here are 2 funding opportunities for startups with products taking on coronavirus
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Contxto – Governments in Latin America are eager to find solutions to the coronavirus (Covid-19) pandemic. And so who to better pivot and innovate quickly than its nimble startups?
In Peru, the government launched its Reto InnovaCovid-19 and has amassed PEN$10 millon (about US$2.8 million) ready for exercising.
Meanwhile, the government of São Paolo has R$1 million (over US$191,000) to be distributed between 10 projects. In addition, the selected startups shall participate in a two month-long mentoring process.
- Related article: Ecosystem Pledge: What crisis VC done right looks like
Different countries, varying amounts, but both wracked by the ongoing pandemic and the need for solutions—and fast.
Innóvate Perú hustling to find solutions
The government of Peru wants solutions that can quickly be implemented whether it’s to prevent the spread of the disease, follow-up with confirmed cases and the ongoing problem, or to prevent future outbreaks.
Whether it’s through monitoring, logistics-related solutions, tools to help cope with a remote lifestyle or risk analysis, the list is quite extensive. Also note that authorities are looking for prototypes that are practically ready to go to market.
For these prototypes, the government is willing to contribute up to PEN$450,000 (around US$130,000) per project.
The deadline to apply is April 22 and the winners will be announced on April 30. (I told you they’re in a hurry.)
To get all the deets, check out this page.
São Paolo favors swift innovation
This week the government in São Paolo announced that it will be funding 10 startups with R$100,000 (about US$19,000) each to tackle Covid-19.
Likewise, authorities are interested in startups that already developed a minimum viable product (MVP) and have tested it with the intended market.
Interestingly, São Paolo wants solutions not only to face Covid-19, but that also soften the impact of the inbound/ongoing economic crisis.
The deadline to apply is April 11. The chosen startups will begin their participation in the acceleration program on April 28. You can learn more and sign up here.
- Related article: What COVID-19 will do to our startup ecosystem in Latin America
No doubt that the primary focus of nearly every country in Latam right now is to control the pandemic through innovation. Albeit, as the month progresses, we’ll be hearing of more government-funded initiatives to rally startups to stimulate the economy.
Out of the frying pan and into the oven, eh?
Related articles: Tech and startups from Peru!
-ML
