Carao Ventures is a venture capital firm that invests in high potential startups, accelerates and supports early stage projects, and contributes in the development of the regional entrepreneurship ecosystem in Central America.
Name of Accelerator: Carao Ventures
Location: San Jose, Costa Rica
Founding Partner and Managing Director: Allan Boruchowicz
Founding Partner: Adrian Garcia
Operations Lead: Luis Diego Rojas
This article is part of our Startup Accelerator Spotlight Series featuring accelerators from around the world. We hope these spotlights will assist the entrepreneur should they consider attending an accelerator program.
In two sentences or less, tell us about your accelerator and its objectives.
Carao Ventures is a venture capital firm that invests in high potential startups, accelerates and supports early stage projects, and contributes in the development of the regional entrepreneurship ecosystem in Central America. We back extraordinary entrepreneurs who combine innovation with the capability to transform industries and generate new solutions to the market.
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Why is your accelerator program unique? Please describe the benefits of participation in your program.
We create custom-made strategies for our startups. Carao Ventures is the only formal VC and accelerator in the region, providing the entrepreneurs with operative and strategic guidance, a co-working space, as well as support in business development to transform projects into companies and accelerate their growth.
What is the most difficult part of working with startups?
Due to the lack of development in the startup ecosystem in the country, it sometimes gets difficult to find the right resources for startups in certain industries.
What do you enjoy the most; what do you find most appealing about working with entrepreneurial startups?
Every day at work is exciting, never the same. In case of working with startups in Costa Rica, which is a country still developing the startup ecosystem, it’s great to know that our work can improve and develop the country’s situation at large, and also that some startups will eventually improve the lives of their customers.
Tell us about your success stories; which are the most interesting companies to have participated in your program?
We handpick every new opportunity aiming to only include high-potential startups. To date, we have led investment rounds for 6 companies which are continually growing, and several have received funding from other sources as well.
Our startups are led by exceptional entrepreneurs that ensemble capable and motivated work teams. Here are a few companies from our portfolio and a brief description of their offerings:
- Bildtek – Specialized construction system of light-gauge steel structure solutions to help build commercial and residential projects.
- slidebean – Cloud-based software solution that enables the user to create visually appealing presentation slides.
- Singularities – Artificial Intelligence platform to create models of customer’s beliefs, opinions and behaviors based on “Big Data”.
- junar – Cloud-based open data platform that transforms government data into readable, searchable, and usable insight in a fast, easy and affordable way.
What are the three most important factors startup entrepreneurs should consider when contemplating attending an accelerator?
- They must be sure of what should be expected upon joining an accelerator.
- They should fully understand the next steps.
- Determine what the real benefits are which may be offered to their company.
What else would you like to share?
It is exciting to work in a startup ecosystem that is still developing; there are always new problems to solve in creative ways.
Carao Ventures was founded in 2012 in San Jose, Costa Rica. We have reviewed 2,000+ applications and have developed partnerships with 11 startups in software, fintech, biotechnology, education, and other industries. We are strategic partners of EY Central America, members of GAN, and part of XCALA (BID-FOMIN).
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