ABOUT STARTUP AVENUE

Our greatest challenge returns for the third consecutive year. Are you ready to accept it?

The world is full of challenges to be solved, from basic human needs to environmental needs.

The more we advance with technology and development, the more opportunities arise. For the same reason, it is necessary to ensure the nutrition of the planet, improve health systems, solve the transport system in cities, reduce travel time between countries factoring environmental impact, create employment, bring technology to all corners of the planet, take care of animals, promote education, and many more.

The entrepreneur is the brave one, who chooses one of these great challenges as his mission and is willing to dedicate his life to solve it. But this path is not easy, facing major problems with proposals of real value entails effort, dedication, discipline and above all passion. However, it is those who dare, who ultimately impact the world in a positive way, leaving a mark, improving lives, and receiving benefits for it.

Startup Avenue seeks to find those brave game-changers and bring them together to show, not only Guatemala but the world, how things should work.

Are you brave enough to take the challenge?

CHALLENGE:

Startup Avenue is a competition that aims to show the world the potential that Guatemala has in terms of innovation and entrepreneurship. Only 50 national and international ventures will have space to exhibit their business models in front of the Volcano Summit community and the general public. The exhibit consists of a business pitch in front of a select panel of judges that will determine who goes on to the following rounds. This will give the ventures an opportunity to be evaluated and heard by potential investors and mentors, but also to win important prizes.

The enterprises will be divided according to their maturity in the following three categories:

  • Business Idea: From those businesses that have already defined their business plan and already developed an MVP (Minimum Viable Product) to those with less than six months in market.
  • Seed and Early Stage: For those ventures that have at least six months in the market but less than two years. They already have an initial work team and clients but need capital to continue growing.
  • Growth & Scalability: For those enterprises or businesses that have more than two years in the market, have an established team and seek to maximize their sales and/ or raise capital to continue growing. They have a strong validated business model.

Each of these categories will function independently under different qualification parameters and will compete only with the undertakings of its same category.

This year, any qualifying startup will also be eligible to win a trip the United Arab Emirates and compete in the Fintech Abu Dhabi competition an event with 5,000+ delegates from over 70 countries in MENA’s Leading FinTech hub. Any startup that is part of the fintech industry will be eligible for this prize.

TIMELINE

Monday, February 24 – Release Date
Saturday, April 4 – Application Closing Date
Friday, April 17 – Date of list resolution of 50 participants
Friday, April 24 – Deadline to confirm participation
Friday, May 15 – Startup Avenue, Pitch Round 1 and selection of 20 finalists at Hotel Selina
Sunday, May 16 – Pitch Round 2 and selection of 8 finalists at Hotel Casa Santo Domingo
Saturday, August 29 – Final round at Universidad Francisco Marroquin

APPLICATION AND PRESELECTION

From all applications received a judging panel will select the best 50 startups. In the selection process judges will evaluate each category independently. These selected Startups will have the opportunity to pitch at Round 1, on Friday May 15th at Hotel Selina.

To apply, access the "Apply here" button according with your category and complete the requested information.

Round 1: Startup Avenue, Hotel Selina, Friday May 15th from 10am to 3:30 pm

Each participant will have a stand where they can present their business to the national and international public from 10am to 3:30 pm

Pitch in private by category in front of their respective judging panel in Hotel Selina from 10am to 3:30 pm.

  • 3 min Pitch
  • 2 min Q/A

20 finalists will be selected and will classify to Round 2.

Round 2: Volcano Summit, Hotel Santo Domingo, Sunday, May 17th from 10am to 1pm

Pitch in front of a group of senior businessmen who will serve as jury for the 3 categories. This round will be open to the general public.

  • 4 min Pitch
  • 3 min Q/A

8 winners will be selected and classify to Round 3. The 8 finalists go to Round 3 and begin mentoring sessions with Alterna or UFM to be prepared for that round.

Qualification parameters

The qualification criteria are wighted depending on the category in which your venture is participating. The main areas of qualification are market, innovation, financial viability and team.

FAQ

How do the categories work?

There are three categories:

  • Business idea: From those businesses that have already defined their business plan and already developed an MVP (Minimum Viable Product) to those with less than six months in market
  • Seed and Early Stage: For those ventures that have at least six months in the market but less than two years. They already have an initial work team and clients but need capital to continue growing.
  • Growth and Scalability: For those enterprises or businesses that have more than two years in the market, have an established team and seek to maximize their sales and/ or raise capital to continue growing. They have a strong validated business model.

I compete only against my category?

Yes. Each category is independent and is governed by selection criteria weighted in different ways. Although in Round 2, it is the same panel of judges for the three categories, the selection parameters of each one will be respected.

How were the judges selected?

The judges were carefully selected by the Volcano Summit team, together with Alterna and UFM taking into account their experience and track record.

What is a good pitch?

You can ask for a PDF explaining what we believe a good pitch is at: startups@volcanosummit.com

How much time do I have to make the pitch?

For round 1 on Saturday you will have 3 minutes to make your pitch, then 2 minutes of questions by the judges. You will also have a minute of logistics to prepare and present.
For round 2 on Monday you will have 5 minutes to make your pitch, then 2 minutes of questions from the judges. You will also have a minute of logistics to prepare and present.

What is the stand like and what should I bring?

Each participant will have a stand to present to the public their business located in the Hotel Selina. We will send selected startups all the information about their stands.

What material do I need to bring to present my pitch?

The presentation format is free. If you have a presentation that supports your pitch, bring it in PDF format or PowerPoint as well. You can present a video, or any other digital or physical element that supports the improvement of your pitch experience. You must bring all the digital documents you need in USB.

Should I present in English?

It is not mandatory, but we strongly recommend doing so. It is very likely that at least one member of your judging panel would need to hear your pitch in English. We also expect visits from more than 20 different countries, so we hope to have the opportunity to teach the best that Guatemala has to all our visits.

If you have more questions, please contact:
startups@volcanosummit.com