With the aim of promoting the establishment of a technology-based accelerator that supports startups through financial backing, mentoring, training, and access to a broad network of regional and international contacts, the Uruguay Innovation Hub program selected the Israeli investment platform OurCrowd from among 14 competitors asthe startup acceleratorthat will lead operations in Uruguay.
This is how OurCrowd LATAM Labs came to be, through a strategic partnership between OurCrowd, ORT’s Center for Innovation and Entrepreneurship (CIE), and the incubators Ingenio (part of LATU) and Mana Tech, based in Miami, Florida.
We have created a powerful triangle that connects local and global capabilities from Israel, the United States, and Uruguay. Together with our partners, we will combine a high-quality pipeline of businesses, proven acceleration methodologies, an unprecedented network of investors and multinational corporations, and global expansion channels to bring opportunities to the Uruguayan ecosystem and propel local talent onto the global stage
Maayan Schreiber, MBA, CEO of OurCrowd LATAM Labs.
The Uruguay Innovation Hub is a national public-private, inter-agency initiative led by the Ministry of Energy and Mining (MIEM), the Ministry of Economy and Finance (MEF), the Ministry of Education and Culture (MEC), the Office of Planning and Budget (OPP), the National Agency for Research and Innovation (ANII), the Technological Laboratory of Uruguay (LATU), and Uruguay XXI. An evaluation committee comprising, among others, Francisco Solsona (Google), Joaquín Morixe (Globant), Karen Bruck (Mercado Libre), Laura Fornasari (Argentine Association of Private Equity, Entrepreneurship, and Seed Capital—ARCAP), and Santiago García Da Rosa (entrepreneur and former Nowports employee) was responsible for selecting this proposal.
Expanding local businesses into international markets
With this accelerator now established in the local market, new opportunities are opening up for startups that seek to innovate in their sector, target a global market, and have a business model that is scalable and dynamic.
Since its inception, the CIE has promoted the development of an entrepreneurial culture, and as a member of this consortium, it will play a key role in fostering the growth of startups and contributing to the added value they will bring to society.
"This new initiative will put Uruguay and the CIE on the global map. It opens up a world of opportunities for local and international entrepreneurs to access an international network of mentors and investors, which will catalyze their growth and invigorate the entire local entrepreneurial ecosystem," said Enrique Topolansky, MBA, CTO of OurCrowd LATAM Labs and director of the CIE.
A solid structure
OurCrowd LATAM Labs will be headquartered at the LATU Technology Park and will feature a team of leading figures from the business sector and the entrepreneurial ecosystem, both nationally and internationally.
It will be led by a group of international and local professionals with extensive experience in the technology and investment sectors: Johnatan Medved, CEO of OurCrowd, Chair of the Investment Committee, and Board member; Maayan Schreiber, CEO of OurCrowd LATAM Labs; Pablo Brenner, Chair of the Board; Eduardo Mangarelli, Board Member (ORT), along with Enrique Topolansky (ORT-CIE), Rosana Fernández (LATU-Ingenio), Ilana Soloducho, Etienne Gillard (Mana Tech), Teddy Lin, Ariel Lijtenstein, and Michelle Frider, among other members.
"We are proud to be part of the alliance selected to lead the acceleration process within the framework of the Uruguay Innovation Hub. The combination of our international partners' expertise —OurCrowd and Mana Tech—, academic and technological training, and key players in the local ecosystem—CIE-ORT and Ingenio—strengthen and underscore our passion and commitment to promoting and developing the entrepreneurial ecosystem in Uruguay," said Eduardo Mangarelli, a member of the Board of OurCrowd LATAM Labs and dean of the ORT School of Engineering.
"I am pleased to be a member of this multinational team, whose diverse backgrounds and extensive global network hold the potential to empower a new generation of Uruguayan entrepreneurs. Our collective efforts are poised to further advance Uruguay’s thriving technology ecosystem, in line with the strategic vision outlined by the Uruguay Innovation Hub initiative,” said Pablo Brenner, Chairman of the Board of OurCrowd LATAM Labs and Chief Technology Officer at BMG Group.
"This program takes our ecosystem to the next level. It is a much-needed milestone to support the growth of our entrepreneurs, as it opens the door to the big leagues and provides them with the tools to compete more successfully for international markets and funding. That is why it is so attractive, both to our entrepreneurs and to entrepreneurs across Latin America. Attracting these profiles will capture the attention of other key players such as angel investors, venture capital groups, corporations, etc. We must view this program within the context of the national strategy that has been outlined, which aims to position Uruguay as a regional innovation hub. "That is why it is 100% aligned with the goals of local partners, and that is what makes the consortium we have formed so powerful," said Rosana Fernández, MBA, Executive Team and Committees at OurCrowd LATAM Labs and head of the Ingenio incubator at LATU.
This initiative will enable entrepreneurs to access financial resources, guidance, and connections to global networks, which will ultimately open doors to exponential growth—a process in which ORT is proud to play a part through its Center for Innovation and Entrepreneurship.