Google unveils the impact of its acceleration programs for startups in Latin America

Google’s acceleration programs are an integral part of the company’s commitment to fostering the growth of new businesses in Latin America.
Google startups LATAM
Image: Google

Google has unveiled its “Accelerator Impact Report”, a detailed report shedding light on the significant impact that the company’s acceleration programs have had on the entrepreneurial ecosystem in Latin America and globally. This inaugural report spans from early 2016 to July 2023, revealing astonishing data about the reach and effectiveness of these initiatives that have left an invaluable mark on over 1,000 startups and developers in 87 countries.

Currently, Google has 24 acceleration programs distributed worldwide, with participants whose acquired knowledge is valued at an astonishing figure of over $121 billion. One of the most notable data points is the strong presence of Latin America in these programs, with a total of 283 startups and developers, representing 25% of the global total.

Francisco Solsona, the regional leader of Google for Developers in Latin America, expressed pride in the fundamental role that Latin American startups have played in these programs since their inception in 2016. Google’s commitment has evolved over the years, starting with national and regional programs in Brazil and gradually expanding throughout the region.

“Latin American startups have been part of Google’s acceleration programs since the first Google office in Mountain View, California, in 2016. We started with national and regional programs in 2018, first in Brazil, followed by Mexico, and the rest of the region. We are proud of all the companies that trusted us over the years and started our programs to connect with the best of Google: our people, technology, and global network of mentors and allies,” stated Francisco Solsona, Google for Developers Regional & Accelerator Lead – SpLATAM.

The landscape in LatAm and gender inclusion

Latin American startups, driving innovation in the region, have experienced significant growth thanks to their participation in Google’s acceleration programs. According to the report, these companies already employ more than 50,000 people and have raised over $13 billion. Notably, 10 of these startups have achieved unicorn status, with five of Hispanic origin and five from Brazil.

A notable achievement highlighted in the report is Google focus on gender inclusion, with 36.96% of female founders in the history of programs in Hispanoamerica. In 2022, 47.62% of startups had a female co-founder, and this percentage has increased to 60% in 2023. Additionally, the gender diversity index of mentors in these programs is 58%.

Regarding the prominent industries participating in Google’s acceleration programs in the region, finance leads with 22% of the total, followed by e-commerce, professional services, games, education, and health, among others.

The report highlights success stories to support its commitment and transparency, such as the Argentine company “Oliver Pets.” Thanks to Google’s programs and personalized mentorships, co-founder Gonzalo Sisack Novillo developed a personalized and innovative experience for pet product purchases. Today, Oliver Pets is the leading platform in sales in its field, with over 100,000 consumers and a significant 60% growth throughout Latin America, along with a monthly growth of 20%.

On a global scale, the results are no less impressive. Since 2016, over a thousand startups and developers have enrolled in Google’s programs, spanning industries primarily related to finance, health/biotechnology, e-commerce, games, education, logistics, among others. Surprisingly, 36% of these businesses are founded by women.

Over these six years, participating entrepreneurs have raised over $300 billion, turning 20 of them into unicorns and one into a decacorn. These companies now employ over 115,000 people worldwide and have a survival rate of 96%, surpassing the global trend in this sector.

Google’s acceleration programs are an integral part of the company’s commitment to fostering the growth of new businesses in the digital world. Originating from the experience of Google Developers called Launchpad in 2016, these programs have evolved to offer technical training and mentorship access for the Latin American entrepreneurial market.

Since the first edition of Accelerator for the Spanish-speaking community in 2019, the initiative has focused on supporting growing startups, providing them with customized workshops in product, technology, and leadership, conducted by Google experts. Additionally, they create networking spaces between talents and investors, opening doors to new opportunities for growth and development on a large scale.

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