Even the most simple of innovations may have a radical impact on the operation of businesses and markets in developing countries. The countries of Latin America and the Caribbean (LAC) have a great potential to develop economically and environmentally sustainable projects in key areas such as renewable energy, energy efficiency, bio-fuels and access to energy in rural areas. Local innovation and the adaption of existing technologies and business models to local circumstances are essential to increasing the competitiveness of sustainable energy products and services and facing environmental challenges. This contest seeks to support initiatives for applied scientific and technological research, innovation, assimilation, development and transfer of technologies and business models in renewable energy sources, energy efficiency and access to energy in rural areas that also have a tangible impact in the local or regional areas, promoting the development of sustainable economies and the reduction of poverty.
What is IDEAS?
The Energy Innovation Contest (IDEAS) is an initiative that seeks to support the development of innovative technologies and business models that promote renewable energy, energy efficiency, bio-fuels and access to energy in rural areas in Latin America and the Caribbean. It was launched in 2009, and this year’s launch is the Fifth Edition of the Contest. Up to today, more than 2,300 proposals from 28 LAC countries have been received and 53 winners have been selected.