500 Startups selected 11 startups from Mexico, Argentina, Chile, and Colombia. For their 10th generation winners, 500 Startups will invest US$60k and provide a 16-week accelerator program that will take place in Mexico City.
This year’s application process included 1420 applicants from Latin American countries, marking a 50% increase compared to last year. This variation indicates development and maturity in the region’s growing ecosystem.
“Latin American entrepreneurs continuously show us how vibrant our region is in terms of business opportunities. As a fund, we have the great fortune to evaluate thousands of companies year after year, and invest and work hand in hand with extremely talented entrepreneurs that can create a positive change in economic development,” said René Lomelí, 500 Startups’ Director of Operations.
In addition to an investment of $60K, 500 Startups also provides the selected companies with a 16-week accelerator program that takes place in Mexico City.
“We are very excited to work with the 11 companies that form part of our 10th generation. We believe that our program will have a great impact in areas like marketing, operations, and finance, preparing our entrepreneurs to raise subsequent rounds of capital, and above all, to create a business with sustainable growth that will have the potential to be a leader in the industry,” said Didier Quiroz, 500 Startups’ Venture Partner.
The selected companies are AddShop (Chile), AppHive (Mexico), Baubap (Mexico), Come Bien (Mexico), DB Menos (Mexico), Etiner (Chile), Little Bookmates (Mexico), Net Worth Consulting (Mexico), Slik (Argentina), Tourbitz (Colombia), and Vico (Colombia).
Read more on this press release from 500 Startups.