Chilean Platanus Ventures launches new US$195,000 startup incubator

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Contxto – It is about time for the masters to pass on knowledge to the students. Despite the current market conditions, some’s mission to keep improving remains unchanged.

Chilean software agency, Platanus, partnered with fintechs Buda and Fintual, along with digital media, Vaso Medio Lleno to launch a new initiative for those who are just starting their journey.

Platanus Ventures, as they named it, is an incubator whose main activity is to provide mentorship, guidance and capital to early-stage startups. Later-stage founders provide some knowledge and hopefully, in the future, capital. Currently, their fund consists of US$195,000 ready to deploy.

“The backing that exists today comes mainly from Corfo’s and Start-Up Chile’s funds. We believe there’s an opportunity for this to come from startup founders to other founders. This program aims to do that, to form a network,” remarks Andrés Matte, co-founder and CEO of Platanus Ventures.

Some of Chile’s most recognized startups such as Buda and Fintual, joined the initiative. Vaso Medio Lleno, a “positive-news” publication, also participated in.

Master Tech Chile

Applications officially opened last January, and out of the 150 submissions, only three startups were selected. Gosh, not even Harvard is so picky.

Startups should be in their initial stages, but they should have a technical founder or CTO, to handle all the good tech stuff.

What startups were the chosen ones?

Fintoc, which provides banking solutions for the financial industry
Rentz, a heavy machinery rental platform
Reversso, a tracking and follow up tool for e-commerce sites.

These companies will get US$65,000 each, along with support and advice from fellow founders.

Now, we wouldn’t be writing this article without mentioning coronavirus, would we? Ah well, due to Covid-19, the program which started last week, will be completed virtually in its entirety. Technology and product development, as well as product-market fit are the main topics to cover, along with scalability and fundraising.

The six-month program will start looking for its second batch by the end of 2020. Not only that, but they also plan to increase the number of companies across different Latin American countries.

Who in their right mind would like to miss the chance to get some first-hand experience and mentor’s knowledge?