EU LAC Digital Accelerator: Building bridges between Europe and Latin America to accelerate digital innovation

Digital innovation is a key tool for addressing the challenges of sustainable development. But the lack of strategic partnerships in many Latin American and Caribbean countries prevents them from accelerating this transformation.

The EU LAC Digital Accelerator project aims to bridge this gap by building partnerships between start-ups and large corporations in Europe and Latin America and the Caribbean. These partnerships foster economic development, increase local capacity, and support innovative solutions in connection with the Sustainable Development Goals (SDGs). 

This digital accelerator is an initiative financed by the European Union with €14 million under the Neighbourhood, Development and International Cooperation instrument (NDICI) – “Global Europe” 2021-2027. The project is part of the EU-LAC Digital Alliance (€172 million), which aims to establish a sustainable digital ecosystem between Europe and Latin America. It also contributes to the European Union’s Global Gateway strategy, which promotes clean, secure and inclusive links across the world.

The EU LAC Digital Accelerator initiative thereby aims to promote multi-stakeholder and private sector partnerships, increase competitiveness, and develop digital skills and innovation, by creating a regional digital accelerator between the European Union and Latin America and the Caribbean.

More specifically, it involves building partnerships between large corporations and start-ups or SMEs on issues related to innovation. Each pair of partners must be composed of a company from each continent.

The project, which started in 2023 and reaches completion in 2027, ultimately aims to create 100 such partnerships and thereby contribute to economic development in the Latin America and Caribbean region.

• Create 100 strategic partnerships between start-ups and large corporations by 2027
• Promote digital innovation in key sectors, such as health, energy and biofuels
• Build local capacity and create new economic and social opportunities
• Promote inclusive and sustainable solutions, with a specific focus on gender equality and the integration of Caribbean companies  

The project is based on exchanges and collaborative workshops between the various stakeholders, with the aim of jointly building innovative solutions. The main activities organised are as follows:

• Creation of a digital platform to facilitate connections and exchanges between start-ups and companies
• Organisation of open calls for projects to identify promising partnerships
• Organisation of collaborative workshops to jointly build innovative solutions
• Expert support on issues such as open innovation, venture clients, and best collaborative practices (acceleration services)

The project targets specifically issues related to connection, data governance, e-governance and cybersecurity.

The acceleration pathway is based on a two-stage methodology that aims to connect companies and start-ups and formalise these partnerships on issues related to open innovation.

MATCH: Identify opportunities and build connections between start-ups and companies 

For large corporations:

• Publish specific opportunities (“challenges”) on a dedicated platform
• Identify relevant start-ups
• Initiate discussions and establish partnerships

For start-ups:

• Register on the platform and identify opportunities aligned with their offers
• Connect with established companies
• Develop real partnerships

BUILD: Develop and structure partnerships

• Formalise an EU-LAC partnership
• Apply to the calls for projects (Open Calls) to benefit from acceleration services
• Develop a customised roadmap with experts
• Access specialised services (including business plans and prototyping)
• Launch innovative collaborative projects to address the actual needs identified by both parties for open innovation (joint ventures). For example, this includes venture clienting, corporate venture capital (CVC), and mergers and acquisitions

Sustainable Mobility and Robotics Innovations for Last-Mile Delivery (Spain–Chile)

Vaive Logistics (a spin-off of Carnet, a company belonging to the Volkswagen Group), a Spanish company specialising in autonomous delivery robots, was connected with Tet4D, a Chilean start-up specialising in AI-powered route planning. Through this collaboration, Tet4D's AI solution was integrated into Vaive Logistics' robots, helping to speed up last-mile deliveries while reducing costs and emissions.

FinTech and Geospatial Technologies: Towards More Sustainable Business Models for Colombian Farmers (Ireland–Colombia)

CarbonSpace, an Irish company specialising in the use of satellite data and artificial intelligence to measure carbon sequestration on farms, was connected with Preserva, a Colombian start-up specialising in blockchain technology. With support from the programme, CarbonSpace's technology was integrated into Preserva's solution, enabling these measurements to be converted into carbon credits. The aim is to help farmers measure their environmental impact and then monetise it through a green token system that rewards their investments in more environmentally friendly farming practices.

Smart Procurement: Anticipating Raw Material Price Fluctuations with Predictive AI (Spain–Chile)

Ormazabal, a Spanish manufacturer of electrical distribution solutions, was facing fluctuations in raw material prices, particularly copper, aluminium and galvanised steel, which were driving up procurement costs and complicating purchasing decisions. Through its connection with Bork Analytic, a Chilean start-up specialising in AI-powered procurement solutions, Ormazabal gained access to a predictive analytics platform for raw material prices, enabling the company to anticipate market fluctuations, optimise purchasing decisions and protect its profit margins.