IDB Lab, the innovation laboratory of the Inter-American Development Bank Group, has announced the launch of “NaturaTech LAC”, a pioneering initiative that fosters sustainable, innovative and regenerative finance, the use of cutting-edge technologies, and inclusive strategies to improve biodiversity conservation and regeneration actions in Latin America and the Caribbean.

The initiative is part of the Green Entrepreneurial Engine, the approach led by IDB Lab to promote innovation in climate and nature. NaturaTech LAC is funded by the Government of France (through the IDB’s Natural Capital Lab), Climate Collective, and the Amazon Bioeconomy and Forest Management Multi-Donor Trust Fund (AMDTF), among others.

During the launch event, the “NaturaTech LAC Award” was announced, which will support pioneering solutions that leverage technology with purpose for the conservation of biodiversity. The results will be announced in Cali (Colombia) in October 2024, in the context of the United Nations Biodiversity Conference (COP16). Proposals may be submitted until August 15^th, 2024.

Additionally, other projects of the initiative were announced: i) the NaturaTech Studio, a socio-technological innovation incubator for community projects, bio-businesses and startups; ii) the next generative AI tool for nature-based solutions; and iii) a regional learning program that integrates digital technologies and traditional knowledge.