Freddy Vega

Freddy Vega is the co-founder of Platzi. Platzi raised $60M+ as an edtech focused on LATAM. I interviewed Freddy for the Realistic Optimist. Some topics we covered: (i) Edtech in LATAM, and why a focus on higher education is needed (ii) Platzi's pricing model & tacit student commitment (iii) Expansion into Brazil as a Colombian startup (iv) What LATAM should and shouldn't take from Silicon Valley (v) How LATAM is well positioned in light of Sino-American tensions (or competition, as you wish). https://lnkd.in/gN57WUAJ

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Last week I had the opportunity to join the first VC and Startup Summit in Paraguay, organized by Parcapy. It was a very energetic community of entrepreneurs and investors that wants to grow the ecosystem. I talked about the elements of successful ecosystems and gave a few recommendations on how to strengthen the current one in Paraguay. I few years ago I wrote a paper on Latin American Startup Ecosystems where we created a kind of model. You can see the details in the attached file: https://lnkd.in/ev2HZa6y These are the elements of a startup ecosystem: 1.    Transversal Enabling Factors a.    Culture •       Entrepreneurial potential •       Perception of entrepreneurs •       Risk and failure tolerance b.    Enabling environment •       Regulatory environment that facilitates businesses •       Policies that foster innovation •       Technological infrastructure 2.    Demand Enabling Factors a.    Demand sectors •       Variety of industries and businesses •       Existence of Industrial clusters •       Public procurement •       Banking penetration level b.    Economic assets •       GDP size and growth. •       Investment in R&D. •       Universities and research centers 3.    Supply Enabling Factors a.    External networking •       Attracting startups. •       Attracting talent. •       Entrepreneurship global reach b.    Internal networking •       Relations with the private sector. •       Mentors network •       Incubators and accelerators c.     Financing       •       Debt availability •       Venture Capital availability. •       Angel Investors Networks d.    Human capital •       Talent availability and mobility. •       Women’s participation. •       Quality of human resource. •       Cost of human resource. •       Languages - Bilingualism 4.    Performance •       Number of companies. •       Exit value •       Startup value

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🌟 Applications for the 6th Edition of Mana Tech's Miami Immersion Program are NOW OPEN! 🌟 Are you a tech entrepreneur looking to expand your startup to the US market? We're seeking 16 visionary founders from around the globe to join our renowned program. 🇺🇸 Join the ranks of 255 startups from 22 countries 🌍 that have already taken the leap with us! Our hybrid program offers four virtual weeks and six immersive days in Miami, tackling all your expansion needs: ⚡ MARKET: Evaluate your product's fit and potential in the US market.  🧑🏽‍💻 FEEDBACK: Refine your sales and investor pitch with insights from top mentors and industry experts.  🌐 NETWORK: Engage with the vibrant Miami tech community and build valuable connections.  📣 STEP FORWARD: Showcase your startup to investors and partners at our final Demo Day. Wondering if your tech startup is ready for the US market? Now’s your chance to find out! 🔗 Learn more and apply now 👉🏼 https://bit.ly/3RM0n25 Don't miss this opportunity to supercharge your startup’s growth! 🚀 #ManaTech #MiamiImmersionProgram #InternationalEntrepreneurs #StartupGrowth #USMarketExpansion

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I've been working for 7 years now with International Startups trying to either go to market in the US or get investment here. And it was through this journey that I discovered the incredible power of community. Mentors, colleagues, and other players in the ecosystem became my lifeline. They shared their knowledge, connections, and – most importantly – their hard-won lessons. They saved the startups we work with from countless missteps and helped them navigate the complexities of the US market. This journey of learning and support is what inspired the Miami Immersion Program. It's a program built by founders, for founders. We want to empower international startups to avoid mistakes and get a head start on success. Imagine having a roadmap for the US market, complete with the playbooks and insider tips you need to hit the ground running. Imagine being introduced to the key players in Miami's thriving startup scene – the people who can truly make a difference in your journey. That's exactly what the Miami Immersion Program offers. We're also lucky to be partnered with amazing local government leaders who are passionate about supporting international startups. People like Erick Gavin from Venture Miami, James Kohnstamm, CEcD from the Miami-Dade Innovation Authority,and Michaeljohn Green from the Miami DDA, who even launched a $25,000 relocation grant program! This is just a glimpse into the Miami Immersion Program community. Stay tuned to meet the other incredible people who make this program truly special. If you're an international founder with a US dream, this program is for you. It's not just about saving you time and money,it's about giving you the support and guidance you need to thrive. Let's connect and build something amazing together.

