“It is not true that people stop pursuing dreams because they grow old, they grow old because they stop pursuing dreams.” - Gabriel García Márquez
October 19, 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. Get to know the case here.
Avancargo: B2B trucking platform that provides carriers and shippers with better availability by connecting supply and demand. Avancargo provides transparent management towards all those involved in the logistics chain. With over 100k registered and audited trucks and with more than 2k monthly trips, Avancargo has become the household name for logistics in Southern South America. Get to know the 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. Get to know the case here.
Dive deeper into other fundraising firms in latam here.
Recently published Global Innovation Index 2023, shed light on the global innovation trends and revealed the most innovative economies in the world. Several developing economies are performing above expectations on innovation relative to their level of economic development. In Latin America, Brazil holds the top position in the Global Innovation Index, followed by Chile and Mexico. Uruguay and El Salvador improved their positions this year. Also, Uruguay is leading some of the ranks, for instance, being 4th globally for their‘Policies for doing business’.
Here some key takeaways on the global level:
Top 3 countries in Latam:
1. Brazil (49th globally)
2. Chile (52nd globally)
3. Mexico (58th globally)
Mexico: Mexico's government is reviving a century-old railway between the Gulf of Mexico and the Pacific Ocean in a $2.8 billion bid to compete with the Panama Canal for container traffic. The project aims to attract multinational companies looking to be closer to the US and capitalize on the Panama Canal's issues related to low water levels due to frequent droughts in the region. While Mexico is optimistic about the railway's potential, experts suggest it could take years to build the necessary infrastructure and attract global logistics players.
Venezuela: The US is easing sanctions on Venezuela after the country's socialist government and a US-backed opposition faction resumed talks. The US Treasury department has issued licenses allowing transactions in Venezuela's oil and gas sectors, as well as dealings with the national gold mining company Minerven. Some existing sanctions on Venezuelan bonds and state oil company Petróleos de Venezuela (PDVSA) have been amended, but a ban on primary trading remains. Venezuelan bond prices surged after the trading ban was lifted, potentially paving the way for debt restructuring and attracting Wall Street investors.
Ecuador: Daniel Noboa, a 35-year-old business scion, has won Ecuador's presidential election with over 52% of the vote. He pledged to address the country's economic challenges and rising crime, vowing to create jobs for young people and house dangerous criminals on prison ships. Noboa's victory is seen as a shift away from his father's populist rhetoric and the prior government's policies, and he aims to attract foreign investment and develop Ecuador's business sector. Ecuador's economy has struggled since the COVID-19 pandemic, leading to increased crime and emigration.
Check our recently published insights here, to read more about latam’s tech ecosystem.
Recent posts:
Fintech in Latin America: Trends and Opportunities
Latin America is emerging as a global leader in fintech. This evolution has been propelled by multiple factors, including increased internet and mobile device adoption, regulatory changes, and the region's distinct demographics. The vast underbanked population and outdated banking systems, has risen as a dominant force in fintech investments in recent years. Innovations in lending, payments, insurance, and other financial services have disrupted the traditional financial sector in the region.
Read the rest of the analysis here.
Proptech in Latin America: Exploring the Momentum
The rise of proptech signifies a new era in real estate, with tools streamlining transactions and enhancing customer experiences. Latin America's burgeoning middle class, urbanization trends, and technological advancements are creating a favourable environment for proptech's growth. The region's housing deficit of more than 43 million flats, underscores the urgency and potential of these innovations.
Read the rest of our analysis here.
The episode 25 of the Find The Way podcast is out:
🧬Sequencing Success: Latin America's biotech startups are decoding their way to the top.
A decade ago, Latin America's biotech scene was in its infancy; now, with over 200,000 researchers and pioneering tech advancements, the region is soaring. Discover how genome sequencing, CRISPR, and the fusion of the biological and digital realms are driving innovation. With the cost of a PhD being a fraction of that in the US or Europe, Latin America presents a unique advantage. Dive into this episode to explore the transformative journey of biotech in the region.
We explore the story of how Biotech venture capital was born in Latin America with the founder of GRIDX, Matías Peire. They are the first Biotech Company Builder in Latin America.
Listen here.
