The recent study conducted by AXON Marketing & Communications reveals the challenges faced by startups in Latin America and highlights the trend of many of them developing their own value ecosystem to ensure their success. While venture capital investment has shown a decrease in the region, Peruvian entrepreneurs find opportunities in programs like Startup Peru.
According to the study titled “From Startup to Unicorn: Key Communication for Positioning” by AXON Marketing & Communications, there are five fundamental challenges that startups must face to succeed in different markets. These challenges include having financing and/or capital flows, working on brand positioning and reputation, having talented personnel and a management team, adapting their product and/or service to the local market, and complying with legal and administrative regulations.
Currently, 90% of businesses prefer to develop their own value ecosystem for their brand. “It is crucial for a growing brand to understand that success goes hand in hand with investment, whether it is for social media advertising, buying advertising space, or requiring the services of an agency to position themselves. While it is true that nowadays it is much easier to promote a product or service, there is also much more competition, and to stand out, it is necessary for each brand to have a differential or for their product or service to generate added value,” comments Federico Wals, Director of Accounts in Latin America at AXON Marketing & Communications.
In Peru, initiatives like Startup Peru support the growth of these business ideas. One of the most relevant initiatives is Startup Peru, an initiative of the National Program for Technological Development and Innovation (ProInnóvate) and the Ministry of Production. Startup Peru co-finances startups, incubators, accelerators, and angel investor networks, thereby strengthening their capabilities. It is essential to promote the creation of similar programs to replicate the success stories in Peru, such as Leasein, Chazki, Manzana Verde, Sicurezza, Favo, and Fint.
“At AXON Marketing & Communications, we are proud and privileged that in our over 18 years of experience in various countries in Latin America and the United States, we continue to have the opportunity to orchestrate the ‘landing’ of different companies and/or startups in new markets. This has allowed us to perceive their needs and materialize their ambitions,” concludes Wals.
While venture capital investment shows a decline in Latin America, Peruvian entrepreneurs find opportunities in programs like Startup Peru to strengthen their capabilities and grow their business projects, thus contributing to the country’s economic development.