IDB and Telefónica launch initiative to connect entrepreneurs and businesses

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IDB Statement

(Automatic translation)

MADRID – The President of the Inter-American Development Bank (IDB), Mauricio Claver-Carone, and the Executive Chairman of Telefónica, José María Álvarez-Pallete, met today to strengthen the institutional alliance that the two organizations maintain and continue to promote an inclusive digital transformation in Latin American and Caribbean countries.

“The IDB will continue to advance inclusive digitization in Latin America and the Caribbean, as we recognize the importance of maximizing the use and access to technology to create jobs and new opportunities for students, entrepreneurs and leaders of micro, small and medium enterprises. companies. We hope to strengthen our alliance with Telefónica to provide new solutions that help advance sustainable development in our region, ”said IDB President Mauricio Claver-Carone.

The collaboration between the IDB and Telefónica covers different areas such as training with courses on artificial intelligence and Big Data; employability; migration; and ethical and responsible use of technology . In addition, Telefónica participates in key entrepreneurial initiatives with IDB Lab, the innovation laboratory of the IDB Group, and in innovative financing programs with IDB Invest, the private arm of the Group.

José María Álvarez-Pallete, President of Telefónica said: “This alliance and collaboration allow us to maximize our contribution to a more just socio-economic development, through a green and inclusive digitization of the region, which contributes to reducing gaps and to contribute to entrepreneurs and businesses. to establish itself at the forefront of the digital world ”.

One of the central themes of the meeting was the launch of CIV-LAC, a regional platform for entrepreneurial entrepreneurship that will help evolve around 600 startups through open innovation processes with large and medium-sized Spanish and Latin American companies, thus helping to improve the digital ecosystem.

The development of this platform is led by BID Lab, and Wayra , the Telefónica innovation hub. The initiative will facilitate access to commercial networks, resources and knowledge for the benefit of startups characterized by technologies or economic models with high socio-environmental impact. It will promote links with companies that support the use of these solutions through collaborative innovation and investment projects.

60% of the technological solutions that this platform will promote will be aimed at vulnerable communities and the remaining 40% will aim to improve the environmental impact.

The meeting between the two presidents was held at Telefónica’s headquarters in Madrid, where they reviewed the progress of other key projects. These include Destino Empleo in Chile, the employability program and Internet para Todos (IpT) Peru . During the meeting, they discussed the possibilities of extending the success of IPT Peru to Ecuador and Colombia. To date, IpT Peru has improved connectivity to over 3 million people in isolated populations.

About the IDB

The mission of the Inter-American Development Bank is to improve lives. Since its inception in 1959, the IDB has been a major source of long-term finance for economic, social and institutional development in Latin America and the Caribbean. The IDB also conducts cutting-edge research projects and provides policy advice, technical assistance and training to public and private sector clients across the region.

About Telefonica

Telefónica is one of the world’s leading providers of telecommunications services. The company offers fixed and mobile connectivity services, as well as a wide range of digital services for individuals and businesses. It is present in Europe and Latin America, where it has more than 365 million customers.

Telefónica is a fully private company whose shares are listed on the continuous market of the Spanish stock exchanges and on the New York and Lima stock exchanges.


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