Welcome to our series of articles about the innovative programs of Bridge for Billions. Throughout this series, we will explore in detail how our programs are transforming the landscape of global entrepreneurship, empowering early-stage entrepreneurs and strengthening entrepreneurship support ecosystems. Each article will focus on one of our three main types of programs: direct programs, ToT (train of trainers) programs, and the Conecta program. This article is the first in our series. If you want to learn more about our other programs, you can read about ToT programs and the Conecta program.
The direct programs of Bridge for Billions are incubation initiatives designed to provide comprehensive support to entrepreneurs from the idea stage to the creation of a sustainable business. These programs offer personalized mentoring, practical tools, and a structured learning environment. These programs are funded by various organizations, including corporations, foundations, development agencies, and governments.
With these programs, organizations aim to achieve different goals:
- Foster economic growth and job creation.
- Strengthen local entrepreneurship ecosystems.
- Promote access to opportunities for all people.
- Support the development of solutions to real problems.
- Engage their workforce to become mentors.
Strategy and customized design
Each of the direct programs of Bridge for Billions begins with a strategy and design phase that lasts approximately one month. During this period, we work with our partners to define the program’s architecture, branding, and communication. This phase is crucial. It ensures that the program aligns with the specific goals and needs of our clients and entrepreneurs.
Launch and selection
In the next 1-2 months, we focus on finding and selecting entrepreneurs and mentors. We use a matching process based on purpose and skills. This way, we ensure that each entrepreneur is paired with the ideal mentor who can guide them effectively.
Practical incubation
The heart of our direct programs of Bridge for Billions is the 4-6 month incubation period. During this time, entrepreneurs participate in an online platform. This includes individualized mentoring and eight practical learning modules. This “learning by doing” approach allows them to develop their business plan. They also prepare to face real market challenges.
Closing and evaluation
Finally, we dedicate one month to the closing and evaluation phase. We hold closing sessions, issue certificates, and organize a Demo Day. Additionally, we prepare an impact report of the program. We track the impact for two years. This way, we ensure that entrepreneurs continue to progress and grow.
Case study: Program with VISA
A standout example of our direct programs of Bridge for Billions is the collaboration with the VISA foundation. We support small and micro businesses led by minorities during and after the pandemic. This program supported up to 122 entrepreneurs in America. Over 200 VISA employees were involved as mentors. They provided valuable guidance and fostered internal collaboration. The initiative showed VISA’s commitment to underserved businesses during COVID-19. Additionally, it plans to expand to Europe. It highlights its scalability and impact in supporting early-stage SMBs through social innovation.
For more details about this case study, you can download the full business case here.
Impact
Since their creation, the direct programs of Bridge for Billions have proven to be extremely effective. Over 70% of our alumni continue with their projects two years after the program. 62% have created jobs, and 43% have obtained funding. These results underscore our commitment to promoting more robust and inclusive economies.
Conclusion
At Bridge for Billions, we believe in the power of entrepreneurship to transform lives and communities. Our direct programs not only provide entrepreneurs with the necessary tools for success. They also create a lasting impact on local economies. Join us and be part of this transformation!
