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What is the next big thing in 2024?
If there's one thing humans have long come to terms with, it's that everything changes. Dating back to 500 BCE, the Greek philosopher Heraclitus was already onto something big when he noted that the world is in a constant state of flux. His famous words, "Everything changes and nothing stands still," still echo today.
Jump to the present, and it's clear that change is an ever-present aspect of our lives, influencing both personal development and the broader scope of human progress, for better or worse. Usually, a fresh perspective is welcomed, especially with the rapid pace of change driven by technological advancements. There's always something new on the horizon.
Inspired to live in and understand these shifts, we created "The Next Big Thing LatAm" and are thrilled to present its second edition. We reached out to leading thinkers and tech leaders to complete the statement: "The next big thing in 2024 is..." This simple query helped us compile a comprehensive and insightful vision of the upcoming major trends that will shape the future of Latin America. Unlike last year, we left the topics open, allowing our guests to choose their areas of interest. The result is a report that's denser, more dynamic, and more varied.
This report draws inspiration from Nikhil Basu's American version of "Next Big Thing."1 We take pride in localizing this report, ensuring that unique perspectives from our region's thinkers are spread worldwide. After all, LatAm is definitely 'The Next Big Thing' in many aspects. The more we share our great ideas and thinkers, the better. So, if you like what you read, spread the word too! It's a virtuous circle.
As always, comments, suggestions, and questions are welcome.
Enjoy the ride,
Julia & Lucas
The next big thing LatAm 2024 is…
In Businesses…
Diego Barreto, Ifood VP of finance and strategy
The next big thing is the democratization of portability. Brazil (Executive and Legislative houses) have understood the benefits of allowing citizens and companies to make decisions once they own an asset. The use of portability as a tool reduces tremendously the barriers to entry and therefore increases competition, forcing companies to invest more in UX and CX. Portability is already in the financial and telecom industry, among others. HR benefits, capital markets, and investment funds are developing their concepts and tools. More industries, such as health, are expected to be forced to allow assets to be portable.
Fersen Lambranho, Chairman Of The Board at GP Investments and G2D Investments
The next big thing is the transformation of traditional companies with robust business models as they harness the power of the AI revolution. The rapid advancement of Large Language Models (LLMs), especially in the deployment of agents, will empower internal technology teams with capabilities for rapid and cost-effective development, unlike anything seen before. Business models are reemerging as the primary drivers of value creation, with technology playing just a supporting role.
Thibaud Lécuyer, CEO Loggi
The next big thing in 2024 will be the differentiation between startups that will manage to become a going concern company versus the ones still trying to find a path to profitability. The result will be a positive financial measure but the real important topics to ace are multiple and various, such as: creating a culture focused on client, innovation and results, assembling the right management team, implementing performance systems to measure progress, adjusting the product to become "market fit", re-evaluating pricing with a new lens, but most importantly solving the client's problem. Given a startup goes "at 200 km/h", adjusting or changing some of these pieces is much more an art than a science.
In Growth Capital…
Carlos Ramos de La Vega, Venture Capital Director at LAVCA
The next big thing in Latin America tech is increased interest in horizontal consolidation driven by well-capitalized startups allocating resources towards inorganic growth opportunities. Consolidation will also represent an opportunity for incumbents to partner with high quality talent and acquire attractive technologies to complement their core businesses, potentially enabling liquidity events for early-stage investors across the ecosystem.
Joaquim Lima, General Partner Riverwood Capital
The next big thing in growth investing in Latin America in 2024 is a return to fundamental business principles and sustainable growth. We continue to believe that companies led by exceptional founders, with large addressable markets, and backed by secular growth trends, have the potential to become leaders in Latin America and globally. Riverwood has and will continue to seek to partner with and support these leaders, such as Vtex, Dock, 99, Omie, and many others.
Shu Nyatta, Founder and Managing Partner Bicycle Capital
The next big thing is redefining what big means. The last cycle fetishized growth and scale with almost no attention to capital efficiency or predictability of unit economics or robust organizational structures. Latin America needs more exits to make the startup flywheel turn, and there are no exits without scale, but gone are the days of “scale at any cost.” What companies need to crack next, which is much tougher, is a healthy scale.
In Artificial Intelligence…
Aline Pezente, Co-Founder and CPO Traive Finance
The next big thing is Graphical AI in Synergy with LLM.
Knowledge Graphical Aware (KGA) models represent a transformative trend in AI. By synergizing with Large Language Models (LLMs), they overcome limitations in interpretations and complex data structures in domains like finance. KGA models have the ability to structure contextualizing data empowering LLMs to analyze risk and innovate financial services with unprecedented accuracy and minimal hallucination, which is a problem of foundational LLMs. This integration marks a new era in AI-driven financial decision-making, changing how we assess risks and structure financial services for good.
Chris Yeh, General Partner Blitzscaling Ventures
The next big thing in 2024 will be in the field of AI. Thus far, the first generation of AI applications have been plug-and-play applications that substitute AI for human brainpower to accomplish discrete tasks. In 2024, the next generation of AI products will emerge from startups that use first principles thinking to design entire systems with AI as their foundation, rather than simply as a substitute for humans. These systems will look very different from their current counterparts, but will be faster, better, and cheaper.
Daniel Costa, Co-Founder and Chairman Blip
The next big thing is conversation platforms (like WhatsApp) powered by AI as a value generator for businesses.
Since ancient times, conversations have been a powerful tool in humanity, capable of triggering everything from simple and affectionate actions between two people to business transactions and the start or end of wars between nations. In Ancient Greece, the intellectual world stood out for its great debates and philosophical inquiries. Currently, this ability to question finds a parallel in the generation of "prompts" for artificial intelligence solutions, demonstrating how the right questions can extract the best from emerging technologies.
