Impact Minds: Beyond Frontiers 2024
By: Daniel Uribe, Executive Director of the Corona Foundation
"Latimpacto is a meeting point for the social ecosystem of Ibero-America, making this conference a unique experience to connect and strengthen alliances in favor of development and social transformation."
With the diversity, authenticity and ancestral knowledge of Oaxaca as a backdrop, the most recent Latimpacto meeting, held in September 2024, was much more than a space to share experiences.
From the early hours, the buzz of ideas and the presence of Latin American foundations and organizations created an atmosphere conducive to bringing together leaders committed to social transformation in Latin America.
As the Corona Foundation, we attended the event with a delegation of 5 people, representing our country along with more than 150 Colombians from important national organizations such as the Bolívar-Davivienda Foundation, Saldarriaga Concha Foundation, Santo Domingo Foundation, WWB Foundation, Bancolombia Foundation, SURA Foundation, Zoraida Cadavid Foundation, AFE, among many others that are part of the impact ecosystem in Colombia.
This year we also had a role as organizers of the event and, as in past years, our participation was motivated by a great desire to explore, share and delve deeper into topics of social and financial innovation, and their impact on people's quality of life.
In the first panel on employment and income opportunities for youth, I shared the stage with organizations that are part of GOYN (Global Opportunity Youth Network), such as the Copper Foundation, the BRF Institute, the "La Caixa" Foundation, and the Anglo American Foundation. The discussion focused on how pay-for-performance models can become tools for real impact for Latin American youth, highlighting strategies like youth job "pools" to offer tangible opportunities to young people.
The second panel I participated in focused on using information for strategic decision-making and also included experts from Brazil, Argentina, and Mexico. During my presentation, I highlighted the "Cómo Vamos" model, a quality-of-life monitoring initiative that has fostered informed decision-making in Colombia. There, I explained how data can be more than just numbers: it's a resource for evaluating equity in quality of life and access to opportunities, which is crucial in an information-saturated world. A clear challenge emerged from this discussion: the challenge lies in using data effectively to generate social well-being.
Beyond participating in panels, our delegation also reaffirmed its commitment to exploring new forms of financing, especially to boost digitalization.
Rafael Arias, Education and Employment Manager at Fundación Corona, focused on learning about initiatives that are transforming the economic reality of young people working in the informal sector or generating income through micro-businesses (this group faces the challenge of developing skills and receiving socio-occupational guidance, a key need within this area of impact). Meanwhile, David Páez, Financial Manager at Fundación Corona; Paola Paternina, coordinator of "Quiero Ser Digital" for GOYN Bogotá; and María Paulina Gómez, leader of the "MÁS Pago por Resultados" program (initiatives we manage and support at the Foundation) held strategic meetings with partners such as the Inter-American Development Bank (IDB), Instiglio, Social Finance, and ACDI/VOCA.
The event was also a lesson in respect and recognition of local identities. Philanthropy based on trust and ancestral knowledge resonated with us attendees, inviting us to reflect on the value of building solutions from the ground up.
A memorable experience was the alebrije workshop, where artisans created a circular economy model based on indigenous techniques. This model offers a valuable lesson on how communities develop solutions rooted in their own context and culture—something we must deeply recognize and value.
Another topic that captured my interest was catalytic philanthropy: trust, systems, and other principles that guide the foundation. At Fundación Corona, we are committed to proposing innovations based on these same values of change and collaboration.
In short, Latimpacto was a space for close interaction and networking with other funders, where I found, once again, an excellent opportunity to connect with the social ecosystem of Latin America. For Fundación Corona, this event was not only a platform for showcasing our initiatives, but also a source of learning to enrich our future projects. As Lorena Guillé-Laris of Fundación FEMSA said, and it resonated with the audience: “We can see constellations where others only see stars.”
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Findings from the Education and Employment Management
By: Rafael Arias, Education and Employment Manager at Fundación Corona
During Latimpacto 2024, I had the opportunity to attend the "Magic Hands Weaving Realities" event, organized by the manufacturer Someone Somewhere. There, I witnessed how a social enterprise can generate value, develop skills, and create sustainable income for small entrepreneurs. Someone Somewhere ensures the use of recycled materials so that a community of weavers can create yarns and fabrics that are then integrated into textile products designed with artificial intelligence and sold in boutiques and to large clients. Today, many of these weavers own their own looms, have begun to create jobs, and have managed to preserve a traditional craft of Oaxaca.
This experience reinforced the importance of valuing and promoting ancestral knowledge and practices, which left those of us who attended the visit deeply inspired.
Likewise, panels such as “Sustainable Value Chains as Tools for Development and Inclusion,” “How to Bring ESG Principles to SMEs,” and “Innovation in Value Chains for Social Impact in Latin America” demonstrated that social enterprises are key pieces of the puzzle. These companies not only add the value that the end consumer expects, but also connect small production units with sustainable income and capital flows.
Reflections from the Quiero Ser Digital Marketplace
By: Paola Paternina, coordinator of "I Want to Be Digital" for GOYN Bogotá
I took advantage of Latimpacto 2024 to deepen my understanding of innovative collaboration and funding models that promote the digital inclusion of young people in Latin America. From what I heard in various panels and conferences, I want to highlight the potential of connecting blended finance strategies and impact technology with programs such as youth training and employment funds. This approach aligns with Quiero Ser Digital's mission to promote educational pathways that respond to the growing demand for digital skills in today's job market, enabling young people with potential to integrate sustainably into the digital economy.
Also, from the experience I highlight the presence of allied organizations and the possibility of establishing relationships with other actors in the ecosystem, as it allowed us to visualize concrete projects to strengthen the labor market integration of young Colombians in a regional context.
From the event, I also want to highlight the importance of sharing experiences that combine impact investing and technology as an engine for social inclusion, elements that will enrich the Quiero Ser Digital programs and strengthen their impact on vulnerable communities in Colombia.
Reflections from the “More Pay for Results” program
By: María Paulina Gómez, leader of the "MÁS Pay for Results" program
“The results-based conversation is, above all, a conversation about impact.”
Colombia has positioned itself at the center of the conversation on results-based finance. Various actors in the Latin American ecosystem have taken the country's example as a benchmark, especially the one led by SIBsCo, along with SECO, the IDB, and Fundación Corona. During Latimpacto 2024, I heard this discussion from diverse perspectives, including those of Colombian stakeholders like Inversor, technical experts like Instiglio, and international case studies such as Costa Rica.
One of the main takeaways from these conversations was the importance of aligning ourselves on the impact we all seek to achieve. To accomplish this, philanthropic capital plays an essential role by catalyzing, driving, promoting, and facilitating innovation. Only after establishing this foundation can we explore mechanisms to amplify that impact.
As Sawa Nakagawa of AlphaMundi Foundation said, “If you want to go fast, go alone. If you want to go far, go together.” This message underscores the importance of collaboration between the public and private sectors, as well as among ecosystem actors, highlighting that the work must not only be systemic but also grounded in solid principles and partnerships that multiply its impact.