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The current staff augmentation model is broken. Why? “Show me the incentives, and I’ll show you the outcome.” From the great Charlie Munger, RIP. A software development agency might charge a company $10k for an engineer, but pay the engineer $3k since they’re in LatAm. Which means…the agency/Staff Aug is earning 2.4x what the developer is making. Why is it happening? Talent is the hardest resource to find. Companies are willing to pay for great talent. And right now, near shore agencies are pocketing the difference. Is that fair? We don’t think so. This is why we switched to a transparent cost-plus pricing model. Developer comp is negotiated between the dev and the company, and we take a flat fee. Yes, we make less money. But now, incentives are correctly aligned.

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📢 🔊 As many know, I had the incredible duty of strategizing and structuring Colombia Tech Week investors' agenda. 🚨 To access CTW Investors CRM Cheat Sheet developed by Catalina Mendez and Eduardo Pacheco click on the link 🚨 The core objective 🎯 was to include the full waterfall of capital while creating a three-way conversation between investors, founders & GPs. 👍 Inviting LPs who are already investing or eager to invest in GPs is the fountain that nourishes the capital cascade. 🥈 Including structured and venture debt professionals was crucial for supporting growth-stage lending and revenue-stable companies. Don't miss Kai Schmitz, Leila F. Search, Gordon Watson, Marcos Kantt, Felipe Gomez Herrera panel on the 29th at 12:15 pm at the #GoFest. 🥉 Bringing in alternative assets' professional investors with decades of experience was key to closing the virtuous cycle we aim to feed during the week. Two key growth and full-cycle investment panels are led by Riverwood Capital and SoftBank Investment Advisers. ⏳ Federico Storani is moderating the conversation about exponential growth in the region based on his +10 years of experience as an investor, accompanied by Oscar Ramos, Julián Melo, and Santiago Covelli. Book yourself the the 28th at 11:15 am. 🏔 Rodrigo Costa is leading a candid conversation about investing in a capital constraint market on Thursday the 29th of August at 10 am the #GoFest. What I love about this one is that he'd be the only investor, the other chairs are going to be filled by Camilo Sánchez, Sebastian Noguera Escallon, and last but not least Fabián Gómez Gutiérrez (Fancho). This is a unique chance to connect with leading investors from nearly every corner of the globe—from Cape Columbia in the northwest of Canada to Cape Froward in the southernmost tip of Latin America—who are eager to discover and back alternative investments. Special thanks to all the teams that made this happen: ColCapital - Asociación Colombiana de Capital Privado, Endeavor, Endeavor Catalyst, Invest in Bogota , Cámara de Comercio de Bogotá, Cámara de Comercio de Cali, and Colombia Fintech. Kudos to the Colombia Tech Week team for all the legwork and dedication. #ColombiaTechWeek #VentureCapital #Startups #Innovation #LATAM

