e-formality and skills development

Pitch Day: The power of innovation

During the event, the finalists of the 2nd Skills Challenge Innovation Call will present their ideas to boost formalization through technology and skills development in the region.

The 158 million people working informally in the region were severely impacted by the adverse economic effects of the COVID-19 pandemic, which caused job losses, massive departures from the labour force and a sharp reduction in labour income. This impact mainly affected women, due to their over-representation in the informal economy.

According to available data, workers in the informal economy are more than three times likely to have no education or only primary education compared to workers in the formal economy. Similarly, informal enterprise owners are about twice as likely not to be educated or have only a primary level of education compared to those operating formally.

To contribute to the recovery of formal employment in the region after the massive job losses caused by COVID-19, the ILO launched earlier this year a call for innovative solutions that, based on the use of new technologies, promote skills development to facilitate the formalization of labour and economic units in Latin America and the Caribbean.

More than 60 applications were received, out of which five proposals were shortlisted as finalists (see finalists here). The finalists will pitch their ideas to a panel of international experts in the "Pitch Day: The Power of Innovation”, a live event to take place on 4 November 2021 at 10:00 (Lima time) / 12:00 (Brasilia time) / 16:00 (Geneva time).

All of them will compete for a chance to win USD 30,000 (first prize) and USD 20,000 (second prize), as well as receive expert support for prototyping and implementing their solutions and opportunities for making connections and getting global visibility.

Prior to the event, the finalists were invited to a virtual training programme to help them to develop and communicate their proposals more effectively. They also received personalised coaching to enhance the visibility of their projects to potential partners.

Simultaneous interpretation in English, Spanish and Portuguese will be available. In addition, the public will be able to vote for their favourite idea.

Register to join the live event: