México, Mexico|
|Targets||Latin America and the Caribbean|
Agribusiness, Business services, Clean technology and energy, Utilities, Construction and manufacturing, Manufacturing, Creative, media and entertainment, Education, Financial services, Healthcare, ICT, Leisure and travel, Retail and wholesale, Consumer non-durables, Transport and logistics, Water, sanitation and hygiene, Cars, Household appliances, Luxury goods and jewelry
Applications closed until June 2020. We will reopen them for the 2021 I3 LATAM generation.
The PES LATAM program offers support for established social entrepreneurs by sponsoring their participation in the I3 LATAM acceleration program.
I3 LATAM is a program offered by New Ventures that helps social entrepreneurs scale their business. Through an acceleration program of six months, we give participants tools to optimize their strategies and link them with funding sources to increase the depth and quality of their impact.
I3 LATAM entrepreneurs become part of Latin America’s largest network of social businesses. Over the last four years, the combination between technical assistance and connections has allowed participants to raise an additional $16.5M USD in funding, generate an additional $14.5M USD in net savings for the base of the pyramid, and impact 1 million additional people.
What do we offer?
We provide strategic support, mentorship, business development, and link entrepreneurs with potential funding sources. The selected entrepreneurs work with the New Ventures’ team to identify their most pressing challenges and design a critical route to overcome them. They are given an opportunity to pitch at FLII, the largest Impact Investing conference in Latin America, and are given continuous support over a four-month period. The program ends with a closing trip where the entrepreneurs and program allies design a post-program strategy to ensure the long-term sustainability of the entrepreneurs’ venture.
Entrepreneurs selected to participate in I3 LATAM as part of the PES LATAM program also gain access to a wider range of support initiatives offered by New Ventures and other program partners. Learn more by visiting this page!
Who are we looking for?
This initiative of PES LATAM targets established social entrepreneurs from across Latin America and the Caribbean working in any sector who need strategic coaching to accelerate their growth and support in identifying and accessing funding opportunities.
To become part of PES LATAM, you need to meet these basic eligibility criteria:
- Your organization creates a clear social impact
- Your organization adopts a market-based or hybrid approach and is financially sustainable, or has the potential to become so in the near future
- Your organization is formally established in your country/countries of operations
- At least 50% of your operations are based in Latin America and the Caribbean (including Mexico, excluding Brazil)
- You have started to generate revenue
- At least 30% of your users/beneficiaries can be classified as poor or very poor
Beyond these program-wide requirements, I3 LATAM is looking for high-impact entrepreneurs who:
- Have an established business model with potential to scale
- Are looking to obtain external, commercial funding
How and when can you apply?
You can apply for the I3 LATAM program from this page until September 30th, 2019. This is the cutoff date to be considered for the upcoming cohort of I3 LATAM participants.
After this date, you will still be able to apply for the broader PES LATAM program (including future cohorts of I3 LATAM participants) throughout the year. For more information, visit this page.
What happens next?
Applications will be reviewed starting in October and shortlisted candidates will be contacted for an interview. The final participant selection will happen in December 2019.
The 2020 I3 LATAM program will run between January-June 2020, with the following structure and timeline (subject to change):
- January 2020: Initial diagnosis of key challenges
- February 2020: Kickoff trip at FLII X in Merida, Yucatan
- February-June 2020: Acceleration
- June 2020: Closing trip
Even if you are not selected for I3 LATAM, we may consider you for other support initiatives within the PES LATAM program based on your profile. We may also offer you access to open-source resources, connect you with other support opportunities in line with your needs, and/or possibly invite you to reapply at a later stage.
About New Ventures
Since its inception in 2004, New Ventures has catalyzed the growth of social and environmental businesses through an impact accelerator and an impact investing fund. It has directly worked with 1000+ entrepreneurs, has invested $25M USD + in 10 social businesses through Adobe Capital, and organizes the Latin American Impact Investing Forum (FLII) every year.
Questions? For more information please contact email@example.com
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