Frequently Asked Questions
Participating in the InnovAction Challenge 2.0
The program is focused on the participation of young social and economic entrepreneurs – especially from Afro-descendant, indigenous, LGBTQI, people with disabilities and other marginalized communities – from Latin America and the Caribbean.
Citizens or legal residents of OAS Member States (with the exception of Canada, Cuba, the United States and Venezuela) and who are capable of formally registering a company in these countries may compete. Multinational teams will be able to compete. Multinational teams are registered in the country of nationality or country of permanent residence of the CEO.
Teams can be made up of a minimum of one (1) and a maximum of ten (10) members under 35 years of age.
No, the team must choose the category that they consider to be in accordance with the objective and focus of the project. In the event that the YABT team realizes that the focus chosen by the participants belongs to a different topic, a representative of the organization will contact the leader.
About resources in the InnovAction Challenge 2.0
Through the virtual training platform Business Opportunity Online Training Camp (BOOT Camp), coordinated by YABT, young entrepreneurs can connect with industry experts to develop strategies to design and implement their business solutions. In this way, the program serves as a business development support platform that provides opportunities for skill development, mentoring and visibility, helping young entrepreneurs establish, operate and potentially scale micro and small businesses.
It is the free resource center for young entrepreneurs that offers tools to develop business plans, financial viability, marketing strategies, planning, administration, finances and much more. The sessions are led by international experts who will address these and other topics to support you in the development of skills and strategies for your project. Access BOOTCamp at any time, here.
You will be able to consult the recorded session. However, it is recommended that you make every effort to participate live, as this allows participants to interact directly with the panelists and ask any questions about the topic of the session.
Yes, there will be a test of the online platform with the finalist teams, so that all participants feel comfortable and know the tools used during the virtual Finals. This session will provide additional guidance and preparation for understanding and using the online platform environment.
About the prizes in the InnovAction Challenge 2.0
You can access great benefits just by registering for free:
- Live business training from international experts through BOOTCAMP.
- Access to seed capital to finance your project.
- Join a growing community of young entrepreneurs in the region.
- International visibility of your project for investment opportunities.
- Access to national and international strategic networks.
- Continuous personalized support and training if you are among the 5 winners.
- Possibility of obtaining personalized mentoring if you are among the 10 finalists, and much more.
The top team will receive a prize package (“Prize”) valued at US$20,000, including: US$10,000 cash from Capital Semilla; 6 months of follow-up business training; Promotion opportunities at high-level events, such as the OAS General Assemblies, Summits of the Americas and other similar spaces.
There will also be prizes for the first and second best team per category, valued at US$15,000 and US$12,500 respectively.
About our allies in the InnovAction Challenge 2.0
We welcome contributions regardless of the nature of the actor, so if you are an organization or institution, you can also join and be part of this great project by promoting our competition and providing us with experts who can be nominated as judges, mentors or speakers in our BOOTCAMP.
If you want more information about how you can contribute as an organization or institution, contact us at ticamericas@yabt.net
There are no restrictions regarding the age, nationality, experience or education of the mentors. Mentors cannot participate or contribute directly to the Challenge.
The inclusion of mentors on a team is optional. Each team can identify and work directly with one or more mentors, without restrictions on their age, nationality, experience or education. Teams are recommended to mention/include their mentors in their project plan, if they have them.
About the competition in the InnovAction Challenge 2.0
The competition is divided into 3 rounds: 1.- Eligibility Round, 2.- Semi-Final Round and 3.- Final Round. To consult the details of each stage, access the rules.
To register you must enter here, slide the cursor to the “Create account” form, fill out the required fields, choose the focus area according to your project, and click on the “Create account” button. You will receive an email message with a link to validate the account creation, and instructions to complete the registration.
After that you will be asked to send the following documents:
- A form that will be given on our website where you will complete your complete business plan.
- A visual portfolio, which includes evidence of activity or initiatives such as photographs, videos, newsletters, songs, comics or artistic expressions.
- An online presence (“web presence”), such as a website, blog, Facebook page, Instagram account, YouTube video channel or similar.
Remember to check our delivery dates!
The registration deadline is April 15, 2024. However, it is recommended to register as soon as possible to access the benefits of BOOTCamp.
No, the Copyright of the project or project plan submitted to the competition will be the exclusive property of the team that proposes them.
YABT and IAF will convene a group of international experts from different sectors and disciplines to form the Panel of Judges for the Semi-Final Round and Final Round of the Competition, who will rate the projects.
A total of 20 teams will be selected to participate in the Finals.
About our communication in the InnovAction Challenge 2.0
The Finals of the InnovAction Challenge 2.0 and the rest of the categories of the Talent and Innovation Competitions of the Americas (TIC Americas), are planned to be held in virtual mode, so participants are requested to confirm their interest and availability to attend in the format required.
A fluid communication channel is always maintained via email, through: ticamericas@yabt.net. All information regarding your participation will be sent to the email address provided during registration. Teams are responsible for ensuring that email is functional and that content is read regularly.
Since much of the InnovAction Challenge takes place online, constant internet access is recommended during the process to ensure full participation.
The event will be carried out with live broadcasts, it is open to the general public.