ScaleUp Bolivia

From the official announcement

Project Background, Goals, and Objectives Bolivia has one of the largest informal economies in Latin America, with a significant portion of entrepreneurial activity occurring outside formal business structures. Many entrepreneurs operate small-scale businesses in sectors like retail, food services, construction, and personal services without formal registration, limiting their access to credit, legal protections, and growth opportunities. These informal businesses also face barriers to adopting modern business practices and technologies, including U.S.-based financial management tools and digital solutions that could enhance their competitiveness. By bringing businesses into the formal economy, ScaleUp Bolivia will expand the customer base for U.S. products and services, create more reliable supply chain partners for American companies, and open new markets for American technology providers and suppliers. The program will strengthen the rule of law and economic governance, reduce unfair competition in the marketplace, increase municipal tax revenues that support local development, and generate economic growth that benefits both Bolivian communities and U.S. commercial interests. Additionally, formalized businesses become better positioned to engage in international trade and adopt U.S. business standards, creating a foundation for sustained bilateral economic partnership. Project Audience(s): Primary beneficiaries should include: •Informal entrepreneurs currently operating outside the formal economy who are ready to legitimize their businesses. •Micro and small business owners in sectors such as retail, food services, construction, and personal services lack knowledge of formalization processes. •Entrepreneurs who face additional barriers to entering the formal market due to limited access to information, capital, and networks. Project Goal: The project goal is to transition 100 informal Bolivian businesses into the formal economy within 12 months by providing world-class entrepreneurship education, formalization guidance, and U.S. business partnerships, thereby expanding markets for American products and services while strengthening Bolivia's economic governance and creating sustainable commercial ties between Bolivian entrepreneurs and U.S. companies. O Objective 1: Business Formalization and Education Enroll 100 informal Bolivian entrepreneurs in world-class business education through the Najafi 100 Million Learners Global Initiative and formalize at least 40 businesses within 12 months through guided support on registration, tax compliance, permits, and financial management using U.S.-based tools. Objective 2: U.S. Commercial Partnerships Establish commercial relationships between at least 20 newly formalized Bolivian businesses and U.S. suppliers or technology providers within 12 months, generating purchases of American products and services and expanding markets for U.S. companies. Objective 3: Institutional Collaboration and Economic Impact Partner with Bolivia's tax authority, municipal governments, chambers of commerce, and U.S. fintech companies to streamline formalization, increase municipal tax revenue, create 150+ formal jobs, and establish a peer network of 50+ entrepreneurs for sustained growth and U.S. business engagement. Expected Outcome: The program should achieve the following outcomes within 12 months: formalize at least 15 businesses per city; connect at least 20 newly formalized businesses with U.S. suppliers or s…