Businesses crossed by artificial intelligence (AI) and the focus on sustainability are crucial for the new generation of entrepreneurs in Latin Americaaccording to what businessmen, investors and experts agreed during the third edition of the IDB Lab Forum, held this week in Argentina.
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Organized by IDB Lab, the innovation and venture capital laboratory of the Inter-American Development Bank (IDB), The event showed how AI, web 3.0 and other disruptive technologies are gaining ground in various economic sectors and are already part of many startups.‘ (emerging companies) in the region.
“AI could contribute up to 5.4% to the GDP of Latin America and the Caribbean by 2030, with the potential to transform key sectors such as health, education, agriculture and industry“said the IDB Vice President of Countries, Anabel González.
In this sense, González stated that “It is essential that public policies not only promote innovation, but also establish strong governance frameworks, foster trust in technology and ensure equitable distribution of benefits.“.
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“Recognizing these challenges and opportunities, the IDB is developing a strategic AI framework based on three pillars: institutions and governance, infrastructure and data, and talent development.“González noted.
Eric Acher, CEO of the Brazilian venture capital fund Monashees, observed that there is now a transition from the “incubation of AI towards its acceleration”, which marks that it is the “best time to invest” in projects with AI.
New technologies also impact the so-called ‘silver economy’. Agustina Catone, director of Responsible Business and Corporate Ethics at Telefónica Hispam, maintained that technology, including AI, must be understood as a “facilitator” of life and that technological entrepreneurs must “include the perspective of older adults” in their developments.
(See: This is the x-ray of Afro-entrepreneurship in Colombia)
IDB Lab Forum
EFE
Ecopreneurs
According to Anabel González, AI could facilitate the achievement of 93% of the environmental Sustainable Development Goals (SDGs).
(See more: Learn about 10 innovative projects that seek to protect the Amazon)
The urgency imposed by the fight against climate change is a driver of innovative business ideas in the region, projects that not only need funds for their developmentbut also public policies and cooperation.
“Exponential tools are needed to address exponential climate challenges. If we want to achieve it by doing it alone as startups, it is impossible. That’s why multipliers are needed.“said Helge Daebel, partner at Emerald, an international venture investment fund focused on environmentally-oriented technologies.
(Read: How to start from home: five steps to start a business in Colombia and Mexico)
Daebel maintained that, to attract funds, startups need to develop “innovative” business models, but they also require innovation ecosystems with a “high degree of collaboration.” between companies, investrsionists and institutions that share the risks.
IDB Lab Forum
EFE
Concrete boost to innovation
Within the framework of the event that this Thursday and Friday brought together some 600 participants in Buenos Aires, IDB Lab signed four agreements to promote innovation projects in Latin Americawith contributions totaling 6.7 million dollars.
The agreements aim support entrepreneurial initiatives in agrobiotechnology and agroindustrywaste reduction and human resources.
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IDB Lab Forum was also the setting for the presentation of the ten winners of the WeXchange Women STEMpreneurs 2024, a competition for female entrepreneurs in science, technology, engineering and mathematics in Latin America.
“This year, most applications and companies already have initial sales and many are already scaling to other countries. We have sized an investment opportunity of more than 300 million dollars“said Elizabeth Acuña, partner at AVP Ventures, a venture capital fund that led the selection process.
(See: Nine out of 10 entrepreneurs have optimized processes thanks to digitalization)
The women who lead these ‘startups’ in the fintech sector, businesses with impact in the fight against climate change and technological developments in the field of health They had the opportunity to present in Buenos Aires before venture capital investors and other key actors in the regional innovation ecosystem.
