October 22, 2019
Magis Americas joins USAID and the Inter-American Development’s “BetterTogether” Innovation Challenge for Venezuela
Magis Americas has joined the U.S. Agency for International Development (USAID) and Inter-American Development Bank (IDB) as they launch the BetterTogether, JuntosEsMejor, Challenge. Under the new partnership, USAID and IDB will provide $13.5 million to crowdsource, fund, and scale innovative solutions that support Venezuelans inside the country, Venezuelans across Latin America and the Caribbean, and the communities hosting them. Magis Americas will operate as an “outreach partner” working to mobilize its partners, primarily Fe y Alegría and Jesuit Migrant Network, and raise the visibility of the Challenge.
“We are excited about this new partnership with USAID and IDB and look forward to the practical implications it has for our work in Venezuela and around the region with partners such as Fe y Alegría and Jesuit Migrant Network – LAC,” said Magis Americas executive director Nate Radomski. “Now more than ever we must work alongside Venezuelans to find sustainable and creative solutions to this ever-growing humanitarian crisis.”
As a platform for collaboration and additional partnerships, the BetterTogether Challenge will pool knowledge and resources, gather local insights, host co-creation events, and build a marketplace of tested, market ready solutions to help Venezuelans and the communities hosting them. Applications for funding will address four focus areas: people, productivity, services, and finance.
BetterTogether may award grants, loans, and equity investments. Beyond financial support, awardees will be eligible for other benefits, including technical assistance, access to networks, and publicity. The funding levels are below:
Tier 1 – Ideas: Up to $25,000 to develop and test an early-stage idea.
Tier 2 – Prototype: Up to $250,000 to pilot and assess an existing prototype in the regional crisis context.
Tier 3 – Validation: Up to $500,000 to test broader market readiness for successfully piloted solutions.
Tier 4 – Scaling: Up to $1,500,000 for solutions with demonstrated commercial viability or public sector partnerships in the regional crisis context, which is required to leverage additional external funding.
Currently, solutions can be implemented in the following countries: Argentina, Brazil, Chile, Colombia, Ecuador, Guyana, Panama, Peru, Trinidad and Tobago, and Venezuela.
For more information on the BetterTogether Challenge, visit www.JuntosEsMejorVE.org.