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Mexican Innovators Earn Grants For Development Work



Published on 19 April 2014



by Office of the Spokesperson

(WireNews)

Mexico City, Mexico

To foster innovation in Mexico, U.S. Agency for International Development Administrator Rajiv Shah, U.S. Ambassador to Mexico Earl Anthony Wayne and Mexican Secretary of Economy Ildefonso Guajardo awarded four Mexican entrepreneurs with grants through USAID’s Innovation Fund for the Americas.

At an April 16 event in Mexico City announcing the grants, Shah said, “We must continue to fund breakthrough, innovative solutions like these four projects in order to solve our most complicated development challenges. Entrepreneurs are our gateway to sustainable, creative ideas that can make a lasting impact on many people’s lives.”

The grants total nearly $800,000. The recipients will implement their projects to improve living standards, provide job training and increase incomes for thousands of marginalized people across Mexico, USAID said in an April 16 press release.

The recipients will do the following:

• Foster relations between entrepreneurs and investors through capital ventures and angel investors.

• Prevent greenhouse gas emissions through innovative uses of agricultural waste to generate energy.

• Improve the ability of electric grids to absorb energy generated from renewable sources.

Latin America and the Caribbean region have experienced more than a decade of strong economic growth, declining poverty and deepening democracy, but development challenges persist, USAID said. Deteriorating citizen security, poor educational outcomes, high levels of youth unemployment, and extreme vulnerability to natural disasters are some of the issues facing countries in the region. USAID launched the Innovation Fund for the Americas to invest in cost-effective breakthrough solutions to development challenges in Latin America and the Caribbean.

The fund rigorously tests and grows promising projects with the potential to significantly improve development outcomes, USAID said.

The agency, along with 32 partners, recently launched the U.S. Global Development Lab to advance a science- and technology-based approach to development, creating a global marketplace of innovations to help end extreme poverty by 2030.


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Posted 2014-04-19 10:19:00