21 Jan DATAGRAN – CARLOS MENDEZ
Datagran is an artificial intelligence suite for digital marketing strategy. It centralizes sales and marketing data and manages it across digital channels to help companies improve decision-making, accelerate marketing strategies and boost sales.
Data Gran’s CEO Carlos Mendez shares what means being an entrepreneur in LATAM and crossing the pond to be global.
- What makes LATAM a great opportunity for startups? Why LATAM and no other regions?
LATAM is evolving because its middle class is strengthening. The most humble classes are progressing and have greater credit and purchasing power. At the same time, startups realize the potential of the market and have lost the fear of betting on the region. In parallel with these factors, the entrepreneur ecosystem has matured and presents better conditions for entrepreneurs.
- What are the main challenges startups are facing when expanding to LATAM?
Many LATAM startups are already global, but LATAM lacks investors who are willing to bet on them. You realize that lack of private investment when you travel to Silicon Valley, and that it still costs a lot to enter and sell the LATAM brand. Therefore, it is essential to strengthen the presence of local and international investors in the region. We have to work on minimizing administrative barriers, taxes, processes, etc. for entrepreneurs that exist today at all levels, at the country level and at the regional level.
- Key learnings & recommendations for startups planning to expand to the LATAM market
- As an entrepreneur you have to make sure that there is a “market fit” for your product or service and that the product, even if it is for a small market, can be scaled. It is essential that the usability of the product is constant and consistent, that the product is of quality and as I said before it can be scaled.
- Look for the best talent! Hire great partners, you need a great team and support network behind us.
- Get gritty. Hard work and perseverance are the best friends of the entrepreneur, without them you are not going anywhere! If you have to pitch your project to 200 potential investors, do it. Do not settle for seeing 15 or 20!
- Test your product with clients that help you improve it even if it is a niche! They play a fundamental role in making our product better!