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Contxto – Seedstars Summit is once again on the lookout for the best startups and founders in Latin America. Newsworthy, as usual. This time, though, a new country will join the race for the ultimate title and funding: Venezuela.
Every year, Seedstars launches a summit where startups from all around the world compete in their local ecosystems in hopes of reaching the regionals, and eventually, the worldwide finals.
The competition takes places in more than 80 emerging markets, seeking to discover and meet the greatest startups around the world. These contenders compete at the local, regional, and if qualified, global level.
This year, Venezuela will also partake in the competition, enabling national ventures to compete and potentially win big praise and prize. Some of these include US$500 thousand worth of investment plus perks from partnering companies. The first annual Venezuelan competition sponsored by Ecoem will take place from July 22 to 23 in Caracas.
Eligible companies should have raised less than US$500 thousand to date, and they must be beyond the power-point stage – aka, having a minimum viable product already.
Companies across Latin America can first look forward to winning their local contest. If successful, they could go on to compete in Seedstars LatAm Summit in Mexico City. These regional finals will then select the top companies from the continent. Some winners will also earn prizes from partnering corporations including AWS, Hubspot, Zoom, among others.
On July 22, an internal bootcamp with a group of mentors will coach and evaluate aspiring startups. Only eight will end up presenting the following day for the final pitch. From this group, one will represent Venezuela in the regional finals in Mexico City.
Startup applicants should also be scalable and adaptable both regionally and globally to remain competitive. Expectations appear to be high from Venezuelan entrepreneurs since it will be the first time this event is taking place in the country.
“We have heard a lot about the ecosystem in the country and now we are here to witness the reality,” said Juliane Butty, Regional Manager of Seedstars World in Latin America.
She added, “We are also experts in identifying which are those whose growth and scale we should support and how. We are impressed by what we have seen in the region so far and we can not wait to add startups from Venezuela on our map.”
Startups can register here until July 9 to compete for “Venezuela’s Best Startup” title. After Mexico City’s stage, the world cup will eventually take place in Switzerland.