Collaborative economics provides innovative solutions to the problem of poverty in Colombia

Entrepreneurs from Trade Mark in South Africa, GlobeChain in the United Kingdom, and  5Bogota  and Sokotext  in Colombia, were selected among 132 initiatives from more than 25 countries that presented proposals in the education, health, consumption, and production categories. 

The premise of this challenge was to promote the generation of new ideas with the potential of improving the quality of life of millions of people living in poverty in Colombia, through business models based on the idea that collaboration and exchange between members of a community will increase access to services and products that are essential for social development and the wellbeing of the vulnerable population, a common ground shared by the winning proposals. 

In this respect, TradeMark currently implements a consultancy and empowerment system for some entrepreneurs in the poorest localities of Cape Town, in South Africa; GlobalChain is a platform for the re-utilization of resources that connects people, foundations, and companies, through a global network that coordinates the supply chain; 5Bogota designs creative tourism experiences for the city, which are accesible to all though its web site; and Sokotext  develops supply networks to make the business of shopkeepers more efficient, improving access to quality food and prices for the most vulnerable communities. 

As part of the award, the four winners will receive a week of intensive consultancies and training in Bogota, and will be able to present their projects to important Latin American investors to capture financing. 

New challenges will take place during this year in Argentina, Chile, Colombia and Uruguay, with the possibility of extending in the future to other countries of the region, as part of the projects advanced by CAF's Social Innovation Initiative, with the objective of promoting a favorable ecosystem for social innovation, indentifying entrepreneurs with a purpose, and helping them to take the leap and transform their ideas into viable businesses with a significant social impact.