In response to rapid aging in Latin America and the Caribbean (LAC), the Arturo Sesana Foundation, IDB Lab, the innovation laboratory and venture capital of the Inter-American Development Bank (IDB), in collaboration with the IDB, the International Development Research Center (IDRC), and the Group for Analysis of Development (GRADE), have launched the initiative Silver Regionthe first multilateral fund aimed at financing innovative projects that improve care services and prevent dependency among people over 60 years of age in the region.
With the aim of promoting initiatives that transform the experience of aging, the first call for applications was opened Silver Regionwhich seeks to select 30 projects that will receive acceleration and around 4 of these will be able to receive financing of up to US$100,000.
Projects should improve the provision of long-term care services, prevent dependency among older people and train caregivers. Silver Region It stands out as a key initiative to address the care services market and, in this way, incubate a business ecosystem that will solve the problems of demographic change in Latin America and the Caribbean in the next decade.
In Argentina, population aging represents an unprecedented economic and social opportunity. According to the report Overview of ageing and dependency in Latin America and the Caribbeanpublished by the Inter-American Development Bank (IDB), it is projected that by 2050 people over 60 years of age will constitute 23.6% of the population, equivalent to more than 15 million people.
This growth opens the door for the country to position itself as a leader in the development of innovative solutions that not only improve the quality of life of older people, but also promote a business sector dedicated to caring for and meeting the needs of this population.
This call is aimed at startups, scaleups, social enterprises, foundations, NGOs, corporations and universities formally established in Latin America and the Caribbean, with at least one year of operation and sales records. In addition to financing, the program includes awareness-raising on gender issues and the silver economy, and a business acceleration program for the selected initiatives with the greatest potential for scalability.
“IDB Lab is committed to being the innovation hub in Latin America and the Caribbean that responds to the challenges of economic and social development with solutions that come mainly from entrepreneurship. This call turns the entrepreneurial ecosystem of our region into an active agent in building fairer and better societies.”said Erika Molina, IDB Lab specialist.
For her part, María Andrea Orduz, coordinator of the program, assures that “With 60% of the elderly population active in various areas, it is essential to support their significant contribution to society. Our first call for proposals focuses on increasing the offer of care services for the elderly in the region, seeking to transform this sector with great opportunities for improvement.”Additionally, Orduz adds: «We want to change the narrative of ageing by showing its business potential and economic growth through innovative and sustainable services».
Registrations to participate in Silver Region They are free and will be open until November 2, 2024 at www.innpactia.com/regionplateada
