Favela Inc's three-year incubation and professional skills training program converts five slum-based entrepreneurs and startups into world-class leaders and innovators.
In the favela, dealing with a lack of basic education, job training, and economic opportunities, challenges startups face nearly impossible odds of achieving success. Investors rarely invest in these high-risk startups due to a lack of confidence in founders' professional skills. As a result, the ventures in the slums tend to last a short time, and the entrepreneurs again surrender to low-paying, low-skilled underemployment far from their homes. They tend to quit their dream of a better life.
Our 3-year incubation programs support startup founders through all the phases of business creation, from ideation to business model development to fundraising. Entrepreneurs receive mentorship and professional training in marketing, management, finance, and personal development, giving them the necessary tools to thrive in a competitive marketplace. We accompany them all the way to success to ensure they survive through the startup phase and beyond.
By cultivating a thriving startup ecosystem, we encourage investments into the favela economy, generating new revenue streams. We prove that these investments can be both profitable and impactful, thus instating confidence in a traditionally excluded society from the thoughts of innovators. This encourages young leaders to consider entrepreneurship a viable path to a higher quality of life beyond the traditional options of low-skill, poorly paying jobs or drug trafficking.
