Do you have a tech startup? The 500 Startups mutual fund is looking for companies in Latin America with the aim of accelerating their growth and investing in them through the Somos Lucha program.
10 startups have the opportunity to live the Somos Lucha Experience, a program designed to add value in a personalized way to take them to the next level and prepare them for their next round of investment. The founders are advised and supported remotely for four months.
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 that early-stage founders can have.
Image: Courtesy of 500 startups.
The directors of this fund at its headquarters in Latam make it clear that this is not an acceleration program, but an accompaniment that bears the name Somos Lucha. The new concept and format is designed to meet the specific needs of each startup. There are also changes in the registration and selection process in the call for submission of this edition. Here we explain the most important things to consider:
Stage 1: preparation time from May 17th to June 6th
You can go to the official website, sign up and know all the questions of the call. You can also answer them with the option to save and edit as many times as you want during this period.
Stage 2: First registration period from June 7th to 13th
From this date, the Apply button will be enabled on the same site. If you have prepared your application in advance, you can apply in the first term. All you need to do is log into your account and hit the “Apply” button. If you haven’t started your registration or haven’t finished preparing, you can do so and apply.
Stage 3: Second application period from June 14th to 20th
This is similar to the previous one, but with two variations. s receive a response after the application, which is a little slower depending on the number of participants. If you apply during the second semester, you run the risk of filling the 10 places available for the program.
Level 4: Possible third term from June 21 to 27
This period was known as “late filings” and is now only available if the mutual fund fails to bring the 10 companies together. It is therefore important that you do not leave your registry last.
Companies are rated in the order in which they apply. Additionally, 500 startups will make investment offers as soon as they identify a brand that is of interest to them, even if the evaluation of the other companies has not yet been completed. This means that if you delay the application even after the deadline, you run the risk of not reaching any of the 10 spots to join the program.
With this support, the headquarters of 500 startups in Latam has invested in more than 200 young companies from different countries such as Chile, Mexico, Argentina, Colombia and Peru. The most successful companies the company has invested in include Konfío, Conekta, Justo, 99 minutos, Platzi and Ayenda.