Promoting the entrepreneurial skills of young people in Bolivia through “My first business” contest

Contest ‘My first business’

Following a call from the Municipal Secretary of Economic Development, around 1.300 talented young people shared their entrepreneurial projects and ideas during the seventh edition of the “My First Business” Contest (“Mi Primer Negocio” in Spanish) held in La Paz, Bolivia from May to August 2023. After a rigorous training and selection process, 49 exceptional ventures emerged as nominees, and from this select group, 27 remarkable projects or business ideas won in four innovative categories: Innovation, Young Entrepreneur, Green Entrepreneurship and Social Inclusion. The Mayor’s Office awarded a total of 80’000 Bolivianos in prizes, demonstrating their commitment to promote entrepreneurship. Skat Foundation played a fundamental role in this contest, collaborating with Fundación Ser Familia and other organizations, such as CODESPA and Save the Children, to provide support, guidance and resources to young entrepreneurs.  

Beyond the celebration of innovation, this contest seeks to enrich the living conditions of young people in the municipality of La Paz, through the successful materialization of their ventures. The collaboration with Fundación Ser Familia has been essential for the realization of the activities related to the contest, contributing significantly to the empowerment of young entrepreneurs and stimulating economic growth at the local level.