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Obama pledges US$70m to help Caribbean, Latin American entrepreneurs

Obama pledges US$70m to help Caribbean, Latin American entrepreneurs

Posted by Juan Gavasa on April 11, 2015

The United States committed nearly US$70 million to help young entrepreneurs in Latin America and the Caribbean develop their businesses through fellowships and incubators in the US.

The programme is called Young Leaders of the Americas Initiative.

President Barack Obama made the announcement at the youth forum now under way at the Assembly Hall of the University of the West Indies, Mona.

Building on the success of the president’s young leader initiatives in sub-Saharan Africa and Southeast Asia, YLAI is expected to incubate and accelerate the work of young business and civil society leaders from Latin America, the Caribbean and the United States.

The YLAI will provide 250 fellowships each year to enable participants from the United States and the region to develop joint business and civil society initiatives.

The preponderance of the fellowships will take place at universities, incubators, and non-governmental organisations across the United States, while follow-on exchanges will send Americans to Latin America and the Caribbean to continue the collaboration.

The YLAI fellows will receive ongoing support through a continuum of networking, mentorship and investment opportunities.

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