The startup was founded in 2017 by Mauricio Pintado, a graduate of the Specialization Diploma in Human Resources, and Rodrigo Pereira. Drawing on their industry expertise, the two identified an opportunity that not only adds value to companies but also contributes to the inclusion and formalization of the seasonal and temporary labor market.
The entrepreneurs presented their pitches alongside five Latin American entrepreneurs from Uruguay, Argentina, and Peru before a panel of experts consisting of Susana Garcia Robles (IDB MIF), Marta Cruz (NXTPlabs), Matias Cerri (Corteva Agrocience), and Javier Accattoli (Banco Macro).
What did Agtech offer you beyond the award?
We had the opportunity to meet entrepreneurs who have managed to grow their businesses significantly.
They went through the same process we did, and today they have companies with incredible value and potential. We were also able to connect with investors, including some angel investors and other investment funds.
We were surprised by the interest in investing in our startup; that speaks well of the path we’ve been on and of Zafrales’ potential.
We met some very influential people in the agricultural sector, with whom we were able to chat and exchange ideas.
How did you prepare for the pitch?
Preparing the pitch—even though it’s only a 5-minute presentation—is very complex. Because beyond how visually appealing the presentation may be, it must contain key information, be easy to understand, and be strategically structured. That helped us grow and prepare for situations we weren’t used to.
You went there with an investor—so what was your main goal in the competition?
We arrived with our first round of funding practically closed. Our goal was to win the pitch competition, but we were also very interested in networking, listening to presentations from other companies, and seeing how the startup ecosystem operates in another country.
What are investors' intentions?
It's quite diverse, but they're looking for innovative, scalable business models with a large market and little competition.
If any of these conditions apply, you can start talking to them. Typically, you should have a clear idea of how much money you need, what you’ll spend it on, what you’ll generate, and most importantly, what you’ll offer in return for that money.
What are Zafrales' next steps?
Our overarching goal is to establish a strong foothold in Uruguay, but to do that, we need to have a solid technological foundation that will enable us to scale our business and continue to set ourselves apart from the competition.
In terms of sales, we anticipate a significant increase; based on current orders for 2019, we expect to reach approximately 50,000 workdays per year.
We hope to close our second round of funding within 12 to 18 months so we can start expanding into another country in the region.