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MIF and Fundacion Impulsar seek to support low-income young entrepreneurs in Buenos Aires

Jun 17, 2016

The Multilateral Investment Fund (MIF), Inter-American Development Bank (IDB) Group, has recently approved a US$520,000 grant for a project that aims to improve the entrepreneurial capabilities of more than 1,200 low-income youth that live in the city of Buenos Aires and its outlying areas. The initiative will be carried out by Fundacion Impulsar in articulation with the Municipal Government of Buenos Aires and seeks to address the scarce and inadequate supply of comprehensive services for low-income young entrepreneurs through access to training and mentoring. 

According to the IDB’s “Sociómetro,” the unemployment rate in Argentina for young people is nearly triple the overall unemployment rate (19.9% versus 7.5%). Among young people, the unemployment rate for women is higher than for men (24.3% versus 17.2%). Moreover, 1 of every 5 young people do not study neither work.  Also, according to the International Labor Organization (ILO), the rates of youth informality exceed 55%. These rates are even higher for Argentina’s lowest-income quintiles.

In order to support the entrepreneurial capabilities of these Argentine youth, the project will promote a comprehensive assistance package Impulsar offers to entrepreneurs, which also includes training and financing. Mentoring is the key element in that package. Mentoring involves establishing a one-on-one relationship of trust and understanding in which to analyze and discuss the problems and concerns raised by the entrepreneur on running his or her business. Accordingly, open-ended questions, active listening, and assertiveness are employed with the aim of building his or her confidence and strengthening the decision-making process. The project also seeks to generate evidence, via rigorous qualitative and quantitative evaluations, regarding the effectiveness of mentoring that will help public decision-makers to understand the impact of mentoring on the development of young entrepreneurs, with a view to its large-scale implementation.

This Project will also evaluate and tailor online training modules of the Academia Emprende Program, an entrepreneurial skill strengthening program of the Municipal Government of Buenos Aires that is open to the public, so they can target the segment of young beneficiaries of this project.

This project falls within the framework of the regional Youth Entrepreneurship Program. Its objective is to improve the entrepreneurial capabilities of an increased number of young people through improved access to and quality of support services, laying the foundations for a stronger youth entrepreneurship ecosystem in selected countries across the region. 

About Fundación Impulsar


Fundación Impulsar has more than 15 years of experience working on youth entrepreneurship issues. Impulsar provides a set of services, including training, mentoring, financing. To date, more than 1,500 young people have been Impulsar beneficiaries), Impulsar works with volunteer mentors and currently has a network of 600 active mentors, many of whom are recruited from the business community. Learn more at www.fundacionimpulsar.org.ar


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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