Dear Community,
As we approach our PY2 Offline Week and Demo Day, I am filled with pride and excitement as I reflect on the journey we have taken so far. Our goal was simple yet profound: to identify and support the most promising startups from LatAm with the potential to make a real, transformative impact on the world. And I am proud to say that this new generation of Pygmalions has exceeded our expectations in every way.
We've prepared a week full of activities and moments to share together with our founders, startups and all national and international stakeholders who will come from different place to be together in one place to contribute to our LatAm's startup ecosystem. We will have mentors which will coach our startups in different aspects from fundraising to lead generation, soft-landing day where relevant key players from Colombia and Bogota will guide them through landing in our country, networking and bonding time, a happy hour event together with AWS, Camara de Comercio de Bogota, Invest in Bogota and Kapital, and much more.
On February 23rd, we will have a special date: Pygma's Demo Day, we will introduce some of the most daring and innovative startups from the second batch (PY2) of our accelerator program. These startups cover a wide range of industries, including logistics, foodtech, fintech, influencer marketing, and autotech. We are confident that they will soon become the leading players in their respective fields.
We are thrilled to share with you the inspiring fundraising stories of our Pygmalions, and give you a behind-the-scenes look at their growth through our acceleration program. These startups have already achieved great success, and we can't wait to share their stories with you.
From Sabroso, a data-driven meal management SaaS for restaurants and caterers, to Tiui, a cash-on-delivery logistics solution for e-commerce, and Tranqi, a fully digital car ownership transfer solution, these startups represent the best of Latin American innovation. And the list doesn't stop there. Be sure to check out Nido, a hassle-free expenses and split payments solution, and AptoClick, a platform that enables the quick and easy sale of distressed property.
In addition to the startups presenting on Demo Day, we are also excited to introduce you to a few more of our upcoming stars, including Kaudal, a no-code platform empowering employees to become digitally autonomous, and Qubik, a cost-effective transportation solution.
It has been a rewarding journey to witness the growth and evolution of each startup in our acceleration program over the past few months. We are proud to report that 70% of them secured angel investor funding prior to Demo Day, with amounts ranging from $25,000 to $300,000 and an average dilution rate of no more than 4%. Furthermore, our founders have attracted the attention of renowned programs such as Techstars Miami and Tel Aviv, Startup Chile, Endeavor, Alchemist, and Antler.
At Pygma, we believe in the "founder first" approach. This is reflected in our acceleration program agreement, which includes a 1% dilution instead of a "cash in-hand". This ensures that the founders maintain a significant long-term stake in the company. We are an accelerator, not a fellowship, and this is a crucial distinction. We have a vested interest in our founders' success and actively support them in building better products, growing their business, and accessing capital. We provide more than just speakers and perks. Our goal is to be a true partner in their journey and provide the resources they need to achieve their dreams.
As we prepare for our PY2 Offline Week & Demo Day, I want to remind all aspiring entrepreneurs that starting a company is never easy, but it is one of the most rewarding things you can do. If you have a great idea and a passion for making a difference, don't let anything stand in your way. Surround yourself with supportive people, work hard, and never give up on your dream. The journey may be difficult, but the reward is well worth it.
So, let's embrace this moment and get ready to change the world together!
Register today to our PY2 Demo Day and get to know more about these amazing startups that are the future of our region. Secure your spot today.
Sincerely,
Andrés Cano
Pygma's CEO
