What is a Start-Up?

Definition and Characteristics

• A Start-Up is a newly established company with high growth potential, leveraging technology for products and services.

• Unlike conventional SMEs, Start-Ups quickly enter the market to achieve growth and funding through digital transformation.

• Key features of Start-Ups include youthfulness, scalability, technological utilization, and low operational costs.

• The rise of new technologies allows individuals without significant capital to launch their ideas via Start-Ups. Examples include Amazon and Facebook.

Innovative Mexican Start-Ups

Gruo Hotel

• Founded in 2019 by Jorge Flores, Josuelleo, and Steven Martinez in Chetumal, Quintana Roo; it addresses the lack of digitalization in independent hotels.

• Offers an e-commerce platform for independent hotels to optimize operations with tools for reservations and management data.

• Provides direct contact with larger platforms like Booking.com and Airbnb while allowing hotel owners to customize their websites through Hotel Manager options.

• Supported over 55,000 hotels across 185 countries during the pandemic, proving essential for small hotel businesses.

Kali

• A start-up that delivers fresh organic fruits and vegetables directly from producers to consumers' homes via a mobile app.

• Automates producer support by providing technology for better food production management while offering same-day delivery service to customers.

• Allows group purchasing among customers which leads to savings on purchases; producers reportedly earn three times more than usual profits through this model.

Hoyster

• Focuses on financial technology solutions aimed at freelancers and small businesses lacking banking services in Mexico's economy.

• Operates through a mobile app that provides financial control tools such as expense reports and budgets tailored for small enterprises.

• Partnered with MasterCard in 2020 to issue debit cards; aims to create a self-sustaining financial system for entrepreneurs overlooked by traditional banks.

MUNS

Innovative Startups Revolutionizing Industries

MUNS: Affordable Orthodontic Solutions

• MUNS offers orthodontic treatments at up to 65% lower costs than conventional methods, utilizing in-house 3D printing labs and specialized dental centers.

• Each aligner is custom-designed by an orthodontist for effective and safe teeth movement, currently serving over 10,000 patients in Mexico and Colombia.

BITSO: Leading Cryptocurrency Exchange

• Founded in 2014, BITSO provides an intuitive platform for currency exchange to cryptocurrency and vice versa through its app.

• It is the first regulated cryptocurrency platform in Latin America and ranks sixth globally, recognized for security as the safest exchange in the region.

• BITSO has amassed 3 million users across Argentina, Brazil, and Mexico.

Confío: Empowering Small Businesses

• Confío aims to assist small and medium enterprises (SMEs) with financing solutions since its founding in 2013 by David Arana and Francis Copa.

• The fintech utilizes data analysis from transactions to enable SMEs to secure loans within just 24 hours.

ULFBAN: Enhancing Urban Transportation Experience

• ULFBAN focuses on improving user experience rather than combating traffic issues by offering a shared private transport service with professional drivers.

• Users can customize their journey via an app that allows them to select routes and schedules while enjoying amenities like Wi-Fi.

Justo: Virtual Supermarket Innovation

• Justo stands out as Mexico's first fully virtual supermarket, providing high-quality products at competitive prices.

• The startup secured $12 million in funding aimed at expanding its operations while supporting small producers who often lack access to large supermarkets.

Clip: Transforming Payment Solutions for Small Businesses

• Clip is a rapidly growing fintech company aiming to facilitate card payments for small businesses without traditional banking barriers.

• It offers a mobile point-of-sale terminal that eliminates monthly fees or minimum transaction requirements, making it easier for businesses to accept card payments.

Kavak: Pioneering Online Car Sales

Kavak: Revolutionizing Used Car Sales

Overview of Kavak's Operations

• Kavak is a startup focused on facilitating the online buying and selling of used cars through its website and app, providing users with accessible vehicle options.

• The platform not only helps buyers find affordable vehicles but also assists sellers in connecting with potential buyers for their cars.

• Since its inception in 2016, Kavak has distinguished itself as one of the most efficient and trusted platforms for users in the used car market.

Achievements and Growth

• Kavak has emerged as a "unicorn" among Mexican startups, achieving a valuation exceeding one billion dollars after securing an investment round in September 2020.