La Idea 


Para ver la información en español, acceda al siguiente enlace: https://inbia.org/wp-content/uploads/2019/01/La-Idea-Entrepreneur-RFP_Spanish-1.docx

Please submit all answers in English. 

If you have questions, please contact InBIA staff at laidea@inbia.org. 

Funded and initiated by the United States Department of State, the La Idea Incubator Project is a powerful initiative focused on strengthening entrepreneurship and job creation across the Western Hemisphere. The La Idea Project especially encourages trade and commerce between Central America and the United States. The project is a collaboration between the International Business Innovation Association (InBIA) and the Regional Center for the Promotion of MSMEs CENPROMYPE.  

The La Idea Incubator Project provides a framework that allows entrepreneurs in Central America to directly connect with U.S.-based InBIA Soft Landings designees. These designees provide advanced incubation services to guide Central American entrepreneurs' businesses towards revenue generation, investment successes, and capital-efficient operations. InBIA's Soft Landings designees have been validated through rigorous application and peer-review processes to ultimately serve foreign companies interested in expanding out their domestic markets. The Soft Landing sites selected for La Idea should be ideal matches for these Central American entrepreneur project applicants who are interested in expanding their businesses to the United States. 

Call to Apply to the La Idea Incubator Project

If you are an entrepreneur residing in Belize, Guatemala, El Salvador, Honduras, Costa Rica, Nicaragua, or Panama, and you are developing innovative solutions in one of the upcoming cohorts, the U.S. Department of State and its partners encourage you to apply for the La Idea Incubator Project. La Idea recipients will have the unprecedented opportunity to connect with peer innovators, create lasting relationships with entrepreneurship centers in the U.S., learn to navigate the complexities of international trade, and explore best practices in sales and operations. Upon selection for La Idea, you will be sent an invitation letter to support your Visa application, should you not have one at the time you submit your application. Due to any rejected Visa applicants/other issues, La Idea Project staff have the right to select alternate applicant for the project.

La Idea is currently seeking entrepreneurs who own or operate small businesses in the following sectors to apply (additional sectors will be added at later dates): 

 

  • Technical Services (launches July or August 2019)
    Includes small businesses that either provide business to business solution services or business to consumer services in technical fields such as Software, IT, fintech, engineering, architecture, digital media, etc.)    
  • Light Manufacturing (launches September 2019)
    Includes either Central American small businesses that are involved in the processing, fabricating, assembly, or disassembly of items for commercial or consumer use.   
  • Food & Beverage (launches October 2019)
    Includes small businesses that produce food and beverage products or services. NOTE: Alcoholic beverages are not eligible. Illegal substances or food/beverage products containing illegal substances designated by United States law are ineligible as well. 


Please submit all answers in English. 

Application Call Schedules by Industry Cohort

Having an active Visa is not mandatory and will not impact the success of an application, but it will expedite the process. (Please see full selection criteria instructions and expectations of participants below.) 

 

  1. Applicants interested in the TECHNICAL SERVICES (July/August 2019) COHORT must submit complete applications by March 31, 2019 (11:59PM Eastern). Selected participants will be notified by email of their acceptance by May 31, 2019, so they have time to complete and fulfill necessary Visa and/or passport processing prior to attending their relevant bootcamp in the U.S.
  2. Applicants interested in the LIGHT MANUFACTURING (September 2019) COHORT must submit complete applicataions by April 30, 2019 (11:59PM Eastern). Selected participants will be notified by email of  their acceptance by June 30, 2019, so they can have time to complete and fulfill necessary Visa and/or passport processing prior to attending their relevant bootcamp in the U.S. 
  3. Applicants interested in the FOOD AND BEVERAGE (October 2019) COHORT must submit complete applications by April 30, 2019 (11:59PM Eastern). Selected participants will be notified by email of their acceptance by July 31, 2019 so they have time to complete and fulfill necessary Visa and/or passport processing prior to attending their relevant bootcamp in the U.S.


