Startups in Brazil and Latin America - SXSW 2017
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Presentation given at South by Southwest (SXSW) 2017 in the Startup Village track. Presenting the history of the Brazilian startup ecosystem and the opportunities of investing in Latin America.
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Startups in Brazil and Latin America - SXSW 2017
- 1. Startups in Brazil (and Latin America) Bruno Peroni
- 2. PART 1: Who am I?
- 3. Semente Negócios Co-founded 6 years ago, lean startup pioneer +7K impacted entrepreneurs 326 startups trained in 2016
- 5. WOW Accelerator One of the first and most active in Brazil 32 companies in portfolio 98 angel investors in the network
- 6. PART 2: What is Brazil?
- 7. #7 largest economy (PPP) #74 in GDP per capita (PPP)
- 8. #7 largest economy (PPP) #74 in GDP per capita (PPP) 3.8 hours/day on social media
- 9. Political crisis and corruption scandal Coming out of a deep recession (stock market hit its all-time record in February)
- 10. Political crisis and corruption scandal Coming out of a deep recession (stock market hit its all-time record in February) Huge consumer market: A group of 3 entrepreners own Burger King, Kraft Foods and a part of Bud
- 12. Phase 1: the bubble (1995-2005) The foundation
- 14. Internet provider Acquired by Telefonica (Undisclosed) Price comparison Acquired by Naspers (US$100MM)
- 15. Internet provider Acquired by Telefonica (Undisclosed) Price comparison Acquired by Naspers (US$100MM) Mobile solutions Controled by Naspers: +US$150MM investment
- 16. Phase 2: the dawn (2005-2015)
- 17. Phase 2: the dawn (2005-2015) Network effects of success stories Government support
- 18. Training and capacity building: SEBRAE US$1B of funding to foster small companies
- 19. Training and capacity building: SEBRAE US$1B of funding to foster small companies Accelerator subsidies: Startup Brazil program co-invested with accelerators.
- 20. Training and capacity building: SEBRAE US$1B of funding to foster small companies Accelerator subsidies: Startup Brazil program co-invested with accelerators. Venture Capital subsidies: state-owned corporate pension funds and govt agencies are the largest LPs.
- 21. Phase 2: the dawn (2005-2015) Network effects of success stories Government support
- 22. 5 influencer forces of success stories Inspiration Mentorship Investment Serial entrepreneurship Spinouts Source: NYC Tech Report (Endeavor, 2014)
- 24. Who then funded +20 companies Serial entrepreneurship
- 25. Who then funded +20 companies Serial entrepreneurship Investment
- 27. Who then funded more 30+ companies Serial entrepreneurship
- 28. Who then funded more 30+ companies Serial entrepreneurship Investment
- 29. All of these companies raised more than US$15MM
- 30. Phase 3: maturity (2015-?) Mature VC (Venture Capital) industry Density Risks
- 33. Four major cities: São Paulo, Florianópolis, Belo Horizonte and Rio
- 34. Phase 3: maturity (2015-?) Mature VC (Venture Capital) industry Density Risks
- 35. US$360MM invested by VCs in 2015 but still largest in Latam* Small but growing: Source: ABVCAP/KPMG (2016)
- 36. US$360MM invested by VCs in 2015 but still largest in Latam* Few exit opportunities: early M&As are the norm Small but growing:
- 37. Source: LAVCA Latin America Venture Capital (2016)
- 38. Phase 3: maturity (2015-?) Mature VC (Venture Capital) industry Density Risks
- 39. The crisis can always get worse before it gets better
- 40. The crisis can always get worse before it gets better Huge bureaucracy: #123 in Doing Business ranking
- 41. PART 3: Opportunities in Brazil and Latam
- 42. PART 3: Opportunities in Brazil and Latam
- 43. Brazil is an island in Latam Closed economy
- 44. Brazil is an island in Latam Closed economy Buy now, buy cheap 88% of international investors intend to allocate more funds into Brazil and recovering economy
- 45. Brazil is an island in Latam Closed economy Buy now, buy cheap 88% of international investors intend to allocate more funds into Brazil and recovering economy Focus on verticals where it’s already relevant Agribusiness Fintech Education
- 46. Brazil is an island in Latam Closed economy Buy now, buy cheap 88% of international investors intend to allocate more funds into Brazil and recovering economy Focus on verticals where it’s already relevant Agribusiness Fintech Education Bridge the gaps in venture capital Seed and growth funds missing
- 47. PART 3: Opportunities in Brazil and Latam
- 48. https://www.dropbox.com/s/ov4eosjp8284hm i/Screenshot%202017-03- 10%2001.05.29.png?dl=0 Source: OECD: Start-up Latin America (2016)
- 49. Source: Crunchbase Global Investment Report (2016) 2011-15 Latam Venture Investments
- 50. Mature 2011-15 Latam Venture Investments Source: Crunchbase Global Investment Report (2016)
- 51. Top 5 Latam ecosystems Argentina: strong business tradition, driven by MercadoLibre, also in a recovering moment.
- 52. Argentina: strong business tradition, driven by MercadoLibre, also in a recovering moment. Brazil: recovering economy, strongest ecosystem and VC industry. Top 5 Latam ecosystems
- 53. Argentina: strong business tradition, driven by MercadoLibre, also in a recovering moment. Brazil: recovering economy, strongest ecosystem and VC industry. Chile: international positioning (Startup Chile), open and easy to do business. Top 5 Latam ecosystems
- 54. Argentina: strong business tradition, driven by MercadoLibre, also in a recovering moment. Brazil: recovering economy, strongest ecosystem and VC industry. Chile: international positioning (Startup Chile), open and easy to do business. Colombia: thorough government support, in a good moment, lack of VC activity. Top 5 Latam ecosystems
- 55. Argentina: strong business tradition, driven by MercadoLibre, also in a recovering moment. Brazil: recovering economy, strongest ecosystem and VC industry. Chile: international positioning (Startup Chile), open and easy to do business. Colombia: thorough government support, in a good moment, lack of VC activity. Mexico: strong ecosystem and culture, connection to the United States. Top 5 Latam ecosystems