In a strategic move to foster innovation and strengthen the entrepreneurial landscape in Latin America, Rockstart, a seasoned player in startup acceleration, is injecting a significant sum of USD $6 million into propelling the development of ten carefully chosen startups. With a seven-year presence in the region, Rockstart brings tailored programs aimed at catapulting these companies onto the international stage.
Competitive Investment and Tailored Development Plans
The investment landscape is set to witness a transformative wave, as Rockstart's initial agreement stands out as one of the most competitive in the region. Each of the selected startups, hailing from Colombia and Chile, is set to receive an initial investment of $100,000 USD. This commitment underscores Rockstart's dedication to fueling the growth of these enterprises.
Building on past successes, where 82% of startups completing the Rockstart program secured subsequent investments, totaling over USD $40 million, the accelerator's impact is undeniable. These success stories also highlight the startups' impressive growth, with their average size quadrupling since the program's inception.
Customized Programs for Unique Challenges
Rockstart's programs are not one-size-fits-all; they are meticulously tailored to meet the distinct needs of each startup. With 100% customized initiatives, the accelerator aims to address both corporate and personal challenges faced by the selected companies. The investments are designed to craft individualized development plans, ensuring a strategic and targeted approach to growth.
Meet the Chosen Ten
The selected startups cover a diverse range of industries, reflecting the dynamic landscape of innovation in Latin America:
- Brincus: An educational platform democratizing access to quality education.
- Cactus: A platform streamlining IT infrastructure acquisition through automation.
- Carga ya: Driving digital transformation in road freight transport and promoting financial inclusion.
- Celes: An AI and data analysis platform converting retail data into cash flow.
- Dodo: A mental well-being platform strengthening individuals and organizations.
- Linnda: A plug-and-play data analysis and activation tool for understanding customer behavior.
- Lucro: Offering actionable data for better decision-making through technology and software services.
- Palatierra: An AgTech platform facilitating farm and agricultural project management through technology.
- Sportscrowd: A Direct2Fan platform unifying fan interactions with their favorite clubs.
- Swetro: A platform for virtual races and fantasy leagues for real-life physical activities.
A Growing Startup Ecosystem
Rockstart's initiative aligns with the evolving landscape of Latin American startups. According to a study by Endeavor and Glisco Partners, startups in the region raised USD $406 million in the first quarter of 2023, marking a 40% increase from the same period in 2021. While indicating recovery, this growth hints at a slowing pace compared to previous years.
Felipe Santamaria, CEO of Rockstart Latam, expressed optimism about the selected startups. He stated, "These companies are shaping up to be one of the best cohorts in all these years, with 80% already operating internationally. It has historically been the cohort with the highest average revenue, with powerful and high-level teams."
Rockstart's strategic investment and tailored programs signal a renewed push for innovation in Latin America, with these ten startups poised to make a significant impact on the regional and global stage.