Understanding Innovation in Latin America

Ilya Prokopoff is guest blogging for the Forum. He is a Partner at IDEO in USA and will be attending the World Economic Forum on Latin America.

Hello WEFLA community.

I am excited to be here. With the World Cup and the Olympics in the not-too-distant-future; the persistent upward march of the Brazilian economy; and the ever-growing attention on the world-stage: this is a unique moment to be in Brazil. Over the next few days, I’m looking forward to a more expansive understanding of what innovation in Latin America means, not only as a Partner at IDEO  but also as an individual incredibly invested in the region. IDEO has developed a portfolio of clients and work in the region, primarily in Brazil, but also in Peru, Mexico, and the Dominican Republic.

I’d love your perspectives on:

• Where are the most innovative and inventive things happening?
• What are the unique conditions of the economy, society, and peoples’ behaviors that lead to surprising, new opportunities?
• What is the equivalent of “Silicon Valley” (IDEO is headquartered in Palo Alto) in Latin America?
• What unique conditions in the Private, Public, and Social sectors drive new action, and create new competition?

At IDEO, we’re incredibly inspired and interested by “leap-frog” opportunities. For instance, in Brazilian financial services, the financial performance of regular savings accounts sidesteps the need for people to embrace investments as part of their wealth strategy. Enticing people to invest requires a much different approach than what you find in the far-less-naturally-buoyant U.S. market. What other dynamics might demand new approaches for change in Latin America? Healthcare? Public services? Education? On-line community development? What differences exist in Latin America countries due to the profile of their natural and created resources?

At WEF LA, I am excited to find a few answers to these and other questions.

My colleague, Beth Viner, and I aim to have quick conversations with a number of you about where you are seeing innovation opportunities across Latin America. I’ll capture what we’re learning, play it back to you through this blog, hope others will build on it to add to the thinking, and make the conversation as rich as possible.

Looking forward to meeting you.