Peru enters its 75th day of government mandated quarantine today. Unfortunately, despite the quick, strong action to enforce physical distancing, Peru continues to be deeply affected by the coronavirus.
I was recently reminded of the Stockdale Paradox, which highlights the benefits of balancing optimism with reality when faced with extreme challenges. James Stockdale was a Prisoner of War in Vietnam. He said the following:
Continue reading “The long haul”
Few local Peruvian investors backed Diego Olcese when he launched Edtech startup Crehana out of college. Now he is one of the most sought after founders in Latin America.
Continue reading “Crehana adds a key Peruvian investor”
The members of PECAP have chosen new leaders to set the course for the coming year and continue to build the venture capital asset class in Peru.
Maria Pia Morante, of Acumen LatAm Capital Partners, and Meghan Stevenson-Krausz of INCA Ventures became new members of the PECAP Board and continuity was achieved as Alain Elias, of PAD – Red de Inversionistas Ángeles , Martin Aspillaga, of Salkantay, and Jose Deutsua of UTEC Ventures will continue another year. Jose Deustua takes the helm as President, after the very successful leadership of Alain Elias that culminated in the recent publication of the 2019 Report.
Continue reading “PECAP’s new leadership team”
Each startup in Latin America is affected by the repercussions of Covid-19 in a unique way. The impact often depends on how the startup entered the crisis and the sector in which they operate.
At the onsite of the crisis, forward-looking startup investors were quick to present action plans and decision matrices that stressed cost-cutting, hiring freezes and doing everything possible to extend runway. The Sequoia Matrix and the Kaszek Survival Guide have been great resources founders in Latin America.
The precise measures to be taken are a bit more nuanced and there is no one-size fits all aproach.
Continue reading “Startup strategy framework for Covid-19”
Crises can divide or unite. In the case of the fintech community in Peru, the Covid-19 pandemic and fallout has helped to bring together entrepreneurs in the local fintech community.
Continue reading “Fintechs unite”
Startup founders are used to thinking big and building projections of exponential growth based on highly scalable business models. Weekly, monthly, and annual projections are the typical guideposts for determining whether execution is on plan. Unfortunately, the Covid-19 pandemic has caused projections to go out the window.
Today, some much remains uncertain that it is impossible to accurately project what will happen. Startups need a new set of guideposts to determine what is happening and make crucial decisions on what need to be done.
Continue reading “Scenario planning”
Last month the Peruvian Seed and Venture Capital Association, PECAP, published its Directorio de Miembros PECAP 2020. This is a great step to provide access to information on active early stage investors in Peru.
Continue reading “The 2020 PECAP Directory is out!”
Amazon Web Services (AWS) has increased its presence in Peru and, with that its support of local startups. Alex Harasic, who previously founded startup Operatio, is now Business Development Manager, Startups & Venture Capital, for Chile and Peru.
Continue reading “AWS steps up support of startups in Peru”
The current Covid-19 outbreak has put pressure on governments to act. Peru’s goverment has taken quick, drastic action. So far, it has stood out as a model globally.
According to the International Survey on Coronavirus, with over 100,000 participants so far, Peru sits on the spectum of most extreme government reaction and most truthful government communication.
Continue reading “Peru is setting an example”
Startup founders are used to crisis and leading through change is part of founders’ mental make-up.
What is happening now is unexpected, unprecedented, and harder.
Continue reading “This is hard”
Solidarity among Peruvians has remained strong during the first weeks of the goverment-mandated quaratine period. Citizens are staying home and doing their best to manage the challanges brought by the novel coronavirus.
This solidarity of the general population has extended to startups, many of which are in a great position to provide support. In some cases, this support comes in the form of providing resources and ideas for managing time at home. In others, startup support comes in the form of a digital channel to provide direct resources to people most in need.
Continue reading “Startup solidarity”
Startups in Peru and across Latin America are quickly responding to people’s needs. As local governments ask, or require, citizens to stay home, demand for in-home services has increased.
Local startups are playing a role in keep all of us calm and focused. Their solutions can be an important resource or valuable distraction.
Continue reading “Startups providing in-home resources”
For the next few weeks many companies with implement remote work. Startups that have launched with remote DNA are prepared. This will be a competitive advantage compared to corporations with structured work days whose employees will take time to adjust. A flexible mindset allows startups to think about hiring talent and selling to customers who don’t live in the same city.
Continue reading “Remote Work 101”
Startup ecosystems need ambassadors. People who connect with neighboring communities to share good news and build bridges.
Javier Benavides, Manager of BBCS Capital and co-founder of Investa VB has spent time over the last year building important links between Peru and other members of the Pacific Alliance countries.
Continue reading “El embajador”
We started Ruta Startup two years ago to share the progress of the Peru startup community through the eyes of people across the ecosystem.
It wouldn’t have been possible over the last twelve months without the writing and feedback from active members of the startup community, including Luis Narro, Jose Garcia Herz, Jia Li Tan, Andres Benavides, Enzo Cavalie, Ivonne Quiñones, Carlos Rodrich, Anson Tou, Renzo Reyes, Elias Mufarech, Diego Bartra, Ernesto de Olazaval, Charlotte Ducrot, Paola Mego, Valeria Reyes and Oriana Fuentes.
Continue reading “2 years of Ruta Startup!”