On January 23, 2025, IDB Lab (the Innovation Lab of the Inter-American Development Bank Group) and the Japan International Cooperation Agency (JICA) hosted a launch event for the "Open Innovation Challenge TSUBASA 2025" in Tokyo. This initiative is designed to discover and support Japanese startups that contribute to the achievement of the Sustainable Development Goals (SDGs) in Latin America and the Caribbean (LAC). The application period for the challenge runs from January 27, 2025 (Monday) to March 31, 2025 (Monday).
The startup ecosystem in LAC has seen rapid growth in recent years, creating significant opportunities for innovative Japanese companies. Through this challenge, Japanese startups are encouraged to create impactful solutions that address development needs in the region. In 2021, IDB Lab and JICA launched the TSUBASA (Transformational Startups' Business Acceleration for the SDGs Agenda) program, which aims to accelerate startups that contribute to the SDGs in LAC. Since its inception, the program has supported 8 companies in 2021, 11 in 2022, and 9 in 2023.
During the launch event, Ms. Imoto, Senior Vice President of JICA, gave the opening remarks, while Mr. Nakayama, Managing Partner of B Venture Capital, provided insights into the current state and outlook of the LAC markets. The event also included an introduction to the TSUBASA 2025 Program. Representatives from Biome (Government Course) and Koeeru (Business Course), both awardees of TSUBASA 2023, shared their experiences. They discussed the impact of acceleration support, their partnerships with local stakeholders, and the guidance they received from IDB Lab and JICA.
Mr. Takeuchi, Principal Advisor at IDB Lab, emphasized the importance of leveraging innovative Japanese solutions to address socio-economic challenges in LAC. He highlighted the need for advanced technologies that can improve the lives of vulnerable populations, foster climate change mitigation and adaptation, and address issues of gender equality and diversity.
Open Innovation Challenge Overview:
Title: Open Innovation Challenge TSUBASA 2025
Purpose:
To discover and support Japanese startups with innovative ideas, business models, and technologies that tackle development challenges in Latin America and the Caribbean.
Application Content:
Innovative solutions for specific development challenges/SDGs in LAC.
Application Fields:
- Business Course: Innovative solutions in IDB Lab's priority areas such as ClimateTech, EdTech, AgTech, FinTech, GenderTech, and Silver Economy.
- Government Course: Innovative solutions for co-creation with ongoing or planned JICA projects, including:
- Paraguay: Digitalization and space development
- Ecuador: Environmental management (cocoa utilization)
- Chile: Social welfare (support for people with disabilities)
- Dominican Republic/Caribbean region: Sargassum management
- Peru: Disaster prevention
- Mexico: Automotive industry DX/GX and aging countermeasures
How to Apply:
Submit your application through the dedicated site: TSUBASA | Solving Development Challenges in the Latin America and Caribbean Region with Japanese Startups.
Schedule:
- Application period: January 27, 2025 (Monday) to March 31, 2025 (Monday)
- Selection process period: April to May 2025 (schedule subject to change)
About the IDB
The Inter-American Development Bank (IDB) is devoted to improving lives across Latin America and the Caribbean. Founded in 1959, the IDB works with the region’s public sector to design and enable impactful, innovative solutions for sustainable and inclusive development. Leveraging financing, technical expertise and knowledge, it promotes growth and well-being in 26 countries. Visit our website https://www.iadb.org/en.
About IDB Lab
IDB Lab is the innovation and venture capital arm of the Inter-American Development Bank. We discover new ways to drive social inclusion, environmental action and productivity in Latin America and the Caribbean. IDB Lab leverages financing, knowledge and connections to support early-stage entrepreneurship, foster new technologies, activate innovative markets and catalyze existing sectors. www.idblab.org
The IDB and Japan
Japan became the first non-regional member in 1976. Since then, Japan has continued to contribute both financial and human resources.
IDB Lab
IDB Lab is the innovation and venture capital arm of the Inter-American Development Bank Group.
About the IDB
The Inter-American Development Bank is the leading source of development financing for Latin America and the Caribbean.