Introduction to Silver Region Fund
The BID Lab’s Silver Region Fund offers up to $100,000 to startups and companies that develop innovative solutions to improve the lives of older adults in Latin America and the Caribbean.
Aging Population in Latin America and the Caribbean
According to the Inter-American Development Bank (BID), by 2050, over 208 million people in Latin America will be 60 years or older. This rapid aging population underscores the need for services addressing their unique needs.
Silver Region Fund’s Focus on Elderly Care
Region Plateada, a BID Lab fund dedicated to elderly care, has launched its second call for startups, companies, and legal entities developing innovative solutions to enhance care, prevent dependency, and create services tailored for older adults.
Funding, Acceleration, and Mentorship
Selected businesses can access up to $100,000 in funding along with an acceleration and specialized technical mentorship program. María Andrea Orduz Mateus, the program coordinator, announced that this year’s call has expanded to include businesses outside Latin America and the Caribbean, provided they intend to implement their solutions in the region. This includes countries like Barbados, Jamaica, Bahamas, Dominican Republic, and Haiti.
Previous Call’s Success
The 2024 first call surpassed expectations, receiving over 1,800 applications. More than 340 projects completed their submissions, with 230 evaluated, resulting in 35 companies selected for acceleration, strengthening, and visibility.
Collaborative Efforts
The initiative, driven by BID Lab, Fundación Arturo Sesana, the International Development Research Centre (IDRC), and GRADE, with support from Latimpacto, Innpactia, Grupo Impacta, and Agora Partnerships, aims to strengthen and revitalize the market for solutions targeting older adults—a growing segment with high potential impact. It also promotes increased funding opportunities for this sector.
Call for Participation
The call is open until September 21 at https://www.fondoregionplateada.com/. Only a form needs to be filled out on the provided page, taking about 90 minutes. The information can be saved and continued later, but the registration will only be valid once all questions are answered.
Project Alignment
Selected projects must align with at least one of these areas:
- Innovative care services for older adults
- Training and professionalization of caregivers
- Preventing dependency among individuals 60 years and older
The Future of Aging
“Aging should no longer be viewed solely as a challenge but as an opportunity for purposeful innovation,” emphasized Orduz. “The care economy and the silver economy will be crucial for well-being and economic growth in the coming decades.”
Key Questions and Answers
- What is the Silver Region Fund? It’s a BID Lab initiative offering funding and support to startups and companies developing innovative solutions for elderly care in Latin America and the Caribbean.
- What does the fund offer? Up to $100,000 in funding, acceleration, and specialized technical mentorship.
- Who can apply? Startups, companies, and legal entities from Latin America, the Caribbean, or countries intending to implement solutions in the region.
- What are the project alignment areas? Innovative care services, caregiver training and professionalization, and preventing dependency among older adults.
- When is the application deadline? September 21.
- Where can I find more information and apply? Visit https://www.fondoregionplateada.com/ to access the application form.
