When 10 is < 1%

This week the 500 Startups Latam batch 10 was announced. Eleven startups were selected out out of 1,420 applicants – an acceptance rate of 0.8%!

Patrick Wakeham, CEO of Apurata, presenting at the 500 Startups Investor Night in Lima, Peru.

It is a good reminder that:

  1. The number of startups across Latin America is growing. The growth of applicants compared to batch 9 in 2018 was over 50%.
  2. Startup investors are very selective. Being chosen for any program, including StartupPeru, UTEC Ventures, or LIQUID Ventures Studio, is a big deal. Founders and investors in these programs can be proud of what they have accomplished and know they are in special company.
  3. Founding teams from Peru belong to the exclusive 500 Latam community. Apurata, Decompris, Rebajatuscuentas.com, and Fitco are all part of the #500STRONG family. None of the startups from batch 10 are from Peru, but not being selected isn’t a reason to give up, it’s a reason to keep trying.

Last night, 500 Startups held its first Investor Night of 2019 at Comunal Coworking in Lima. The event was a sponsored by Porto Legal. A great collaboration of leading startup community players in Peru and Latin America.

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