She's Argentinian, Incubated a Startup at MIT, and Now Finances Workers Who Reject Banks

In a remarkable display of innovation and social impact, Argentine entrepreneur Mercedes Bidart is revolutionizing access to financial services for those often excluded by traditional banking systems. Bidart, who incubated her startup at the prestigious MIT, has developed an AI-powered platform that empowers workers in the informal economy. This initiative directly addresses the critical issue highlighted by the World Bank, where a significant portion of adults in low and middle-income economies struggle to access formal credit.

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I was obsessed with how technology could support the growth of businesses like my parents'.

Bidart's journey began with a deep-seated desire to support small businesses, inspired by her own family's entrepreneurial background. After studying Political Science at the University of Buenos Aires and volunteering with Techo, an organization focused on housing and habitat in underserved communities, she pursued a master's in urban planning at MIT. It was there, fueled by her passion for leveraging technology to solve societal problems, that the seed for her groundbreaking project was planted. Her initial vision was to create a digital marketplace for informal workers, facilitating peer-to-peer exchange and community-based commerce without reliance on traditional currency.

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If someone cut hair, they could earn points and later use them in the same neighborhood for other services.

This innovative concept, initially born from her master's thesis, evolved into Quipu with the support of organizations like the Colombian Fundación Santo Domingo. Quipu's success lies in its ability to foster economic inclusion by providing a digital space where individuals can gain visibility, offer their services, and participate in a system of exchange, often through a points-based model. By harnessing artificial intelligence, Bidart's venture has already positively impacted over 300,000 individuals, offering them a pathway to economic stability and growth that was previously inaccessible. This is a story that resonates deeply within Argentina and Latin America, where the informal economy plays a crucial role, and where innovative solutions are desperately needed to uplift communities and foster sustainable development.

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In that first year and a half, nothing went right. However, the work helped us gather information that allowed us to understand the problems.