ConnectAmericas celebrates 10 years of connecting businesses in Latin America and the Caribbean

As a development bank, the IDB is always looking for opportunities to improve lives in the Americas. Working directly with government officials and in dialogue with civil society and the private sector, our teams have witnessed the development of Latin America and the Caribbean (LAC) firsthand. We analyze challenges and come up with innovative ways of overcoming obstacles that might jeopardize the region's future. More importantly, we design solutions that drive economic growth and development. The real measure of our success is when concrete results validate these ideas.

A decade ago, this vision led us to create ConnectAmericas, a business network for LAC that has been helping to break down information barriers and facilitate international trade ever since. More than 15 million people from 186 countries have visited the platform since 2014. ConnectAmericas is a digital public good that promotes innovation, enhances visibility and credibility, and empowers users through its collaborative environment. Its benefits include networking, mutual support, and access to information and training, leading to concrete business opportunities in international markets.

Today, ConnectAmericas stands as the largest online business networking platform in LAC. This is a testament to the IDB's vision in creating a free, 24/7 platform that replicates the experience of attending one of the region's thriving business and networking forums. ConnectAmericas offers a wide range of specialized events, including sector-focused forums in areas such as food and beverages and knowledge-based services, as well as trade forums that engage IDB member countries from outside the region.

Wherever business travelers go in LAC, it's rare to find a country where government officials in the foreign trade sector or businesses are unfamiliar with ConnectAmericas. As founders, we wanted to get a head start on an emerging opportunity: SMEs, which represent 95% of all companies in LAC and are a key driver of employment and economic activity, were demanding new digital tools to leverage online business opportunities. As internet access expanded and social networks began to flourish in most LAC countries, online business growth was suddenly within the reach of most SMEs.

Building ConnectAmericas was a rich learning and discovery process that always focused on our clients first and foremost. We conducted dozens of surveys and focus groups with companies to systematically identify their needs and opportunities they might access in the international market. This process involved acknowledging the IDB's strengths-our trusted reputation, presence throughout the region, and technical expertise-while also recognizing that not being a tech firm implied some limitations. To bridge this gap, we forged strategic partnerships with Google, Meta, MasterCard, DHL, and Sealand, who provided the technical support and resources we needed to empower SMEs and give them tools and resources to help them thrive in international markets.

An essential online platform

ConnectAmericas has become an indispensable online space providing technical assistance in areas that business owners value highly. This includes what's known as business intelligence-vital information on international business opportunities-as well as training courses to help enter global markets and insights into financing options.

In a digital world dominated by high-profile global brands, ConnectAmericas might have gone unnoticed. However, our focus on trust, reliability, and useful content has enabled us to build a platform where like-minded individuals and organizations connect based on shared interests, industries, and values unhampered by hierarchies or physical borders. As a digital public good, ConnectAmericas is open and inclusive, promoting collective collaboration while bringing individual benefits to businesses.

The platform has achieved some remarkable milestones over the last ten years. The numbers speak for themselves: 15 million unique visitors from 186 countries, over 750,000 registered users, 240,000 company profiles, and 380 business support organizations.

Online presence and activity trigger a genuinely virtuous cycle for SMEs. Recent IDB studies have shown that companies using ConnectAmericas experience a 17% average increase in export value, mainly because they gain visibility among international clients. Moreover, every additional day that companies connect to the platform generates an average of $1,050 in revenue.

ConnectAmericas has a positive, practical impact on regional integration by empowering SMEs, connecting them with key contacts, and equipping them with vital information for international success. The effect of internationalization on LAC firms is huge: our studies found that exporting SMEs are 54% more productive, pay 42% higher wages, achieve 55% higher sales, and create 246% more jobs.

ConnectAmericas offers an array of learning resources covering critical topics such as agribusiness, digitalization, business management, opportunities for women entrepreneurs, financing options, and environmental sustainability. These resources are fundamental for strengthening SMEs' knowledge and skills to thrive in a competitive, ever-changing business environment. Users can access content in various formats, including over 4,000 articles published in the last decade, around 20 podcast episodes, and massive open online courses (MOOCs).

In 2023, around 20,000 people participated in ConnectAmericas webinars, reflecting significant interest in online learning. The platform's interface has changed a lot since 2014, when its sole focus was for users to "connect, learn, and find funding." Although these goals are still important, we've added new functionalities tailored to SMEs' needs. The operational resources our members value most include private procurement notices, information on calls for tenders financed by the IDB, and calculators for logistics costs and export prices.

The role of women entrepreneurs

Another example of our ongoing evolution is ConnectAmericas for Women, which champions women-led businesses and entrepreneurship among women. The program offers tailored advice to help women expand their SMEs into international markets. Over 180,000 women entrepreneurs are now part of our community, and our research indicates that women-led firms see a 40% increase in export value after joining.

In 2021, at the height of the COVID-19 pandemic, we launched Build the Americas, a mobile app providing information on business opportunities in IDB-financed infrastructure projects across the water and sanitation, energy, and transportation sectors. Throughout the pandemic, we partnered with governments, civil society, and the private sector to bridge supply and demand for essential items like facemasks, ventilators, medication, hospital supplies, and hygiene products while also providing information on critical services such as hospital management, telemedicine, virtual assistants, and data analysis and management platforms.

A future bright with opportunities: BID for the Americas

Anticipating the challenges and opportunities of the coming years, the IDB recently launched the BID for the Americas program. This initiative aims to increase the participation of global businesses in LAC, focusing on three key areas: public procurement, trade and investment, and financing. ConnectAmericas plays a pivotal role in this endeavor by facilitating procurement announcements and maintaining a database of LAC exporting firms with which businesses outside the region can establish commercial relationships to take part in IDB-financed bidding processes. To support this goal, we created the Bidder Center. In this dedicated online space, users can access information on IDB-financed projects, intending to encourage them to participate in new ventures.

Innovation isn't an optional extra-it's essential to remain relevant. The projects we've launched this year are just as exciting as when we started ConnectAmericas ten years ago. Among our latest ventures are an agribusiness marketplace that supports firms in this sector and online courses to help SMEs access opportunities in IDB development projects. At the end of the year, we'll be rolling out the BID for the Americas mobile app, designed to give users easy, intuitive access to all the services this new program has to offer. We've also developed a digital diagnostics tool to help companies wanting to expand or invest in LAC.

A sense of community

ConnectAmericas launched in March 2014 at the IDB Group's annual meeting, held that year in Bahia, Brazil. Google's then-CEO Eric Schmidt, who joined us via videoconferencing, described ConnectAmericas as "a great idea come true." At the time, we wanted to break down the information barriers facing LAC SMEs and respond to their need for reliable content and contacts. A decade later, we're proud to have exceeded those expectations. Our most outstanding achievement is intangible-the sense of community and belonging that ConnectAmericas signifies among our users.

ConnectAmericas was designed with and for LAC businesses. As it celebrates its first ten years, it has become a true embodiment of its name.

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