Description
The U.S. Department of State's Embassy La Paz announces an open competition to implement the ScaleUp Bolivia program, a program designed to transition 100+ informal Bolivian businesses into the formal economy while creating partnerships with U.S. companies and expanding markets for American products and services. The program will provide world-class entrepreneurship education, formalization guidance, and U.S. business partnerships to informal Bolivian entrepreneurs. The primary beneficiaries of the program will be informal entrepreneurs currently operating outside the formal economy, micro and small business owners in sectors such as retail, food services, construction, and personal services, and entrepreneurs who face additional barriers to entering the formal market due to limited access to information, capital, and networks. The program has three objectives: to formalize at least 40 businesses within 12 months, to establish commercial relationships between at least 20 newly formalized Bolivian businesses and U.S. suppliers or technology providers, and to partner with Bolivia's tax authority, municipal governments, chambers of commerce, and U.S. fintech companies to streamline formalization and provide ongoing support.
• The program will strengthen the rule of law and economic governance in Bolivia.
• The program will reduce unfair competition in the marketplace and increase municipal tax revenues.
• The program will create a peer support network of formalized entrepreneurs and generate economic growth benefiting both Bolivian communities and U.S. commercial interests.
• The program will expand the customer base for U.S. products and services and create reliable supply chain partners for American companies.