the mif blog

Stories of inspiring entrepreneurs and organizations, discussion and commentary of new trends in private sector development, and the latest events and publications.

The Business of Next – News from the Global Entrepreneurship Congress 2016

By Monica Pina Alzugaray

Since my first visit to this city back in 2006, many things have changed. At the time, there was little startup activity and only a few pioneers –incubadora Creame and Promotora– establishing angel networks and the first Venture Capital fund of Colombia. Today, the city is home to other funds, co-working spaces, accelerators, and Ruta N: an initiative that turned around a “suspicious” neighborhood in Medellin and made it into a flagship for innovation and entrepreneurship. Medellin has been a good example of how the public and private sectors can join forces to create a vibrant environment where entrepreneurship can flourish.

The turnaround: Helping CariCRIS find success

By Yongdong Bao

CariCRIS is a rating agency founded in 2004 in Trinidad & Tobago to serve the Caribbean region. Its major shareholders include the MIF/IDB, the Caribbean Development Bank (CDB), CRISL, the Indian credit rating agency majority-owned by Standard and Poor’s, ,and some central banks in the region.  The MIF provided grant and investment financing to help launch the company. When I was entrusted to look after the project in early 2013, CariCRIS had been operating at a loss for its entire history because it did not have enough clients, and was running out of capital. 

Mexican youth: ready for jobs in renewable energy?

By Elena Heredero Rodriguez

With the end to Mexico’s state monopoly over energy and the opening up to foreign investment in 2013, new employment opportunities are arising in the renewable energy sector. But what skills do these jobs require?  And is the workforce ready to meet private sector demands? 

One step ahead in 2016!


2015 has been a year of expansion and growth for the NEXSO platform, and from FOMIN we plan to keep the hard work for the innovation initiative of the IDB Group.