Idea Foundry, a globally active innovation commercialization firm, has announced that once again its programs are making an impact around the world. This time, through a partnership with Mexican foundations Nacional Monte de Piedad and Televisa Foundation, Idea Foundry will leverage its expertise to spur innovation and entrepreneurship in Mexico. This partnership exemplifies Idea Foundry’s leadership and role as a catalyst for social entrepreneurship and new business creation.
Nine months in the making, the partnership will enable four teams of Mexican entrepreneurs to develop their businesses and bring new products to market. The teams were carefully selected through a rigorous competition in Tec of Monterrey, Mexico City, in August. Idea Foundry drew upon its twelve-year expertise to select finalists in fields such as unmanned aircrafts, healthcare, and education, all of which are pursuing important social missions.
In addition to physical facilities in Mexico City for the teams to incubate their young businesses, the partnership also includes financial support for a Spanish-speaking team at Idea Foundry in Pittsburgh, which will work closely with the entrepreneurs to provide mentoring, strategic guidance, and other crucial business development services. Idea Foundry’s proven track record of providing practical, hands-on assistance to growing businesses enabled it to become one of only three U.S.-based organizations to participate in this endeavor.
“We’re delighted to be working with Idea Foundry on this important project,” said Lorena Mac Farland Kanawati, Executive Coordinator at Nacional Monte de Piedad. “Entrepreneurship is a vital component of our economy, and Idea Foundry’s assistance will create new jobs in our region and bring fantastic products to life.”
The partnership is equally meaningful to Pittsburgh, as it paves the way for deeper collaboration with Mexico in the future. “We see this as the beginning of something far-reaching and impactful,” said Victor Diaz, head of the Pittsburgh Hispanic Development Corporation. “It will open doors for cultural exchange and increase diversity in our city.”
Idea Foundry, founded in 2002, is a Pittsburgh-based non-profit economic development organization focused on creating high-potential, innovation-related jobs in the life sciences, entertainment and education, social enterprise, advanced materials, and water sectors. With more than 150 companies in its portfolio, Idea Foundry is a pioneer in hands-on business development and technology transfer. Learn more at www.ideafoundry.org.
For more than 239 years, Nacional Monte de Piedad has supported the Mexican population through low-interest loans in support of health care, housing, education, and social issues. Through such initiatives and its more than 310 branches nationwide, Nacional Monte de Piedad reaffirms its commitment to help those in need throughout Mexico. Learn more at www.montepiedad.com.mx
Televisa Foundation is a non-for-profit organization that aims to help the Latin population in the United States through innovative cultural and educational programs. Learn more at www.televisafoundation.org
The program was featured on Siempre TV: