With the support of IDB Lab, a group of organizations launched Silver Region, the first multilateral fund intended for finance startups and organizations focused on the silver economy. This is a program that will select projects that promote the care of older adults.
The initiative seeks to meet the demand of the people of the elderly, summoning transformative proposals that improve the economic and life experience of said sector of the population.
In Argentina, he population aging represents an unprecedented economic and social opportunity. According to the report Panorama of aging and dependency in Latin America and the Caribbean, published 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 populationwhich is equivalent to more than 15 million people.
Given this, the innovation arm and venture capital of the Inter-American Development Bank (IDB Lab) joined the Arturo Sesana Foundation, to the International Development Research Center (IDRC) and to Analysis Group for Development (GRADE)to launch the initiative aimed at financing projects that improve care services and dependency prevention for older people in the region.
They launch a call to finance projects on the silver economy
In the first call of the fund they will select 30 projects that will receive acceleration. Eventually, around 4 of these proposals will be able to access financing up to US$100,000. The call is directed to startups, scaleups, social enterprises, foundations, NGOs, corporations and universities formally established in the region, with at least one year of operation and sales record.
From IDB Lab highlighted that the growth of aging “opens the door for Argentina 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 the care and satisfaction of needs of this population. Registration to participate in the program is free and will be open until November 2, 2024.
“The bet of IDB Lab is to be 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 to build fairer and better societies,” he said. Erika Molina, specialist of IDB Lab.
The projects must aim to improve the supply of health services. long-term care, prevent dependency of the elderly and train caregivers. “Region Plateada 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,” they noted in a statement. .
María Andrea Orduz, coordinator of the program, assured that “with a 60% of the elderly population active in various areas, it is essential to support their significant contribution to society. “Our first call focuses on increasing the offer of care services for older people in the region, seeking to transform this sector with great opportunities for improvement.”
In addition to financing, the program includes awareness-raising on gender and silver economy issues, and a business acceleration program for selected initiatives with the greatest potential for scalability. “We want change the aging narrative showing your business potential and economic growth through innovative and sustainable services,” Orduz added.
Source: Ambito
