The global movement of B Companies reaches Mexico
The agreement between CAF, Development Bank of Latin America and Co_ validates the strategic alliance to promote the social innovation ecosystem in Mexico, and lays the groundwork to expand the movement of B Companies in the country
The presence of Enrique García, CAF's Executive President, Moira Paz Estenssoro, CAF's Director Representative in Mexico, Tania Rodríguez, Executive Director of CO_, Natalia Wills Gill, Director of System B Mexico, and members of the group that promote the B movement, formalized the support of the multilateral bank to strengthen the social innovation ecosystem and promote a new triple impact business model in the country, which aims to generate social, environmental, and economic value using market forces.
In this respect, the strategic alliance is aimed at strengthening the services of the CO_ platform, an organization that works with triple impact companies, impact investors and university students at a national level, as well as increase the capacity of entrepreneurs to raise capital. Another objective is the development and consolidation of the movement of B companies in Mexico. It should be noted that the B movement and provision of financial advice services to social entrepreneurs are being promoted by CAF at a Latin American scale.
For Enrique Garcia, CAF's Executive President, promoting the social innovation ecosystem in Mexico is essential to contribute to solve the country's social problems. The maximum representative of the multilateral development organization stated, "At CAF we work from the perspective of social innovation, together with social entrepreneurs, impact investors, and investors in B Companies, a new entrepreneurial genetic that represents a change of paradigms toward a more inclusive and humane economy".
At the same time, Tania Rodríguez, Executive Director of CO_Plataforma highlighted that Mexico has an enormous potential to promote and consolidate an ecosystem of triple impact companies that may be models for the world. "It is key to invest so that a greater number of companies focused on solving environmental and social problems, through innovative business models, may have the capacity and tools that are necessary to absorb capital to increase their impact".
In line with the objectives of the alliance, during July there will be an invitation to apply for scholarships to a group of entrepreneurs who will receive training, advice, and support to get capital from angel investors. In addition, in coming months there will be new activities aimed at the growth of the ecosystem of triple impact companies and to incorporate a significant number of Mexican entrepreneurs with great potential to join this dynamic global movement that promotes a new economic paradigm and already includes 1785 B Companies in more than 50 countries.
The Grupo Promotor Sistema B México(Group Promoting System B in Mexico) is headed by CAF, Development Bank of Latin America, Co-Plataforma, Promotora Social México, Ashoka Emprendedores Sociales, Instituto Nacional del Emprendedor, Asociación de Emprendedores de México-ASEM, New Ventures Group, Impact HUB, IluMéxico, Social Venture Exchange-SVX MX, Transfo, and Aspen Network of Development Entrepreneurs-ANDE, with Natalia Wills Gill, of System B as Executive Director.
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