Entrepreneurship in Latin America is not easy, but there are some Latino ventures that emerged to help others and have been successful. On Hispanic Entrepreneurs We present these examples to inspire you.
Situation of Latino entrepreneurship
According to the World Bank, entrepreneurship in Latin America forms many companies, but little innovation. That is, they introduce new products or services at a slower rate than other countries. An exception to this is Brazil, which invests 1% of its GDP in research and development.
For its part, the Economic Commission for Latin America and the Caribbean (ECLAC) determined in 2020 that the pandemic would end 19% of Latino ventures. So, given this negative outlook, some have taken the opportunity to launch new ideas that go hand in hand with empathy.
The founder of Mercado Libre, Marcos Galperín considers that this is the best time to undertake because there are angel investors. In addition, there are more public and private institutions and NGOs willing to help in this area.
Latino ventures that arose to help others
Seeking the benefit of others beyond financial gain has been the key for many Latino startups to emerge and succeed. Here are some who succeed by doing a good deed by knocking down paradigms.
1-Mamotest
It is defined as the first telemamography network in Latin America that aims to reduce breast cancer mortality through technology. In addition to optimizing resources to achieve significant reductions in the state budget. They also promote laws so that women have sanitary facilities.
Likewise, when betting on digital they do not use acetate and celluloid that degrade from 70 to 80 years. This gives them the B certification that companies that have triple impact have.
The idea arose in a conversation between the Argentine radiologist Guillermo Jorge Pepe and his son Guillermo Pepe, an international entrepreneur. These professionals agreed to bring technology closer to women so that they had access to an early diagnosis. All through telemedicine.
They installed mammograms in remote places. They created a network of 300 doctors who analyze and send the results to patients within 24 hours. They have carried out more than 350 thousand diagnoses since it was put into operation with the support of the government and companies in the health sector. The idea is to improve the health of low-income women, improve access to early diagnosis so that they receive timely treatment.
Mamotest has been awarded by Chivas Venture as one of the 26 disruptive social businesses. They work hand in hand with Endeavor Argentina to promote Latino entrepreneurs.
It was distinguished as the best company B in the world (Best for the World). He received the Humanitarian Health Award from the American College of Radiology for generating social impact in low- and middle-income countries, among others.
It has the support of the Inter-American Development Bank (IDB), the United Nations and the Harvard Business School.
2-Sinba
It is a Peruvian company that is dedicated to giving proper use to the tons of food that reach the garbage. It was founded in 2016 in Lima to offer waste management, collection, training and processing services. They are based on the circular economy.
One of the solutions it promotes is the recycling of food scraps to use them as pig feed or compost. Apart from the restaurant organic waste treatment service. Then they market the food to the pig farmers.
It has a household garbage collection network. Transforms organic waste into compost, and biofuel oil. Due to its impact, it obtained the certification as a company B.
It sells compostable bags, containers, reusable masks, among other products in its online store.
3-Edge
It is an enterprise created in 2013 by the Guatemalan Juan Fermín Rodríguez. It offers solar energy to families and businesses in towns and villages without connection all over the world. He was motivated by the knowledge that 1.2 billion people do not have the service.
Under the motto "lighting lives", Kingo It is powered by a smart energy system (solar hardware) and business innovation and data management software. All of this adds up to achieve a scalable energy service at affordable prices.
It does so through solar panels with prepaid mode (daily, weekly or monthly). They only cancel the consumption, not the equipment, nor the installation. They provide access to lighting and power electronics.
It also aims to create the world's largest clean energy user base. The goal is to install 140 computers in 2022 to benefit 500 people. They will expand to Mexico and Panama.
Kingo obtained investment from the IDB, the Netherlands Development Bank and the French energy company Engie. As well as the support of the UN and the Massachusetts Institute of Technology. Also the attention of actor Leonardo DiCaprio known for his fight to protect the environment, in fact he is an investor and advisor to the company.
4-D&E Green Enterprises
This Haitian company that sells low-energy portable stoves to low-income communities.They are made with recycled materials and save 50% energy, having a positive impact on health and the environment.
This Latino startup allows retailers to distribute the cookstoves. In this way they manage to double their income with the support of microcredits, giving them health insurance and educational scholarships. Since 2009, it has sought to break the cycle of poverty in the country by providing the population with energy technologies at low cost and high efficiency.
With this project you contribute to the elimination of stoves that use solid fuels that negatively impact the environment. The goal is to reduce the use of coal by 50%.
5-Momlancers
It is a labor consultancy for Mexican freelance mothers created in 2017 that connects professionals with companies that need their services. So they can work remotely to continue caring for their babies.
They provide companies with high profile talent, availability and speed of operation and social impact. It gives mothers flexibility, the possibility of development and practicality. The services available are landing page creation, writing, consulting, web apps, marketing and production.
Forbes Mexico included the company among the 20 promises of 2021. They seek to expand the number of companies that use their services and be a reference in Latin America.
6-Avoid
It gives Paraguayan families the opportunity to have their own home. It helps them have access to progressive housing, that is, they can buy smaller versions that are ready for extensions.
The project called Unika-Viviendas Progresivas is supported by Koga Social Business. It is developed within Vision Banco's Building Dreams home financing program.
I10 Latam, a continental-scale award, was included among the 3 best social enterprises in Latin America.
7-Speak it
This app designed by the Argentine Matteo Salvatto It is used for people with hearing disabilities to communicate. It has a text-to-speech, speech-to-text translator, various tools that can be used without an internet connection. It has more than 100 users in the world
It is aimed not only at deaf people, but at anyone who has problems that make it difficult for them to speak. It does not generate direct income, but through the Háblalo for Business application, it offers companies to serve people with these disabilities.
The company is working on creating apps to help people with Alzheimer's and people with motor problems. It has the validation of Google, MIT, Congress of Argentina, and Peking University.
8-Puntored
It is a platform (Fintech as a service) that allows unbanked people access to the financial system. As well as to contribute extra income to small businesses in Colombia. Its system connects with banks, public institutions, insurance companies, retailers, etc.
It was the first to launch subsidy payment services and to carry out electronic wallet transactions. They later incorporated national money orders, remittance payments, and prepaid television services.
It won the 13 Latam award for being one of the 10 startups with the greatest social impact by NewVentures, AShoka and the Swiss Cooperation Fund.
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