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The MIF provides funding to expand an innovative tech-driven group of social enterprises in Argentina

May 19, 2016

The Multilateral Investment Fund (MIF), a member of the Inter-American Development Bank (IDB) Group, recently approved a US$ 852,000 project (a US$ 400,000 technical cooperation grant from the MIF and US$ 452,000 in counterpart funding) that will support the consolidation and expansion of a group of technology-based social enterprises in Argentina and other Latin American countries.

The project is part of the MIF’s efforts to promote the region’s knowledge economy, and is coordinated with two other IDB divisions: Competitiveness, Technology, and Innovation, and Water and Sanitation. 

The project will be executed by Njambre, a nonprofit organization that has adapted the “company builder” model, an approach to startup development popular in the technology sector, to create social enterprises. After testing different pilots, Njambre, with MIF support, will consolidate and expand four technology-based social enterprises: Umana, a platform that provides access to affordable medical services for low income population; Arbusta, which creates inclusive digital work opportunities for women and young people in marginalized neighborhoods; Mamagrande, a startup that uses biotechnology to remediate ecosystems and creates value-added products (biopolymers) out of renewable sources of carbon; and Teqxac, which provides technological platforms to organizations that work with informal recyclers in Latin America.

By the end of the project’s execution, the four social enterprises will have benefited an estimated 14,000 or more individuals, and will have created 1,000 new technology-based jobs. The MIF-supported project will also evaluate and standardize Njambre’s experience in creating and scaling social enterprises so it can inform other key public and private actors in the Latin American and Caribbean region and beyond.

About Njambre

Njambre was established in November 2012 with the purpose of creating and scaling innovative startups that solve social and environmental problems and promote economic growth and access to critical goods and services in marginalized communities in Argentina. Njambre is a recognized institution in the area of social enterprises in Argentina and in the region. Learn more at www.njambre.org

About the MIF 

The Multilateral Investment Fund is the innovation lab for the Inter-American Development Bank Group. It conducts high-risk experiments to test new models for engaging and inspiring the private sector to solve economic development problems in Latin America and the Caribbean. The MIF addresses poverty and vulnerability by focusing on emerging businesses and smallholder farmers with the capacity to grow and create economic opportunities. Learn more at www.fomin.org

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