Top learnings from 42Geeks Latam, by aihui ong
General Partner at Transform Capital
I recently embarked on an insightful journey to LATAM with a group of investors and founders organized by 42Geeks. Here are my top learnings:
🌟Challenges Unveil Opportunities - LATAM saw a 51% decrease in VC funding. Startups are struggling to raise. However, LATAM people are no strangers to constant change and adversity, which has instilled a resilient culture across the region. LATAM founders have the inherent DNA to rise and thrive in tough times.
🌟Solving Structural Problems - Startups in LATAM focus on solving structural issues for a vast population. Smartphone penetration across the region is rapid. By 2025, 81% of the population will have a smartphone. These verticals have received the most VC funding - fintech, ecomm, healthtech, logistic, edtech, retail etc.
🌟Multiplier Effect - While the LATAM startup ecosystem is young, the region is experiencing the exponential impact of the multiplier effect where successful LATAM entrepreneurs are mentoring, investing and inspiring the next generation of entrepreneurs.
🇧🇷 Brazil - With 200M+ people, Brazil itself is a huge market. Sao Paulo, Brazil ranks #1 on the Startup Ecosystem in LATAM. I had the pleasure of learning from prolific investors like Julio Vasconcellos, Veronica Allende Serra, Rodrigo Vieira and meeting high-growth startups like Mottu and Spectra Investments.
🇺🇾 Uruguay - A small country of only 3.5M people, Uruguay’s main startup ecosystem advantage is the country’s stability. It’s a safe place to live and with a great education system and aggressive tax incentives, Uruguay has successfully attracted a pool of high-quality tech talents. I had the pleasure of learning from Nico Berman and Hernan Kazah from Kaszek Venture (former MercadoLibre founders).
🇦🇷 Argentina - Despite the current economic turmoil, Argentina is still one of LATAM’s biggest economies in terms of GDP. Successful Argentina startups include Mercado Libre ($MELI on Nasdaq), Auth0 acquired by Okta for $6.5B and more. I had the pleasure to learn from prolific investors like Rebeca Eun Young Hwang from Kalei Ventures and meet startups like Etermax and many female founders.
The most important takeaway was the friendship & memories I’ve made with the group of crazy geeks who toured LATAM with me, the speakers and the gracious hosts from each country.
