Today the White House put out a press release highlighting the Caribbean IdEA Marketplace and Latino American IdEA Partnership (La IdEA) as a key component of the Small Business Network of the Americas (SBNA). The SBNA will strengthen partnerships between small business development centers and their clients throughout the Western Hemisphere.
The press release states:
The President also pledged to encourage diaspora entrepreneurship in the United States by:
- Leveraging the dynamism of diaspora communities through the Latino American Idea Partnership (La IdEA) and the Caribbean Idea Marketplace (CIM) business competition platforms: These competitions will award grants to the most transformative ideas for business and investment and promote the development of business relationships among entrepreneurs in the United States, Latin America, and the Caribbean.
- Providing working capital grants in association with La IdEA and CIM partners to competition winners and up to $150 million in financing through the Overseas Private Investment Corporation for eligible applicants: These grants will allow diaspora entrepreneurs to bring their international business plans to fruition.
Click here to view the White House’s full press release.