Latin America is fast on its way to becoming a major world market. This land of opportunity represents significant prospects for growth and is hungry for new business.
The conditions for entrepreneurs have improved dramatically and Latin American governments have been investing in the technology industry and education. This has resulted in a number of thriving tech scenes with a wealth of IT talent across the region. With over 640 million people and an approximately $6 trillion GDP, the region has been able to nurture the growth of a new breed of unicorns. Moreover, VC investments are anticipated to reach US$2.5Bn in 2018 (up from US$1.1Bn in 2017 and US$ 600m in 2016). Not only that, internet and mobile internet user growth is now outpacing the US.
LATAM EXPANSION TRACK offers a global “big picture” approach together with expertise from local industry leaders and awareness of local specifics. Our program has been crafted to guide participants to effectively avoid the common pitfalls of expanding to a new market while keeping their vision and priorities intact.
Unlike consultancy based approaches, this unique track is designed to offer founders an expansion tool box along with ongoing on-the-ground support, team skill development and access to investment capital.
LatAm Expansion Track is targeted at high growth, early stage companies who:
- Are currently based in North America, Europe or Asia
- Are seeking growth opportunities in new markets
- Wish to assess opportunities and/or expand in Latin America
- Have a proven product/service, a solid position in their home market and monthly recurring revenues
- Are willing to adapt their offering to the Latin American market
Soft Landing in Brazil, Colombia and Peru
Business development and market discovery
Customized market entry strategy
Partner and customer connection (warm introductions, industry events)
Marketing and communications support
1:1 mentoring with latin american founders and other region experts
Education (seminars, workshops and webinars)
Support finding the right service providers - operations, legal, HR, tax
- $150k in Funding, including $20k in cash*
- Vested advisory equity (1-2%), awarded based on pre-arranged revenue targets.
- Follow on investment based on program engagement and market penetration post program.
- Track participants are responsible for lodging, travel and associated expenses.
*Convertible Note. To be signed with the parent company.
Starta Ventures, established in 2015, has brought over 80 startups from Europe and helped them successfully establish and grow in the US market.
BrightSky Ventures, established in 2017, provides corporate venture capital solutions to bridge the gap between small and medium sized businesses and the global innovation ecosystem in North America, Latin America, Europe and Israel.
We are ready to take Starta’s hands-on attitude and experience in bridging markets and join forces with the expertise and experience of Bright Sky to help your business scale to its full potential.
A 3 month program that provides a solid theoretical base, helps build and solidify necessary practical skills and acquire and develop invaluable business contacts.
December 3, 2018 - February 1, 2019
Market Entry Strategy
Partner, Customer and Investor outreach planning and tactics
Operations, Legal, HR, Tax considerations
Demographics, trends and geopolitical considerations
Prepare and schedule relevant meeting for phase 2
New York / Remote
February 2 - March 15, 2019
1:1 Meetings with investors, potential customers and local partners
Investor demo events
1 week Brazil + 1 week Colombia + 1 week Peru
April - December 2019
After program support
Ongoing Business Development
Marketing and communications support
In-country support from Starta and BrightSky local and global networks
Synergies within program cohort and connection to new markets in Mexico, Argentina and Chile via upcoming track iterations
Why isn’t [Other Latin American Country] included in the program?
Given the intensive nature of the program, we are focusing on maximizing impact and depth of connection in specific regions. If program participants show overwhelming interest in other Latin American markets, additional track content will be considered on a case by case basis.
I’m already in Latin America, but still wish to grow my business in one of the program’s target countries. Can I still apply?
Yes. Companies that have already begun the process of expansion can still benefit from the program. Although the Latam Expansion Track is intended for companies with no significant Latin American presence, the content is tailored based on the individual needs of each company.
Who from our team should participate?
This program is intended for ‘C-level’ executives. Ideally, at least two people from each company should participate fully in the program, including the executive responsible for executing the company’s Latam strategy and the CEO.
Is there a maximum number of participants from each team?
Teams are limited to three participants per company.
Could I end up in the program with a competing company?
We will avoid placing two direct competitors in the program. It is however possible that two companies may operate in the same vertical (such as AgriTech) or horizontal (such as AI).
How do I know if my products or services will work in Latin America?
In general, any product or service that works in North America or Europe can work in Latin America. Keep in mind though that many Latin American markets are still underserved and underdeveloped compared to the USA and elsewhere. For instance, there still exist significant opportunities in SaaS (B2B and B2C), E-Commerce, FinTech, banking tech and many other sectors.
Our company has never received VC funding. Can we still apply?
Absolutely. VC funded companies tend to be heavily growth focused and therefore ideal targets for this track. However, any established growth focused startup is encouraged to apply regardless of previous funding.
I can’t afford to spend so much time away from the office and I don’t want to waste our money on flights. Is there an alternative?
We understand that travel and time away come at a cost, especially when the outcomes are unknown. Although face to face meetings are best, this approach will not be practical for every team and every meeting. Depending on circumstances it will be possible to work with your team to reduce the travel commitments.