WHAT IS 100K?
The ITBA, with the support of the MIT Sloan Latin America Office, launches the 2020 edition of the 100K LATAM competition with the aim of promoting the development of enterprises in Latin America and the Caribbean.
The competition seeks to encourage startups with the capacity to generate impact in the region through innovative, preferably, technological and/or registered projects in the knowledge economy. In this way, it is expected to provide a contribution to economic, social and/or environmental development in countries in the region.
The contest awards more than $100,000 in prize money.
The contest has three distinct categories depending on the maturity of the idea: Pitch, Accelerate and Launch. The projects are evaluated by a jury of industry specialists, related to the entrepreneurial ecosystem, academics and entrepreneurs.
PITCH: Get your idea in 3 minutes!
This category seeks to support ideas or projects in the initial stage of development. Participants must send a pitch in video format of up to 3 minutes. 5 finalist projects will be selected which will compete in the final for U$S 5,000. The rest of the finalist projects will get U$S 1,000 each. In the last instance the teams must present their pitch in front of the jury of experts.
*To apply to this category the enterprises must not have accepted financing for more than U$S 50,000, they cannot have invoiced more than U$S 25,000 and, if the company is constituted, must credit an age of less than 6 months, that is, it must have been constituted after 31/1/2020.
ACCELERATE: Get your startup and present your prototype!
Thought to accelerate the introduction to the project market in the development phase. Participants must present a pitch of up to 3 minutes, a minimum viable product and a business model. A jury of industry experts will select 5 finalists who will compete in the final for U$S 20,000. The rest of the finalists projects will get U$S 2,000 each. In the grand final, teams must present their pitch in front of a panel of experts.
*To apply to this category the enterprises must not have accepted financing for more than U$S 150,000, they cannot have invoiced more than U$S 100,000 and to be constituted the company must credit an age of less than 12 months, that is, must have been constituted after 31/7/2019. Learn more about the PITCH category and the LAUNCH category Ver BASES of the competition here
LAUNCH: Present your business plan!
You are looking to support the launch of projects with a higher degree of development. Participants must present a pitch of up to 3 minutes, a minimum viable product and a business plan. The top 5 projects will reach the final instance, where they will present a 3-minute pitch in front of the expert panel. The winning project of this instance will access an award from U$S 55,000 and the remaining 4 finalists to a prize of $5,000 each. Finalist projects will be able to request a return from the jury.
To apply to this category the enterprises must not have accepted financing for more than U$S 400,000, they cannot have invoiced more than U$S 200,000 and the company must accredit more than one year of development, that is, must have been constituted before 1/8/2019.
|Program dates||Aug 3 - Oct 31, 2020|
|Organizer||ITBA – Instituto Tecnológico de Buenos Aires|
Antigua and Barbuda, Argentina, Bahamas, Barbados, Belize, Bolivia, Brazil, Chile, Colombia, Costa Rica, Cuba, Dominica, Dominican Republic, Ecuador, El Salvador, Grenada, Guatemala, Guyana, Haiti, Honduras, Jamaica, Mexico, Nicaragua, Panama, Paraguay, Peru, Saint Kitts and Nevis, Saint Lucia, Saint Vincent and the Grenadines, Suriname, Trinidad and Tobago, Uruguay, Venezuela