The U.S. Economic Development Administration, part of the Department of Commerce, has awarded Idea Foundry a $250,000, three-year grant through the Build to Scale Capital Challenge. The grant will support the creation of a southwestern Pennsylvania based angel investing initiative in cooperation with our implementing partner Babst Calland.

Over the last several months, Idea Foundry has wrapped up two virtual YLAI Fellowships, with Fellows from Ecuador & Colombia, as well as a mentorship program for entrepreneurs from Costa Rica.

Silabuz, a company born in Peru and also incorporated in Chile and the U.S., will participate in Idea Foundry's Impact Innovations Accelerator program. Silabuz's mission is to break down barriers for Spanish speaking youth in computer science education.

Through continued support from the U.S. Embassy in Santiago and our new partner ChileGlobal Ventures, Idea Foundry hosted a virtual version of our Global Innovation Bridge Program for 10 selected companies in the ChileGlobal Ventures portfolio.

With Covid-19 affecting just about all areas of life, startups are faced with changes to their market, team structure, and work environment. Despite uncertainties, a significant group of our portfolio companies have pivoted or focused their efforts on mitigating effects of Covid-19, across many sectors. Read more about their efforts here.