Impact Waves Links Mexican Startups with Corporates for Impact

Wayra, Telefónica’s open innovation and corporate venture capital arm, and BID Lab, the innovation laboratory of the Inter-American Development Bank Group, announced the launch of Impact Waves in Mexico, a program connecting corporations with high-impact startups to tackle urgent sustainability challenges.

The initiative applies a “venture client” model, tested with over 200 Latin American companies, guiding corporations through a five-month process. Participating firms define and prioritize challenges, connect with startups via specialized scouting, implement pilot projects, and measure results using clear impact metrics. Costs are shared among multiple corporations, while BID Lab provides technical support and co-financing to help scale solutions.

“Through open innovation, we want to collaborate with initiatives that create business impact while advancing sustainability and social inclusion,” said Carlos Flores, head of business development, Wayra Hispam.

Impact Waves targets sectors such as energy, agribusiness, mobility, circular economy, health, education, and financial and digital inclusion, aiming to transform corporate demand for sustainable innovation into concrete partnerships with measurable social and environmental outcomes.

Mexico ranks 43rd in the 2025 Global Startup Ecosystem Ranking by StartupBlink, with 1,137 startups and 2.6% growth from 2024. Funding sources include venture capital, angel investors, public sector programs, and corporate venture units. Wayra has invested US$287 million in over 1,100 startups across its markets, maintaining an active portfolio of more than 530 companies.

“Impact Waves converts intention into action,” said Melissa Rojas, senior innovation program manager, Wayra Hispam and executive director of Impact Waves. “In five months, we define challenges, activate scouting, and bring each corporation to a pilot with measurable results and capacity to scale.”