2010 Regional DM - Latin America and the Caribbean: Youth Development Opportunities
The Development Marketplace for Latin America and the Caribbean Region (DM LAC) is a competitive grant program administered by the World Bank and supported by various partners such as the Organization of American States- Young Americas Business Trust (OAS-YABT) and the Inter-American Development Bank-Multilateral Investment Fund (IDB-MIF), among others.
This years regional competition focused on youth entrepreneurship.
There were 44 finalists identified for the second round of the competition from an original pool of 530 proposals. The participants met in Bogotá, Colombia from the 11-14th April to showcase their ideas to panels of international judges and the general public. This event included knowledge exchange and capacity building sessions as well as networking opportunities that helped develop partnerships, contacts and build friendships. At the end of the competition, 14 projects were awarded grants from 8 different countries: Argentina, Chile, Colombia, Ecuador, Guatemala, Jamaica, Nicaragua and Perú The winners will receive prizes for up to $35,000 dollars and will be able to implement their projects over the next year.
The DM identifies and funds innovative, early-stage projects with high potential for development impact. Since its inception in 1998, DM has awarded roughly US$40 million to more than 1,000 projects through global, regional and country-level Marketplaces. Using DM funding as a launching pad, many projects go on to scale up or replicate elsewhere.
The organizers would like to thank all the finalists for their participation. We were impressed at the drive and passion on display and we hope that this event is not an end but the beginning of new friendships and alliances.