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🚀 Deep Tech in Latin America and the Caribbean (LAC): a model for global success 🌎 I recently read the report "Deep Tech: The New Wave" by Banco Interamericano de Desarrollo and found some fascinating insights about how startups in LAC are paving the way for success. 💡 Key elements of the emerging business model for deep tech startups in LAC include: • Global market strategy 🌍 LAC startups are focusing on international markets from the outset, aiming to scale beyond regional boundaries. This global approach allows them to tap into larger customer bases and attract global investors. • Impact-driven mentality, with an early drive to market ⚡ These startups are not only about technological innovation; they are mission-driven, aiming to solve significant global challenges. This impact-oriented approach is paired with a sense of urgency to bring products to market quickly. • R&D in LAC for talent cost arbitrage 🧠 By conducting research and development in LAC, these startups benefit from a pool of highly skilled talent at a lower cost compared to other regions. This strategic choice enhances their competitiveness on a global scale. • Founders living abroad or traveling to be close to clients and large investors 🌐 Many founders are either based abroad or frequently travel to key markets. This proximity to clients and investors helps them stay attuned to global trends and build stronger business relationships. • IP protection in global markets 🔒 To safeguard their innovations, LAC startups are prioritizing intellectual property protection in major global markets. This strategy not only secures their technology but also enhances their valuation and attractiveness to investors. • Holding company in a safe legal jurisdiction 🛡️ Establishing a holding company in a stable legal environment ensures better access to international funding, legal protections, and business continuity. This structure is critical for mitigating risks associated with operating in volatile markets This approach mirrors the success seen in Israel’s “Startup Nation” model. While there’s still room for growth, the current strategy is a powerful formula for driving innovation and scaling globally! Read the complete article: https://lnkd.in/dtKnrBhi Let’s make the #biorevolution together! 🌱⚗️

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With a fresh $15.5 million Series A #funding round, Félix Pago is set to expand its presence across Latin America and the U.S. Using #WhatsApp as the main interface, Félix Pago's chatbot allows for seamless cross-border #transfers, even through voice messages. Recognizing that WhatsApp is the primary communication tool in the region, CEO Manuel Godoy emphasizes its convenience: “WhatsApp is the operating system of the region.” Understanding that many recipients prefer cash, Félix Pago has partnered with local stores in Mexico, Guatemala, and Honduras for easy cash pickups. Leveraging #USDC stablecoin, Félix Pago offers low fees and fast transactions, making it a competitive alternative to traditional SWIFT transfers. Collaborations with Mercado Libre and Nubank have been crucial for growth, contributing to a 30% month-over-month increase in users. The primary users in the U.S. are #Latino professionals in construction, food, and home services, making Félix Pago a vital #financial tool for this community. Félix Pago aims to be more than just a #remittance service. Plans include credit-building products and further expansion into El Salvador, Nicaragua, the Dominican Republic, and Colombia. Félix Pago is not just simplifying #remittances but is also poised to become a trusted financial companion for Latino #immigrants in the U.S. #fintech #LatAm https://lnkd.in/dn3iB-GP

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Prometeo OpenBanking, a B2B Fintech providing digital infrastructure to digitize and automate cash transactions across Latin America, is led by co-CEOs, Ximena Aleman and Rodrigo Tumaián. These two are visionary founders attacking a $10B market opportunity that’s growing fast. At Angel Squad, we love founders who want to fundamentally change consumer behaviors and markets through their innovative technology. For Prometeo, this means “unblocking” the flow of money across Latin America, which can lead to explosive growth across small businesses, consumer purchasing activities, and capital markets. Sometimes it’s hard to understand a founder’s vision when they have big, hairy, audacious goals. Ximena and Rodrigo are uniquely skilled in communicating their vision for a better future, making it easier to bet on them and their team.

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Today we celebrate 1 million digitized sellers in Construex. This is not just a number, it’s setting the foundation for our vision to revitalize the construction industry in emerging markets. Construction is a $1,5 trillion dollar industry in Latin America, it represents up to 14% of the region’s GDP, and for the past 18 months, at Construex we have been focused on digitizing it. Our market is the most attractive industry in one of the world’s most attractive regions. Thanks to our team, partners and advisors for walking this path with us. #construex #construction #latam #latinamerica #marketplace #digitization #1million

