IIC and Partners Launch League of Intrapreneurs

10/02/2012

New initiative aims for social and environmental impact from within

Washington, D.C., September 28, 2012 — The Inter-American Investment Corporation (IIC), in partnership with Accenture, Ashoka, GlaxoSmithKline, Imaginals, the Inter-American Development Bank’s Opportunities for the Majority Initiative, and the International Finance Corporation, has launched the League of Intrapreneurs at the World Summit on Innovation and Entrepreneurship in Boston, Massachusetts.

The League of Intrapreneurs is a global movement identifying and empowering individuals from major corporations and small and medium enterprises in their value chains to help solve some of the world’s most intractable problems including unemployment and poverty. These intrapreneurs work for change from within, developing and promoting practical solutions to social or environmental challenges where progress is currently stalled due to market failures.

A competition aiming to seek out social intrapreneurs with the capacity to transform business and society was launched simultaneously in Boston, Hong Kong, London, and New York. Entries will be evaluated for their financial, social, and environmental impact, their innovativeness, and their potential to generate strategic business opportunity.

The competition is part of a larger program to empower social intrapreneurs to create new sustainable markets and improve the development impact of private sector businesses. The program will identify and support the relationships of social intrapreneurs, businesses, and relevant stakeholders to generate financially viable social and environmental impact. It also aims to raise the profiles of intrapreneurs and develop support strategies for them to take their business models to market and scale their ventures.

Prominent summit participants included thought leaders from the Massachusetts Institute of Technology and Harvard as well as private sector executives from Microsoft, Walmart, Havas and others.

About the IIC

The IIC, a member of the Inter-American Development Bank (IDB) Group, promotes private-sector development in Latin America and the Caribbean with a focus on small and medium enterprises (SMEs). We help companies streamline management processes and provide them with financing in the form of equity investments, loans, and guarantees. In 2011, the IIC reached the symbolic one-billion-dollar mark in disbursements of own and third-party funds. Throughout our history, we have benefited more than 1.6 million SMEs in Latin America and the Caribbean. For more information on the IIC, visit www.iic.org.

Contact: Rosario Londoño

Telephone: +1 (202) 623-3235

Email: rosariolo@iadb.org