“A winner is a dreamer who never gives up” - Nelson Mandela
September 28, End Of Day
Aquit: Pioneering advanced biotech solutions, Aquit addresses the challenges of sustainable aquaculture. With a natural immunity booster and a focus on replacing antibiotics, they've formed R&D alliances with giants like Abbott and other key players. Their commitment to sustainability is evident, having secured a prize in the Global Aquaculture Challenge. Moreover, their solutions aim to improve yields by enhancing survival rates and promoting health & growth. Dive deeper into their case here.
tuGerente: Delving into the domain of financial and inventory management, tuGerente stands as a beacon for SMEs in Latam. Their platform not only handles over 2M transactions and analyzes over 600k reports monthly but also integrates loans based on both informal and formal data. With a strong emphasis on inventory management and integration, they've been EBITDA positive since November 2022. Their collaboration with over 700 paying SMEs further underscores their impact in the sector. Dive deeper into their case here.
Dive deeper into other fundraising firms in LATAM here.
AI holds the potential to revolutionize development models in Latin America and the Caribbean, making them more productive, inclusive, and sustainable. This was the consensus at the launch of the first Latin American Artificial Intelligence Index at the Economic Commission for Latin America and the Caribbean (ECLAC) in Santiago, Chile. ECLAC's Executive Secretary, José Manuel Salazar-Xirinachs, emphasized the need for a strategic approach to AI, considering ethical concerns and data privacy. The event highlighted the importance of creating an environment conducive to AI, including digital infrastructure and skills. The Index, developed by Chile's National Center for Artificial Intelligence (CENIA), provides insights into AI's status across 12 regional countries. Investments to AI startups in Latin America has also soared over the past years.
Recent news from this sector:
Brazil: US President Joe Biden and Brazilian President Luiz Inacio Lula da Silva announced an initiative to advance workers' rights during a meeting at the UN General Assembly. The US-Brazil Partnership for Workers' Rights aims to promote decent jobs, good wages, and ensure workers benefit from digital and green energy transitions. The initiative also seeks to combat workplace discrimination, end forced and child labor, and harness new technologies like AI for the benefit of workers.
Paraguay: Paraguay's president, Santiago Peña, has warned that the Mercosur bloc of South American nations will end trade treaty negotiations with the EU if a deal isn't finalized by December 6, expressing frustration over talks that have lasted over two decades. Peña emphasized that the EU's delay, due to demands for additional environmental commitments, is viewed as protectionism, especially given South America's competitive beef and wine exports. If the treaty isn't concluded by the deadline, Mercosur plans to pursue trade negotiations with Asian countries.
Mexico & Brazil: Brazilian Finance Minister Fernando Haddad highlighted that Brazil, Mexico, and India are well-placed to attract investments due to various advantages they offer. Haddad emphasized Brazil's environmental capabilities and potential to become a leading manufacturer of "net zero" products. He also mentioned a forthcoming meeting with 25 U.S. investors in Sao Paulo and urged the Mercosur bloc to finalize its trade deal with the European Union, amidst political developments in Argentina that could impact the bloc.
The first Latin American Artificial Intelligence Index, developed by Chile's National Center for Artificial Intelligence (CENIA), offers insights into the state of AI across 12 countries in the region. The Index, also known as ILIA, evaluates factors such as AI development, governance, perception, and foresight, highlighting disparities with Mexico and Brazil holding nearly 95% of AI patents.
Read more about the Latin American Artificial Intelligence Index here.