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🌟 Applications for the 6th Edition of Mana Tech 's Miami Immersion Program are NOW OPEN! 🌟 Are you a tech entrepreneur looking to expand your startup to the US market? We're seeking 16 visionary founders from around the globe to join our renowned program. 🇺🇸 Join the ranks of 255 startups from 22 countries 🌍 that have already taken the leap with us! Our hybrid program offers four virtual weeks and six immersive days in Miami, tackling all your expansion needs: ⚡ MARKET: Evaluate your product's fit and potential in the US market.  🧑🏽‍💻 FEEDBACK: Refine your sales and investor pitch with insights from top mentors and industry experts.  🌐 NETWORK: Engage with the vibrant Miami tech community and build valuable connections.  📣 STEP FORWARD: Showcase your startup to investors and partners at our final Demo Day. Wondering if your tech startup is ready for the US market? Now’s your chance to find out! 🔗 Learn more and apply now 👉🏼 https://bit.ly/3RM0n25 Don't miss this opportunity to supercharge your startup’s growth! 🚀 #ManaTech #MiamiImmersionProgram #InternationalEntrepreneurs #StartupGrowth #USMarketExpansion

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For LATAM founders, a Brazil expansion can be a jackpot. Or the opposite. Here's how Freddy Vega, co-founder of Platzi, puts it: " For a Spanish-speaking LATAM startup, expanding to Brazil is akin to expanding to Turkey. It is an entirely new ballgame.   Brazil’s place in LATAM is particular. It is the region’s undeniable economic and demographic powerhouse yet it is cut off from it. Brazilians speak Portuguese and rarely learn Spanish. LATAM countries teach Spanish but not Portuguese. Pupils on both sides seldom learn about the other’s culture and history. This has created a stark, business divide. Generally speaking, LATAM products don’t succeed in Brazil and Brazilian products don’t succeed in LATAM. Brazilians buy two types of products: American and Brazilian. The rare LATAM companies blessed with Brazilian success often hold two common traits: their founders relocated to Brazil and they made their products feel Brazilian.   An example of the latter is MercadoLibre (LATAM’s Amazon, in short). Founded in Argentina and listed on the NASDAQ (ticker: MELI), MercadoLibre’s largest market is now Brazil. Its prowess is how it molded its product to Brazilian taste buds. In Brazil, MercadoLibre is called MercadoLivre. This one letter change “Lusophonizes” the company’s name, making it sound Brazilian. I bet that most Brazilian MercadoLibre customers think that the company is Brazilian. MercadoLibre has also been excellent at adapting its ad copywriting to Brazilians and incorporating relevant, localized payment methods. Platzi tried a Brazil expansion but failed. We have since pulled back. Platzi could win the Brazilian market, but that would imply a full focus on it. It would mean I would have to move there. While potentially exciting, it’s not a sacrifice we’re willing to make.  "

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What startups can learn from Notion about scaling global communities. I spent two years leading community for a global automation SaaS. The first thing I did? Look for role models to inspire our community-building strategy. At the top of that list? Notion 🎖️ During NotionFest at Colombia Tech Week, I had the chance to meet Francisco, Community Lead at Notion. Their team flew all the way from New York and Lima to Bogotá just to connect with their community—an incredible display of commitment. Here are my key takeaways from my chat with Francisco: 1️⃣ Community isn’t only behind a screen: Notion knows the value of meeting people face-to-face. Despite being a tech company, they focus on personal relationships—traveling to Bogotá and Lima to engage with their users. 2️⃣ Automation amplifies the community's efforts: The Lima team built an automation where attendees received customized Instagram Story images with their names and event details, timed to drop at exactly 6 p.m. the night before the event. It created excitement and a sense of belonging with the members. Francisco reminded me: "If there's one thing you can't automate is relationships." 3️⃣ A movement, not just a tool: Notion didn’t just build a product, they’ve built a global community movement. They engage with their audience in real, meaningful ways. It’s not about scaling users—it’s about scaling trust. Now, they’re gearing up for the Make with Notion Summit in San Francisco on October 24. If you're building a community, take a page from Notion’s playbook: prioritize human connections, even in a world that’s obsessed with automation. Francisco, besides being the most welcoming, is a proud Peruvian on a mission to help more Latinos embrace no-code tech globally. ↳ How do you balance automation with personal connection in your community strategy? #notionfest #colombiatechweek #notion

