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Contxto – If you’re a startup or scale-up in the fintech, cybersecurity, connectivity, logistics or mobility sectors, then listen up. There’s a new opportunity for growth with Plug-in Mexico, a joint initiative aiming to develop the nation’s entrepreneurial ecosystem.
This past Tuesday, Contxto CEO and co-founder Victor Cortes attended a brunch event to learn more about Plug-in Mexico 2019.
During this time, he informed me that behind this new effort are a variety of global corporations. These include Arca Continental, BBVA, ENGIE, Mercado Libre, as well as Telefónica Movistar as part of Wayra Mexico.
With a variety of strategic partnerships, Plug-In Mexico intends to provide financial support, mentoring and acceleration opportunities to startups improving UX via technology throughout Mexico and Latin America.
Moreover, the coalition is now officially ready to start receiving startup proposals. Not only are they open to potentially investing in some of these firms but to establish mutually beneficial commercial partnerships.
Candidates have until October 10 to apply over the website. Lucky participants will be announced on October 31 at the Torre BBVA auditorium in Mexico City.
Collectively, partners are seeking to work with entrepreneurs with the best ideas to enhance their brands. At the same time, they aspire to better serve over 250 million combined customers throughout the region.
“The program aims to find and support solutions that target better user and customer experience of new technologies in Mexico and the region,” said Agustina Palmai, leader of Corporate Development in Mexico at Mercado Libre.
Ultimately, partners believe that combining the experiences, not to mention talent, from multiple industries will yield comprehensive results. This is especially the case regarding users’ needs and expectations.
For Gabriel Cortina at Wayra Mexico as part of Telefónica Movistar, his goal is to incorporate new partners. This way, they can deliver more valuable digital solutions to customers.
“We know that in just a couple of years, we will have on average four devices connected per person,” said Cortina. “Also, the role of technologies such as the Internet of Things, Artificial Intelligence and Big Data will be fundamental for the future, the joint look with the other corporate allows us to add new solutions.”
Based on this, Telefónica Movistar will be better equipped to implement faster Wi-Fi networks. All of the sponsors believe in technology’s potential for transformation, both for society and businesses.
“The use of new technology plays a crucial role in building competitive advantages for companies,” said Jesús García, Executive Director of VC at Arca. “But mainly in developing closer relationships with customers and consumers, to serve them better and anticipate their needs…”
According to Victor, this is going to be hugely impactful. As we know it in the current landscape, success has mostly entailed raising tons of capital and getting press about it. How ironic.
However, others embody the definition of modern startup success with traction, revenue and steadfast missions. Whether you realize it or not, startups that have clients and sustainable business models are the true winners here.