Daniel Undurraga never thought he would sell even one Latin American company to a company in the US market, but with the recent US$225M acquisition of Cornershop, a grocery-delivery app he has officially sold two startups to US companies. His first startup, Needish, was the basis for Clan Descuento, a Chilean Groupon clone that was acquired by Groupon in 2010. Clandescuento’s acquistion was before most people in Chile had heard of startups!
Daniel is a lifelong entrepreneur with his share of failed projects, but ever since he and his business partner Oskar Hjertonsson found their niche in Latin American e-commerce, they’ve become an example for the whole ecosystem.
I sat down with Daniel on this episode of Crossing Borders to talk about the Latin American startup ecosystem, living and working across borders, and advice for founders who are launching and scaling in Latin America. We also discuss the backstory behind Cornershop’s decision to not raise capital in Chile and their experience raising money from funds across in Latin America.
Continue reading “Daniel Undurraga: The Story Behind the Cornershop Acquisition, Ep 65”
From a very young age, Komal Dadlani has wanted to make a difference in the world. After studying the careers of people who had changed the world – Albert Einstein, Marie Curie, Pablo Valenzuela – Komal realized that she wanted to be a scientist, specifically a biochemist. Studying science in Chile is not easy; up to 88% of schools don’t have lab equipment, and even those that do are not using it. This struggle inspired Komal to cofound Lab4U, a company that democratizes science by turning smartphones into scientific experiment devices. Komal has grown Lab4U across Chile, the US, and Mexico, while working alongside the Inter-American Development Bank to test her educational tools and overcoming the challenges of being an immigrant, female founder starting her company in Chile and doing business across borders in Silicon Valley.
I was glad to finally have a chance to sit down with Komal to talk about raising capital across Latin America and the US, growing up as the child of immigrant parents in Chile, and how a serendipitous Startup Weekend run by Start-Up Chile entrepreneurs launched her into her entrepreneurial career. Check out this episode of Crossing Borders to learn how Komal journeyed from Arica in the North of Chile to Santiago, and finally to Silicon Valley.
Continue reading “Komal Dadlani, Lab4U: Turning Smartphones in Science Labs, Ep 63”
As Start-Up Chile’s first Executive Director, Jean Boudeguer was one of the first people I met when I arrived in Chile. Jean is actually the only ex-Start-Up Chile Executive Director who had not yet appeared on Crossing Borders! Jean faced unique challenges as Start-Up Chile’s first director. He had to build the program, yet didn’t have any previous governmental experience. After Start-Up Chile, Jean went on to build two Fintech startups, Cumplo, a peer to peer lending business and Clay, an accounting software for Latin America.
I sat down with Jean on this episode to discuss how he transitioned from a traditional career as a software engineer to working in the government and finally to becoming an entrepreneur. Jean understands the challenges and benefits of working in the private vs. public sector in Chile and what it’s like to build businesses. Check out this episode of Crossing Borders to learn from one of the main actors responsible for helping build up Chile’s entrepreneurial ecosystem.
Continue reading “Jean Boudeguer. Clay: Start-Up Chile, Cumplo, and Accounting in Latin America, Ep 62”
Horacio Melo and I have been trying to organize a time to do this podcast for a few years and I’m excited to finally be able to share it. Once the Executive Director of Start-Up Chile, Horacio went on to build his own startup – just two months after becoming a Dad for the first time. Horacio knows what it takes to build a great company; after all, he watched and mentored over 1000 startups as they passed through Start-Up Chile. His solar energy company, Solarity, has raised three rounds of investment, starting with US$650K in their seed round, then adding a US$18M in follow on funding.
Horacio can speak to the difficulty of selling an innovative business idea to conservative corporates in Chile and Latin America, despite Chile being one of the best places in the world for solar energy. He also discusses his transition from corporate jobs to entrepreneurship, the importance of culture in building a sustainable startup, and what he learned as Executive Director of Start-Up Chile.
Continue reading “Horacio Melo, Solarity: From Start-Up Chile to Solar Energy, Ep 60”