500 Startups is looking to promote Latino companies with its 'Somos Lucha' program
Grow Your Business, Not Your Inbox
Do you have a tech startup? The investment fund 500 Startups is looking for companies in Latin America with the aim of accelerating their growth and investing in them through its "Somos Lucha" program.
10 startups will have the opportunity to live the Somos Lucha experience, a program that seeks to add value in a personalized way to take them to the next level and prepare them to obtain their next investment round. For four months the founders will receive advice and mentoring remotely.
The fund will invest $ 60,000 in each of the companies selected in its call to help them grow. 500 Startups are committed to building long-term relationships and becoming the best partners early-stage founders can have.
Image: Courtesy of 500 Startups.
The directors of this fund at the Latam headquarters clarify that it is not an acceleration program, but rather an accompaniment that bears the name of Somos Lucha, with a new concept and format focused on meeting the specific needs of each startup. In the call for this edition there are also changes in the registration and selection process. Here we tell you the most relevant things to consider:
Stage 1: Preparation period from May 17 to June 6
You will be able to enter the official website , log in and know all the questions of the call. You can also start answering them with the option to save and edit as many times as you want during this period.
Stage 2: First deadline to register from June 7 to 13
From this date the button to apply will be enabled on the same site. If you prepared your application in advance you will be able to apply in the first term, you will only have to log in to your account and click on the "apply" button. If you have not started your registration yet or have not finished preparing it, you can do it and apply.
Stage 3: Second deadline to apply from June 14 to 20
This is similar to the previous one but with two variants. Entrepreneurs will receive a response after applying to the call, and a little slower depending on the volume of participants. If you apply during the second term, you run the risk that the 10 places available for the program will be filled.
Stage 4: Potential third term to apply from June 21 to 27
This period was known as "late applications" and now it will only be available in case the investment fund does not bring together the 10 companies. That is why it is important that you do not leave your registration last.
Companies will be evaluated in the order in which they apply. In addition, 500 Startups will make investment offers as soon as it identifies a brand that is of interest to it, even if it has not finished evaluating the other companies. This means that if you delay in applying even with the deadline open, you run the risk of not reaching one of the 10 places to participate in the program.
With this support, the headquarters of 500 Startups in Latam has invested in more than 200 early-stage companies from different countries such as Chile, Mexico, Argentina, Colombia and Peru. Among the most successful companies in which it has invested are Konfío, Conekta, Justo, 99 minutos, Platzi and Ayenda.