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The learning curve for startup founders never ends as we face new challenges at different stages. At Sabroso, we now face the challenge of scaling to the next level. Our challenge? Reach 1+ million daily orders. I’m thrilled to share that I am now part of LBAN/Latino Business Action Network's Business Scaling Program at Stanford University Graduate School of Business. This is a step closer for both myself and our entire team, to making the world more Sabroso. Thank you to everyone who has supported our journey so far. Stay tuned for more updates as we take Sabroso to the next level! 🌟 #Stanford #Entrepreneurship #ScalingUp #Innovation #FoodTech #Marketplace #StartupLife #Sabroso

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🌟 Applications for the 6th Edition of Mana Tech Miami Immersion Program are NOW OPEN! 🌟 Are you a tech entrepreneur looking to expand your startup to the US market? We're seeking 16 visionary founders from around the globe to join our renowned program. 🇺🇸 Join the ranks of 255 startups from 22 countries 🌍 that have already taken the leap with us! Our hybrid program offers four virtual weeks and six immersive days in Miami, tackling all your expansion needs: ⚡ MARKET: Evaluate your product's fit and potential in the US market.  🧑🏽‍💻 FEEDBACK: Refine your sales and investor pitch with insights from top mentors and industry experts.  🌐 NETWORK: Engage with the vibrant Miami tech community and build valuable connections.  📣 STEP FORWARD: Showcase your startup to investors and partners at our final Demo Day. Wondering if your tech startup is ready for the US market? Now’s your chance to find out! 🔗 Learn more and apply now 👉🏼 https://bit.ly/3RM0n25 Don't miss this opportunity to supercharge your startup’s growth! 🚀 #ManaTech #MiamiImmersionProgram #InternationalEntrepreneurs #StartupGrowth #USMarketExpansion

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At GLOCAL LATAM, we are looking for the most innovative early-stage startups in the AgriFoodTech industry to invest up to US$ 500,000 in 2024 💰 About the process: ✅ Want us to consider your business? Very easy, apply at: https://bit.ly/GGC-24 ✅ Over the course of two months, our team will be processing and analyzing the applications and contacting the founders if there are any specific questions about the business. ✅ In September, we will select 10 finalists who will have the opportunity to pitch their business at a live event hosted by GLOCAL, with a jury of key ecosystem players: Surcos and Boortmalt ✅ Even if you're not one of the 10 finalists, you might still join our Business Roundtables. Here, startups with innovative solutions can connect with industry experts to foster commercial synergies or find potential Early Adopters ✅ In October, we'll announce the startups selected for our full GLOCAL experience. Our mission is to understand your challenges and offer a tailor-made journey with mentoring, Early Adopter connections, fund introductions, and industry expert talks ✅ Finally, in December, the team will announce the startups that will be taken to the Investment Committee and potentially funded! I invite you to apply and let us get to know your business. As you can see, we offer a wide range of opportunities to add value to your startup 👉 Apply for free: https://bit.ly/GGC-24 If you know any founders who might be interested, @ them in the comments! Gerónimo Porta Bernardo Milesy GLOCAL LATAM

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🚀 Looking to buy or sell a SaaS business? Check out the latest episode of SaaS Club | The SaaS Podcast with our CEO Juan Ignacio García Braschi. Click below to watch the full episode: https://lnkd.in/euDh5zt7 #SaaS #BusinessGrowth

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If Latin America runs on WhatsApp, it’s fair to say Peru runs on Yape... Raimundo Morales is the CEO of Yape, the dominant fintech app in Peru and one of the biggest consumer fintechs in the world. For context, Yape has 16 million users in Peru, which represents 80% of the country’s total population. 65% of the country's adult population uses the app EVERY DAY. On average, they process 550+ million payments a month and are doubling in volume YoY. In this Fintech Leaders episode, we discuss: - The strategy that led them to onboard 65% of Peru’s adult population as daily active users in just eight years   - Yape was built within Credicorp (NYSE: BAP), a $14Bn company traded on the NYSE. How were they able to build a fintech disruptor within a large corporation?   - The road to building a super-app   - Why you should always set irrational goals; winning the war on cash… and a lot more! https://bit.ly/3XsISXy Special thanks to Gianfranco Ferrari, Francesca Raffo, and Milagros Cigueñas!

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