Nestled in the heart of Argentina, the city of Buenos Aires is blossoming into a thriving hub for startups. Amidst the captivating energy of the city, a remarkable transformation is underway. This Argentine city is swiftly ascending the ranks of prominent startup ecosystems, and at the heart of this evolution is Wayra-Buenos Aires. In some part, it is driven by the unwavering support of Telefónica.
Wayra – A Catalyst for Buenos Aires’ Startup Success
The Next Great Startup Hub in South America?
Buenos Aires, Argentina is a city with a rich history and culture. Now, it is also home to a growing startup ecosystem.
One of the key drivers of Buenos Aires’ startup scene is Wayra, an accelerator program launched by Telefónica, one of the world’s largest telecommunications companies. Wayra Buenos Aires has helped over 100 startups get off the ground, and many of these companies have gone on to achieve success. With a mission to foster startup growth, bridge corporate expertise with entrepreneurs, amplify startups on global stage and reshape Buenos Aires into a thriving innovation hub, Wayra is a driving force of change.
Another important factor in Buenos Aires’ startup ecosystem is the presence of a number of universities and research institutes. These institutions provide a steady stream of tech talent to the city, and they also conduct cutting edge research that is accessible to startups. The government of Buenos Aires is also very supportive of the startup ecosystem and provides several tax breaks and other incentives to startups.
As a result of these factors, Buenos Aires is attracting a growing number of startups. In recent years, the city has seen a surge in investment in startups, and a number of successful startups have been founded in Buenos Aires.
Global Presence, Local Foothold
Wayra’s impact extends beyond borders. Its affiliation with Telefónica’s resources empowers it to fuel innovation on a global scale. Their global network serves as a potent asset for startups. Accepted startups find themselves woven into an international community that opens doors to investors, partners, and clients that may otherwise remain out of reach.
Success Stories
Mural: Mural is a startup that provides a platform for businesses to create and manage their online presence. It was founded in 2017 and has since raised over $100 million in funding. The company is now used by over 1 Million businesses around the world. Mural benefited from Wayra Buenos Aires by receiving mentorship from experienced entrepreneurs, access to a network of investors, and the opportunity to participate in workshops and events.
For example, Mural’s founders met with Wayra Buenos Aires’ mentors to discuss their business model and get feedback on their product. They also attended workshops on topics such as fundraising and marketing. One of the mentors that Mural’s founders met with was a former executive at a large tech company. This mentor helped the founders to understand the challenges and opportunities of the enterprise market. This information was valuable to Mural as the company was looking to expand into the enterprise market.
Mural also benefited from participating in a workshop on fundraising. This workshop gave the founders the opportunity to learn about different ways to raise money for their startup. The founders also received feedback on their pitch deck from other entrepreneurs who had gone through the fundraising process.
Finally, Mural was able to use Wayra Buenos Aires’ office space and facilities. This gave Mural a professional space to work from and access to resources such as meeting rooms and computers.
Auth0: Auth0 is a startup that provides a secure authentication platform for businesses. Auth0 was founded in 2013 and has raised over $400 million in funding before getting acquired by Okta for US$6.5 Billion. The company is now used by over 70,000 businesses, including Airbnb, Spotify, and Slack. Auth0 benefited from Wayra Buenos Aires by receiving $100,000 in funding during initial days besides mentorship from experienced entrepreneurs, and access to a network of investors.
Auth0’s founders used the funding to hire more engineers and develop new features. They also received mentorship from Wayra Buenos Aires’ mentors on topics such as sales and marketing. They also were able to access a network of investors through Wayra Buenos Aires, which helped them to raise an additional $300 million in funding from other investors.
The Wayra Effect
The resounding impact of Wayra is manifested through the tales of startup triumphs it incubates. With its nurturing embrace, Buenos Aires emerges as a Latin American startuphub and a promising contender to seize the mantle of Latin America’s next great startup hub. With a powerful combination of local talent, government encouragement, and burgeoning investor enthusiasm, Wayra’s unwavering presence further cements the city’s prospects. As Wayra elevates Buenos Aires’ entrepreneurial dreams, the city propels into the future with renewed energy, poised to attract a burgeoning wave of startups in the years ahead.
A Voice of Success
““Wayra was one of the first to believe in our dream and that sometimes makes all the difference since, as the experts say, you only need someone to believe in you so that you can fly. Wayra gave us space, mentoring and money so that Datagran could take off and we will always be grateful for that.”
Carlos Mendez, Co-founder & CEO of datagran.io
