Fostering Entrepreneurship-Led Economic Development in Juruti

In 2023, Alcoa embarked on an ambitious journey to empower the communities within our operating locations through the launch of a comprehensive skills development program. With Brazil as the pioneering location, this initiative is dedicated to enhancing access to vocational training and educational resources, aiming to equip individuals with the necessary skills to thrive in today’s economy.

Located in the Amazon region of Brazil, Juruti is the first community to benefit from this skills development initiative implemented in collaboration with Instituto Alcoa and Alcoa Foundation. The initiative is also supported by partner institutions, such as the US Agency for International Development (USAID), Parceiros pela Amazônia (Partners for the Amazon), CIT Foundation, Centro de Empreendedorismo da Amazonia (Entrepreneurship Center of the Amazon), Consulado da Mulher Institute (Consultate Women’s Institute) and Juruti Sustentável Institute (Sustainable Juruti Institute).

The first round of funding went to three projects. Each of these projects uniquely addresses a critical area of community development.

• The Dona’s Project, in partnership with Instituto Alcoa, supports and empowers women entrepreneurs by providing them the knowledge, skills and resources they need to develop their businesses and achieve greater autonomy and income generation potential. A cohort of 94 women entrepreneurs participated in the training program in 2023.
• The Banco Juruti Sustentável (BANJUS) project aims to stimulate the development of entrepreneurship and sustainable businesses across the Juruti region by providing access to capital. In 2023, with funding from Alcoa Foundation, BANJUS initiated a pilot program that invested US$120,000 into 34 different enterprises with the potential to have a positive impact on the local community.
• The Juruti UP project led by Centro de Empreendedorismo da Amazonia (CEA) focuses on supporting the creation of sustainable businesses in a variety of sectors, such as forestry, biodiversity, agroforestry, agriculture, fishing, tourism, gastronomy and creative and cultural industries. Thanks to a grant from the Alcoa Foundation, the Juruti UP project was able to provide training for 451 young entrepreneurs in 2023.

To highlight the results of these projects, Juruti held its first ever Sustainable Business Fair. The event was a regional success, with 241 entrepreneurs and 50 local enterprises participating, bringing in a total R$45,000 in new business.

This program is not just an investment in human capital; it is a strategic alignment with Alcoa’s long-term goal of fostering economic wellbeing and sustainable growth. By nurturing talent and facilitating skill acquisition, we are committed to contributing to the prosperity of our host communities and achieving shared growth.