Creation of an innovation and entrepreneurship ecosystem in Northern Haiti (IADB-HA-L1127)

Countries
  • Haiti
Where the impacts of the investment may be experienced.
Financial Institutions
  • Inter-American Development Bank (IADB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Proposed
Bank Risk Rating
C
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Mar 29, 2017
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
Ministry of Economy and Finance
The holder of the loan, grant, or other investment.
Sectors
  • Industry and Trade
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Grant
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 5.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 5.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ IADB website

Updated in EWS Jun 22, 2017

Disclosed by Bank Aug 9, 2016


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Project Description
This project will support the formation of an ecosystem of innovation and entrepreneurship in Northern Haiti under a scheme IEDA : Learn- Interact - Execute . The specific objectives will be to: (i) develop entrepreneurial capacity; (ii) facilitate access to finance for entrepreneurs; and (iii) develop networks and build capacity in the public sector regarding entrepreneurship. The strategy of this project is to strengthen each one of the phases of the development of the entrepreneurial ecosystem in a sequential manner, utilizing a “bottom up” and phased approach. These phases are: (i) development of competencies and abilities for entrepreneurship and generate a culture of entrepreneurship; (ii) once a group of entrepreneurs has been trained, key entrepreneurs that present viable ideas will be supported in setting up and initiating their ventures; (iii) entrepreneurs that are initiating new ventures will be supported with networks; and (iv) entrepreneurs with viable ventures will be supported in accessing additional funds for scaling up. These phases will be complemented with the design and implementation of government policies to foster the sustainability of the intervention. This program is envisioned as an experiment, under which a new model for fostering economic growth will be tested with the potential to being scaled up in further operations.
Investment Description
  • Inter-American Development Bank (IADB)
This investment would be a US$5 million grant. The project is designed to be complementary with other programs in Haiti, including the Productive Infrastructure Series, the Northern Economic Pole Business Accelerator Program, and the Private Sector Development through Investment Promotion. In addition, the operation will complement the activities carried out by Compete Caribbean.
Contact Information
ACCOUNTABILITY MECHANISM OF IADB The Independent Consultation and Investigation Mechanism (MICI) is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an Inter-American Development Bank (IDB) or Inter-American Investment Corporation (IIC)-funded project. If you submit a complaint to MICI, they may assist you in addressing the problems you raised through a dispute-resolution process with those implementing the project and/or through an investigation to assess whether the IDB or IIC is following its own policies for preventing or mitigating harm to people or the environment. You can submit a complaint by sending an email to MICI@iadb.org. You can learn more about the MICI and how to file a complaint at http://www.iadb.org/en/mici/mici,1752.html (in English) or http://www.iadb.org/es/mici/mici,1752.html (Spanish).