Contxto – There’s been so much bad news lately courtesy of coronavirus (Covid-19). But here’s some really great news for a change!
500 Startups Latam announced today that it’s officially looking for 10 participants to join its four month-long accelerator program.
Of course, besides the mentoring and networking shabang, every selected startup will benefit from an investment for US$60,000.
Founders interested in participating have until April 26 to apply.
Latam Startups, where are you?
Despite the pandemic outbreak, the startup show must go on.
And 500 Startups LatAm is moving forward to spot regional talent and help them grow despite these unusual circumstances, as René Lomelí, a Partner at 500 Startups so eloquently explained.
“To find and back the most talented entrepreneurs from our region to build successful businesses has always been our objective, and that hasn’t changed,” said Lomelí in a statement.
“Given the current situation, we believe that now more than ever, it’s crucial we continue working as an investment fund to fulfill this goal. We believe in startups’ great potential to take on challenges like those we’re facing today and [we believe] in them as an opportunity to transform our region for the better.”
The team at 500 Startups Latam is currently working at a distance and it’s important you consider that the program may be changed to operate remotely in July.
If you’re pumped and ready to apply, check out this page.
And in other news—at 500 Startups San Francisco…
The accelerator from Silicon Valley announced last Thursday (26) that it’s modified its model to accept startups into its San Francisco program on a rolling basis. This change is now in effect so startups can sign up for its four-month seed program at any time of the year.
In any case, its Demo Days will still be held twice a year and accepted applicants can still expect high-tier mentoring throughout their participation in the program.
- Related article: 2 startups from Latin America made it into 500 Startups’ 26th batch
Under its previous model, if a startup applied but was still not quite “mature enough” for the program’s specified design it was either a), not accepted into the program or b) if it was, it couldn’t make the most of the experience because its design wasn’t catered to tend to the startup’s unique needs.
As a result, 500 Startups is becoming more flexible not only in terms of when it accepts applicants, but in its approach with entrepreneurs too.
“We’ve designed an entirely new platform that’s flexible and tailored to our founders’ timing and needs—not our own,” announced Blumenthal.
“Our goal is to move away from the one-size-fits-all approach of the past, and towards delivering relevant content, based on each founders’ growth stage and needs, precisely when they’re ready for it.”
Venture capital (VC) firms and accelerators always wag their well-funded fingers and lecture businesses on the importance of innovating to make a meaningful impact.
So it’s nice to see 500 Startups does as it preaches. Will others follow suit?
If you want to apply, check out this page and best of luck!
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