Last night the 7th generation of StartUp Perú was announced. 84 startups, including 14 from outside Lima, were selected to receive support from Innovate Peru, a program run by the Peruvian government.
Startup Perú has demonstrated the benefits of a consistent, multilevel, inclusive approach to building startup communities.
Lessons for the startup ecosystem:
Consistency. Seven generations in seven years is a high achievement, especially considering the political events in Perú over the same period. Lesson: Each event/program/generation on its own may not be perfect, but repetition and iteration are keys to startup success.
Multi-level. The 7th generation includes 62 early-stage (emprendedores innovadores) and 22 later-stage (emprendimiento dinámicos) startups, which will receive different levels of support. Lesson: The startup lifecycle requires different support at each stage.
Inclusive. Judges for the program come from the local entrepreneurial ecosystem and include founders, the leaders of the startup community. Lesson: Get founders involved.
The results of this approach are coming to fruition. The first generation of 23 startups included Joinnus, an event ticketing platform that recently reached 1 million active users. The success factors mentioned will ensure that the impact lasts many years in the future.