Capital venture firm 500 Startups has set up its Latin American office in Mexico City, also announcing that the majority of 18 companies it chose for its sixth round of a startup acceleration program are based in Mexico.
Among the selected startups are the country’s online retailer of fashion goods #LOOKEA, a homecare marketplace for the elderly called Asistia, and contact lens vendor LECO. Even secondhand car broker TipiTop has won a chance to hone the skills of business operation.
Other startups in the list include Civica Digital, Deporprivé, HostTonight, HoyPido, Yaydoo, and CuidaMiMascota. Most of the Mexican firms chosen for acceleration cover industries such as e-commerce, food tech, logistics, and government services.
But what set them apart from other firms are their unique business model and service offering. BackStartup, for example, provides back-office services for startups and small businesses, offering to help them with their accounting and legal responsibilities.
Pre-owned car marketplace Tipitop has built a network of certified mechanics and sellers, who verify every car that goes through their platform to assure the quality of the vehicle.
Another startup with distinctive offering is Civica Digital, whose technology platform brings together both government officials and the general public. It allows citizens to rate public services and procedures, helping governments to improve their service.
CuidaMiMascota connects pet owners with pet sitters. If you are a pet owner and looking where to leave your pets when you are out traveling, CuidaMiMascota will guide you. “Our pet sitters, animal and pro animal rights people, get to make a little extra money doing something they love,” says the company.
Founded by Benoit Roques, deporPrivé is a Mexican-based sport-specific flash sales website where members receive exclusive access to sales from brand partners. HoyPido, founded by Nicolás Parziale, lets you order food in just few strokes on your mobile keypad. You’ll get an SMS when the food is at your door.
To identify the prospective entrepreneurs, the accelerator says it conducted more than 100 founder interviews. Each company will receive US$65,000 in investment and earn a chance to participate in the four month training program.
Executives of these firms will soon be invited to take part in training sessions, where they will be taught how to master the common but essential features of their business such as marketing, finance, and legal, as well as product development.
Training programs will take place in the Mexico City office, which 500 startups says can accommodate up to 150 people. This Mexican office, says the accelerator, will be ‘home’ for its growing Latin America operations. The office, according to its statement, will also offer a workspace for startups.
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