Investing in Peruvian Startups

Luis Torres Mariscal Altra Investments, Mentor Capitalist

Background
Altra Investments, Mentor Capitalist (2 yrs) Microsoft Corporation (10 yrs) Business Consulting & Technology Services (6 yrs) LC&F Systems Development (2 yrs) UNMSM, Doctorate Honoris Causa Harvard University, MBA Universidad de Lima, BSc in Systems Engineering

Global Competiveness Index

Peru remains stable at 61 place following a strongly positive trend that led the country up in the rankings more than 20 places in recent years. The results suggest a consolidation of the competitiveness profile of the country and a certain exhaustion of the sources of competitiveness gains of the past years. In addition, poor educational quality (134) has generated a deep skills gap in the economy. Coupled with a low capacity to innovate (106) caused by limited R&D investment (124) and a weak scientific research system (119), this hinders Perus capacity to diversify its economy and move up toward new, more knowledgerich activities.

Networked Readiness Index

Despite going up three places in the rankings to 103 place, Peru continues to lag significantly in terms of leveraging ICTs to modernize its national economy. Even with a government push to increase the number of online services and a reduction in the cost of accessing broadband Internet (107), insufficient progress in developing the national ICT infrastructure (86) has resulted in the relative stagnation of ICT uptake, notably in terms of the number of Internet users (77) and households with computers (82) or an Internet connection (83).

Networked Readiness Index

Moreover, notwithstanding its relatively pro-business environment (57), 1. weaknesses in the political and regulatory environment (121), 2. the poor quality of its educational system (132), 3. and its low capacity to innovate (103) are factors that are hampering the countrys ability to obtain greater economic impacts and allow the national economy to transition toward higher-value-added activities.

Entrepreneurial Ecosystem
People, Diversity, Values Education Human Capital Role Models Risk Tolerance Rewarded Culture Early Customers Risk Capital Working conditions Infrastructure: Hard and Soft Clustering & Networking Public Policy
Circulationof People

Circulationof Capital

Circulationof Ideas

Peruvian Entrepreneurs
People Have passion, ambition, perseverance Have no fear to fail, are willing to learn and adapt Ask good questions, know their weaknesses Opportunity Differentiate ideas vs. business opportunities Know their customers and competitors Leverage on new business models and technologies

Resources, Beyond Capital

Strategy Targeting, value proposition, monetization Management Budgeting, finance and administration, legal Networking Customer acquisition, distribution channels Talent Hiring, developing and retaining top talent Capital Seed and venture capital, government funds

Mentor Capitalist
Mentor capitalists are experienced executives and entrepreneurs that serve as hands-on advisers to startups that need help with business development, recruiting talent and raising capital. Some of them make seed investments that help keep things running while they fine tune the business model with the founders.

Peruvian Startups
$920K raised for 4 tech startups, $1M+ in 2013 E-nteractiva: cloud-based infrastructure services $250K+ in 2013, $245K raised Blitz: social media marketing platform $50K+ in 2013, $275K raised Evolta: cloud-based CRM for real estate industry $450K+ in 2013, $100K raised LaEncontre.com: online real estate portal $250K+ in 2013, $300K raised

Our Opportunity
New generation of entrepreneurs New generation of mentors and investors Developing ecosystem of entrepreneurship and innovation Everything, without exception, is yet to be made An country full of opportunities!