Benefits of Participating in the La Idea Incubator Project

Up to 100 participants (a maximum of ten per industry cohort) will each receive a $2,800 USD stipend to cover travel to the United States to participate in a bootcamp as part of the La Idea Incubator Project. Each five-day bootcamp will be hosted at a U.S.-based InBIA Soft Landings Incubator designee that specializes in that cohort's industry and offers unprecedented customer networking opportunities, mentors who are subject matter experts, useful market trend analysis, and additional relevant resources. Additionally, once participants return to their home countries after completing the bootcamp, they will receive more mentoring (especially from their local/national SBDC/CAM) and other follow-up resources for the next twelve months. Participants will have access to the following resources during and after the bootcamp:

 

  • Two days of training from industry experts and legal counsel in general topics of conducting business in the U.S., such as incorporation of subsidiaries, import/export regulations, immigration laws, taxation, U.S. business cultures, federa and other resources to non-U.S. businesses, etc. (translation services will be available at all times) 
  • Three days of extensive, industry-themed curriculum that includes lectures, workshops, and tours of specialized facilities relevant to each cohort (translation services will be available at all times) 
  • Access to live mentoring on business as well as industry-specific matters during and post-bootcamp, including assigned mentors from your nation after you return from the bootcamp 
  • Access to virtual business mentors through CENPROMYPE/InBIA partners around the world and the use of InBIA's Exchange online social networking platform 
  • Both live and virtual networking opportunities throughout the entire project with potential customers, investors, and other strategic partners
  • An opportunity to try out the facilities/resources of a Soft Landing facility that could support U.S. expansion in the future
  • Access to extensive translation services and/or support to assist with the communication and marketing of your product/service in the U.S. 


La Idea Soft Landing Sites will provide necessary ground transportation and coursework supplies. The travel stipend will cover the following: 

 

  • Airfare up to $1,500
  • Lodging up to a total of $750 over five days
  • Per diem (for dinner and snacks) up to $100 per day over five days (total of $500)
  • Breakfast and lunch will be provided by the Soft Landing sites for all five days


Participant Selection Criteria and Process

Participants of the La Idea Incubator Project are expected to comply with U.S. federal policies regarding foreign visitors. In addition to these important eligibility requirements, these entrepreneurs must meet all of the following criteria to apply for the project: 

 

  • A current, active tourist Visa is strongly encouraged, but not required for application; however, you MUST have a tourist Visa by the time you arrive for the bootcamp. 
  • Be a citizen of a Central American country (not eligible if a citizen or permanent resident of the United States or other countries outside of the eligible Central American countries)
  • Be either a founder or majority owner of the small business
  • Be legally registered to conduct business in your native country
  • Be able to speak, read, and write in English semi-fluently (translation services will be available at all Soft Landing sites)
  • Have a company that offers a product or service that fits the description of one of the cohort industries outlined above
  • Be able to produce and work through exercises to refine your sales plan, manufacturing, and/or scale-up plan, and other critical business model elements by the time you participate in the bootcamp (translation service at the Soft Landing site will assist with these documents)


Applicants with all of the above criteria, who also articulate a clear business proposition and can best use the proejct to pursue U.S. market opportunities, will be the strongest candidates. A selection committee of several U.S. Department of State, Soft Landing site operations staff with expertise in the cohort industries, InBIA, and CENPROMYPE staff will review the applications submitted and select participants. 

Participant Commitment Expectations

 

  • Be willing to attend the entire five days of the bootcamp while giving all attention and focus to the curriculum
  • Follow your Visa stipulations and return immediately to your home country after the bootcamp has concluded 
  • Be willing to fulfill short evaluations after each workshop/lecture/other programming elements for the entire bootcamp 
  • Be willing to provide the following information to Soft Landing site staff at the conclusion of the bootcamp and up to twelve months after the bootcamp (by submitting this application, you agree to provide this information):

                  - Connections to customers, investors, or other partners as a result of the  

                    bootcamp

                 -  Mentors obtained and the connections they broker

                 -  Loans, grants, or capital obtained

                 -  Revenue growth

                 -  Number of employees hired

                 -  Cost reductions in operations and/or manufacturing as a result of training

                 -  Other success metrics and/or anecdotes about how the project has 

                     assisted your company  

  • Be willing to work with your assigned mentors (either U.S.-based or local SBDC/incubator) up to twelve months after the bootcamp to continue to receive guidance and assistance for your business
  • Be willing to be an ambassador of the La Idea Incubator project to promote the project and assist other entrepreneurs in your home country if possible 
  • Be willing to join and to actively collaborate in an existing regional network of Central American entrepreneurs (CENPROMYPE)


Please submit all answers in English. 


Para ver la información en español, acceda al siguiente enlace: https://inbia.org/wp-content/uploads/2019/01/La-Idea-Entrepreneur-RFP_Spanish-1.docx