NEW YORK– IDB Lab, the innovation lab of the Inter-American Development Bank (IDB) Group, and TechnoArt, the global platform for the growth of technology startups, launched the Miami LAC Gateway, the alliance’s first program specifically designed for Latin American and Caribbean companies to venture into the U.S. market. This was done in partnership with leading regional players including Univision Communications, Delta Airlines, PAG Law, PCGA, Lazo, Miami Exchange, FIU Miami Dade County, The Beacon Console, Venture Miami, MDIA and more.
U.S.-based companies looking for expansion opportunities in Latin America and the Caribbean will also benefit from the support of IDB Lab and TechnoArt.
By establishing a strategic base of operations in the city of Miami, startups will be able to grow their businesses by leveraging IDB Lab and TechnoArt’s networks of contacts. The program will facilitate entrepreneurs’ connections with local investors and startups, accelerators, service providers and experts in the companies’ business areas, which will foster growth opportunities and help entrepreneurs acquire new clients, identify strategic partners and access capital to enable their business growth. IDB Lab and TechnoArt are simultaneously launching the Gateway platform, which allows companies to access a global marketplace where they can sell their products online.
The participating companies have demonstrated their ability to scale, have a technological base and an innovative business model.
“This program supports Latin American and Caribbean startups in their foray into the U.S. market, as well as U.S.-based companies exploring new avenues of entry into our region. Gateway will create impact by bridging the Americas that will open up investment opportunities and new ways to support the growth of innovative ecosystems,” said Irene Arias Hofman, CEO of IDB Lab.
Mayor Daniella Levine Cava: “We welcome this opportunity to support the tech ecosystem as it grows and expands its operation in the region, and use our resources to provide new companies and skilled entrepreneurs with a base to scale their business and build the professional home in our innovative city.”
Tristan Jehan, GP at TechnoArt, added that “we look forward to meeting the startups and supporting them with our connections in the region. We believe this program will open up new growth opportunities for both Latin America and Caribbean-based companies and the Miami regional ecosystem. We are delighted to facilitate this exciting initiative.”
Miami’s economic and technological momentum and its many commonalities with Latin America and the Caribbean provide an ideal backdrop for connecting U.S. capital and expertise with emerging talent and innovation from Latin America and the Caribbean. The program also opens opportunities for the city of Miami, which will also benefit from building bridges with South America, making it easier to attract more investors and capital and expand its technology companies. According to a report published by IDB Lab, Miami startups that have decided to go international create 4.6 times more value than those focused solely on the domestic market. Miami Mayor Francis Suarez congratulated IDB Lab and TechnoArt for launching the program in the city: “This is an excellent opportunity for growth-stage companies to become part of Miami’s expanding technology ecosystem. We welcome new companies looking to make their home in Miami and thank IDB Lab and TechnoArt for choosing Miami as the hub for this extraordinary program,” he said.
Selina will provide an interim home for the companies and other benefits that will help them in the initial stage of establishing their professional home in the US.
Selina Co-founder and CEO, Rafael Museri said: “This is one more way where Selina, TechnoArt and the Inter America Bank collaborate to support entrepreneurs in their quest for new markets. We are very excited to support these startups through mentorship, access and accommodation and help them scale their business around the world.”
