IDB Lab

About IDB Lab

IDB Lab (previously known as MIF) is the innovation laboratory of the IDB Group. It aims to promote development through the private sector by identifying, supporting, testing and piloting new solutions to development challenges, seeking to create opportunities for the poor and vulnerable populations in the LAC region. IDB Lab engages and inspires the private sector working with the public sector when needed. Created in 1993 by 21 donor countries, it is the largest provider of technical assistance for private sector development projects.

Our partnership with IDB Lab

The six-year Youth Entrepreneurship Program, funded by IDB Lab and delivered by our members, aimed to increase the number of poor and low-income youth in 10 Latin American and Caribbean countries successfully starting sustainable businesses and creating new jobs. By the end of 2019, the programme had supported 60,000 young people to start or strengthen their businesses. Download here our Youth Entrepreneurship Programme report.

Initiatives

2013 – 2019: Youth Entrepreneurship Programme in Latin America and the Caribbean Supporting over 60,000 young people The programme worked over six years (2013 – 2019) supporting disadvantaged young entrepreneurs, creating new jobs and shaping the local economy. In the process, YEP built a vibrant regional network which is well-positioned to reach and support many more youth in years

Success Stories

Relina Coward

Barbados

"Manufacturing every day is really good, it’s tiring, but when you are making your product every day it means there is a demand and business is good."

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Kimberley Sandiford

Barbados

"I’ve always been passionate about taking care of others. When it occurred to me that I could start a business doing this I went all in – and learnt a lot along the way!"

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Ricardo Escobedo

Mexico

"When I first started out I did not understand the word “entrepreneur.” I was afraid I would not be able to do it, especially as I did not feel ready or confident enough to start a business on my own."

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Marian Balmaceda

Paraguay

“I wanted to own something for myself, to be a self-employer. Fundación Paraguaya helped me to achieve that goal when I was feeling overworked doing what I loved.”

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Publications

Effectuation and its application in youth entrepreneurship training

“IDB Lab turned to YBI to co-design our regional Youth Entrepreneurship Program that is significantly increasing the number of young people who improve their lives by starting or growing their own businesses across eleven countries in Latin America and the Caribbean. To date YBI and IDB Lab together have supported more than 41,000 young people to start or grow their own business. We appreciate YBI’s commitment to promoting innovation and learning across their network.”