Entrepreneurs of the TIC Americas will protect their ideas through blockchain

Washington DC, November 18, 2019 - The young entrepreneurs that participate every year in the Talent and Innovation Competition of the Americas (TIC Americas) will now be able to safeguard their ideas against hackers, imitators, and unfair competitors with an innovative use of the powerful technology of blockchain. 

Within the framework of the Entrepreneurship Global Week 2019, the Young Americas Business Trust (YABT) – organizer of TIC Americas - and the technology company IPPASSPORT (ippassport.io) signed an agreement that aims to empower the participants in the TIC Americas competition by helping them to protect and monetize their intellectual property.

“According to the philosophy of the program, we provide the young people of the hemisphere with access to leading technologies, while also training them to be prepared with the necessary strategies and international legal knowledge on intellectual property” explains Luis Viguria, CEO of YABT. “We celebrate this partnership with IPPASSPORT, since it helps us to promote innovation and protect the entrepreneur as they grow in the global market”.

IPPASSPORT combines decentralized data storage and an encrypted system, also known as blockchain technology, to protect documents of all kinds – text, pictures, audios or videos. The participating entrepreneurs in TIC Americas will directly log into their app through the TIC Americas’ platform. Once there, they will be able to complete their profile, upload the documents that contain their ideas, and instantly obtain a certificate of intellectual property to certify different aspects of their proposals. 

“IPPASSPORT is going to add value to their startups from the beginning.  We are going to watch their backs throughout their entrepreneurship path.  From the idea to the business plan, and from the outline, or a handed written receipt on a paper, to the design and plans of the prototype”, says Ignacio de Leon, CEO of IPPASSPORT, the Washington DC based startup. 

IPPASSPORT will issue a combination of certificates for each participant, in addition to a practical online course offered, where they will learn why intellectual property is important and how it can be protected from the very first stages of their businesses. The entrepreneurs will learn of the advantages and limitations of the patent systems and the different copyrights, along with the more modern commercial secrets of the protection methods.

The TIC Americas is a program which includes the Finals phase that takes place in the framework of the General Assembly of the Organization of American States (OAS). It has been consolidated as one of the most important platforms to foster innovation and competitiveness in the Western Hemisphere. From its launch in 2007, 45,109 young people have registered 29,692 social and environmental business proposals.  Around 380 teams have reached the Finals in their different categories, and more than 500 experts from all around the world have participated as judges and mentors.

The YABT and IPPASSPORT invite the young and innovative entrepreneurs of the region to present their proposals and participate in the 2020 edition of TIC Americas in their three categories: Startup Challenge, Eco-Challenge and the Caribbean Innovation Competition.

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