Volcano Summit 2024: Creating Opportunities for Entrepreneurs and Investment Funds
The Volcano Summit 2024, held in Antigua, Guatemala, has set a new benchmark in the region by bringing together over 1,800 attendees and 130 speakers from 30 countries.
This event, now a well-known name in the Latin American startup and innovation ecosystem, has become a pivotal space for interaction between entrepreneurs, investors, and experts in technology and social development.
The event featured participation from prominent Venture Capital funds from across the region: DILA Capital (Mexico), CAFI (Central America), Caricaco (Central America), Impacta VC (Chile), Bycicle Capital (South Africa), Monashees (Brazil), Salamandra Ventures (Colombia) among others.
The Growth of Volcano Summit
With five editions under its belt, Volcano Summit has become a key reference point in the region, drawing inspiration from global ecosystems like Silicon Valley and Israel's Startup Nation. According to Janma Bardi, CEO and founder of the event, the goal has always been to drive economic and social growth through collaboration and innovation. This edition stood out for its focus on supporting startups and entrepreneurs across Latin America through the Startup Avenue Competition, a space designed for emerging businesses to pitch their ideas and gain the exposure needed to reach new markets.
Startup Avenue Competition: Driving Entrepreneurship
One of the most anticipated moments of the event was the Startup Avenue Competition, where more than 50 startups competed for investment and visibility. In its fifth edition, nine startups were recognized for their scalability potential and their ability to address key challenges in sectors such as food, electronic payments, and logistics.
Among the winners were Flai Logistics from the Dominican Republic in the Growth and Scalability category, and Quix from Colombia in the Business Idea category. These achievements highlight the importance of Volcano Summit as a critical platform for innovation in the region, fostering connections between entrepreneurs and investment funds.
Flai Logistics: A Model of Innovation in Logistics
The case of Flai Logistics, winner of first place in the Growth and Scalability category, is a clear example of the impact that participation in these types of events can have. This logistics technology platform has grown exponentially in the region, with over 400 carriers and 4,000 monthly shipments. The recognition at Volcano Summit not only strengthens its position but also showcases the Dominican Republic's potential as a key player in the Latin American startup ecosystem.
Venture Capital Investment in Central America: Trends and Opportunities
The venture capital ecosystem in Central America has shown significant growth in recent years. A recent report by the firm Cuantico reveals that the region has received over US$266 million in venture capital investment over the past six years, with countries like Belize, Costa Rica, and El Salvador standing out. Despite challenges such as inadequate infrastructure and bureaucratic governance, the region is solidifying its status as an attractive destination for startup investment.
Among the most notable transactions in 2022 and 2023 are Dimitra's US$20 million raise, an AgriTech from Belize, and N1co, a Salvadoran fintech that secured US$19 million in its seed round. This growth in investments reflects the maturation of the startup ecosystem in the region, which continues to attract both regional and international investors.
The Future of the Startup Ecosystem in Latin America
As the venture capital ecosystem continues to expand in Central America, events like Volcano Summit play a crucial role in connecting entrepreneurs with investors and growth opportunities. The region is at a turning point, with the emergence of the first generation of startups attracting significant investment.
Experts predict that this growth will create a domino effect, encouraging more people to embark on entrepreneurial ventures and develop solutions with global impact. As José Kont, CEO of Cuantico, explains, "What we are seeing today in countries like Guatemala and El Salvador is what happened in Mexico or Chile ten years ago." The future of entrepreneurship in the region is bright, and Volcano Summit will continue to be a key catalyst in this evolution.