Starting a new business involves different challenges such as getting an innovative idea, obtaining capital to implement it, and having access to the market, among others. In addition, the entrepreneurship segment uses a technical language and complicated procedures that are not easily understood by all people, limiting their ability to undertake.
Wakanda is an initiative started in 2019 and was chosen in the Resilient Salvador Challenge for its social impact enhancing the local economy and empowering women. Wakanda translates the contents of the business ecosystem into an accessible language, easy to understand by most of the people. The initiative is oriented to work with historically excluded populations, such as the Afro-descendant population, the LGBTTIQ+ community, women, and particularly Afro-descendant women.
Many women are head of household, working in informal economy to support their families. To access a formal economy could improve their income and increase their sales. However, the processes to start a business are complex and only the people with the knowledge have possibilities to access the market, increasing the inequality gap.
As a response, Wakanda coaches and offers tools for people to understand the entrepreneurial environment. The initiative has special focus on women, particularly Afro-descendants, to promote their financial autonomy, their empowerment and the improvement of their living conditions. Wakanda has trained almost 1,000 people.
Wakanda is a contribution to the Resilience Strategy of Salvador by promoting work and economic growth. It contributes to reducing social inequality gaps and promoting the adaptation of people, especially women, to new work environments.