Altum Lab, the Chilean AI startup, has closed a deal with the World Seed Bank to develop a model that predicts seed germination to facilitate intelligent storage and management, opening up new opportunities in the agricultural industry.
Through Bruna, its platform specializing in advanced technological services to solve common industrial problems, the company will create a prediction that assesses the probability of seed germination while harnessing the power of artificial intelligence to drive sustainable agriculture and strengthen food security.
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In a press release, Fernando Schmidt, Commercial Director of ProChile in Taipei, who supported Altum Lab by facilitating their entry into that market and providing strategic advice and important contacts, stated:
The arrival of Altum Lab is excellent news, as this market has a globally open innovation ecosystem that is receptive to foreign innovation, establishing itself as a key hub in East Asia, from which Chilean innovation has significant opportunities to grow and expand towards the Asia Pacific.
What does it imply for Latin American venture capital firms?
- Increased investment opportunities: The agreement between Altum Lab and the World Seed Bank may imply greater investment opportunities for Latin American venture capital firms. By supporting a Chilean AI startup with an innovative focus on the agricultural industry, it opens the door to potential investments in similar projects that can generate significant returns.
- Boost to the entrepreneurship ecosystem: The closing of this agreement highlights the ability of Latin American startups to develop advanced technological solutions in strategic sectors such as agriculture. This strengthens the entrepreneurship ecosystem in the region by demonstrating the capacity to generate innovation and create disruptive business opportunities.
- Attraction of foreign investors: The collaboration between Altum Lab and the World Seed Bank can generate interest and attract foreign investors to the Latin American venture capital ecosystem. Investors may see the region’s potential to drive innovation in various sectors, resulting in a greater flow of capital and support for startups in the region.
What does it imply for Latin American startups?
- Access to resources and support: The agreement between Altum Lab and the World Seed Bank provides Latin American startups with access to additional resources and support. This can include financing, strategic advice, connections with key industry players, and collaboration opportunities. These resources can help startups accelerate their growth, develop their products, and expand into new markets.
- Validation and visibility: The endorsement of a renowned entity like the World Seed Bank validates the quality and potential of Latin American startups. This can increase their visibility both nationally and internationally, attracting the attention of investors, customers, and strategic partners. External validation can be a key factor for the success and growth of startups.
- Boost to innovation in strategic sectors: By focusing on the development of AI models for agriculture, the agreement between Altum Lab and the World Seed Bank drives innovation in a strategic sector for the Latin American region. This creates opportunities for other Latin American startups to get involved in the digital transformation of agriculture, which can have a positive impact on agricultural productivity and food security in the region.
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