Fellowship / 2-minute read
The Latin American ecosystem is often overlooked and underestimated, but it presents a wealth of opportunities for entrepreneurs who are willing to take the leap.
Last week, the START Fellowship Program hosted its first Demo Day at the Google office in Zurich, where 10 startups in the program pitched their innovative ideas. As their stories are very interesting themselves, we will cover them in their own posts in the next weeks. In addition to the pitches, a panel of ex-fellows and mentors shared captivating insights into the general ecosystem in Latin America.
One of the main differences between LatAm and Europe is that Latin America has an unstable environment, which makes it challenging for entrepreneurs to succeed. Despite this challenge the region presents numerous opportunities for startups that are willing to take risks and innovate. Jan Heinvirta (Co-founder Perfecto) emphasized the vast infrastructural opportunities and the high possibility of being the first and best in a particular niche, which makes the LatAm market an attractive founding ground for startups.
Moreover, ideas that have worked in Europe can be expanded to the LatAm market, offering a vastly untapped market for entrepreneurs to explore. The region's unique cultural landscape also offers a wealth of opportunities for startups.
However, there are still misconceptions about the LatAm ecosystem that the panelists sought to clear up. One of the biggest misconceptions is that there is a shortage of talent in the region. Humberto Barrón (Co-founder Nerit’e) and Mateo Bolívar (Co-founder Contler) shared that in reality, the region is home to many talented individuals who are passionate about making a difference in the world. The panelists also highlighted the efficiency and resourcefulness of entrepreneurs in LatAm, who are known for their hard work and determination to succeed.
Humberto shared a particular funny anecdote that showcases the differences between Europe and Latin America perfectly: “If something in a project doesn’t work germans will reformulate the whole strategy and LatAms will ghost you for 2 days and then come back with “So I had this problem but I solved it”
In conclusion, the LatAm ecosystem presents a wealth of opportunities for entrepreneurs who are willing to take risks and innovate. Despite the challenges, there is a growing community of entrepreneurs in the continent who are committed to making a difference. With initiatives like the START Fellowship program, there is no doubt that the LatAm ecosystem will continue to grow and thrive, inspiring a new generation of entrepreneurs to explore its untapped potential.