These prompts are evolving into an innovative field known as "prompt engineering." We believe that, in 2024, conversation platforms like WhatsApp, powered by artificial intelligence and copilots, among other innovations, will be recognized as generators of the most valuable assets for businesses in terms of sales, customer service, and engagement. This approach orchestrates an interaction never seen before, where almost autonomous agents or "conversational apps" can manage the customer journey, from the sales funnel to integrated payment methods, in a continuous and highly personalized dialogue. These advances efficiently and innovatively meet people's most urgent needs
João Manoel Pinho de Mello, Partner Opportunity and EESP FGV Professor
The next big thing is bot-like interfaces of Large Language Models (LLM), GPT-4 and ChatGPT to the end-users, that is, consumers, workers and businesses small and large.
The dissemination of AI through all branches of society and businesses alike seems a matter of time, as measured in years not decades. AI has been widely used is some sectors - targeted advertising being an illustrative example. But the emergence of bot-like interfaces of Large Language Models (LLM), GPT-4 and ChatGPT respectively, has brought AI to the end-users, that is, consumers, workers and businesses small and large. Finance and payments will not go “unscathed". Think financial education. It does not take a visionary to imagine the following use being available shortly: consumers asking a bot-like interface - say, WhatsCheaper using a model specially - whether it’s better to accept a 2% discount offer to purchase an item using a platinum card issued by bank A, or do buy now, pay later with 4 installments. The consumer could further ask the bot how the installments would affect her flow of payments over the next four months; or how each choice would affect her credit score. The consumer, having chosen pay credit, could ask the bot to find the optimal use for the miles earned with the transaction, given her history of purchases. The “WhatsCheaper” bot is just one of an unimaginably large set of possibilities of AI for finance-type uses. The prowess of computing will allow ever more people, without particular training in computer sciences, to use the technology in mundane every-day life situations. My view is that these uses will produce enormous value.
For the purpose of this note, I use the terms Artificial Intelligence to mean the ever increasing ability of computer to use an ever increasing amount of data to produce ever more useful data for practical purposes.
Marta Cruz, General Partner and Co-Founder NXTP
The next big thing for 2024 will be process automation through generative AI. However, it's crucial to emphasize the accelerated development of cyber-resilient products achieved through the use of AI technology. As cyber threats become increasingly sophisticated, there is growing competition to develop new solutions that can generate barriers before an attack occurs.
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In financial markets…
Cristiano Guimarães, Head of Corporate, Investment Banking, Fixed Income, Equities at Itau BBA
The Next Big Thing in LatAm for 2024 is the strategic utilization of emerging technologies such as blockchain, tokenization, and artificial intelligence in financial markets. These advancements are set to transform how different market segments access and interact with capital. For investors, AI will open doors to smarter, data-driven investment choices, offering a level of personalization previously unavailable. Small and medium-sized enterprises (SMEs) stand to benefit from blockchain and tokenization, which will provide novel, more efficient ways to secure funding and manage assets.
Moreover, the role of data in this evolution cannot be overstated. It will be the cornerstone in developing tailored financial solutions for all client types, ensuring that each investor's unique needs and goals are met with precision.
Daniela Binatti, Co-Founder and CTO Pismo
The next big thing is that in 2024 banks will be speeding up core replacements on their tech infrastructure to remain competitive. Most financial institutions' payments and banking processing platforms are not ready to leverage the capabilities of vital new technologies like artificial intelligence. The recent public errors caused by legacy platforms weigh heavier than ever, incentivizing them to replace their infrastructure promptly.
In the economy…
Laercio Oliveira, Brazilian Senator
The next big thing for the development of Brazil is to make it self-sufficient in fertilizers. This is a matter of national security. It doesn't make sense for us to be a major food producer but dependent on imported fertilizers.
To address this issue, the Profert (Fertilizer Industry Development Program) is under discussion in the national congress, ensuring incentives for investments in projects for the establishment, expansion, or modernization of infrastructure for fertilizer production and its inputs. The initiative was based on the National Fertilizer Plan and aims to reduce external dependence, improve the business environment, and attract investments to the sector.
Vanessa Jacob, Of Counsel at Wilson Sonsini Goodrich & Rosati
The next big thing are IPO Exits! Arm, Instacart, and Klaviyo priced their IPOs in Q3 of 2023, marking some of the first notable IPOs by technology companies in recent years. As macroeconomic conditions and market sentiment appear to stabilize, whispers of IPO potential have started to emanate from the boardrooms of late-stage private companies, underwriters, and venture funds. After a long quiet period, there are finally signs of life. Several Latin American startups have been generating considerable attention from investors and industry observers, with expectations that they might consider IPOs in 2024. Our best guess is notable startups that have received significant funding and demonstrated sustainable growth – though there might be some outliers preparing as well. With the IPO market showing signs of a resurgence, companies should take action to maximize their chances of taking full advantage of their optimal IPO window when it opens up, marking a notable exit event for their stakeholders.
In Climate Tech…
Guilherme Penna, Investor Silence VC
The next big thing is the surge in climate tech investment.
In 2023, the world witnessed unprecedented natural disasters, from fires in Maui and Greece to an eerie orange sky in New York and deadly heat waves in India. LatAm faced its own challenges, including disruptive droughts in Northern Brazil and unprecedented floods in Jalisco/Mex, and Porto Alegre/BR. Those adversities pushed for a positive shift, marked by a stronger collective willingness to address climate change, with innovation playing a crucial role. Although climate tech has gained global attention, Latin America remains relatively unexplored.
Looking ahead to 2024, a surge in climate tech investments is anticipated. To meet global agreement goals, investments, ranging from 7-19% of GDP annually, represent a pivotal turning point for climate tech in Latin America. This surge is expected to attract A+ talent, not just driven by personal sacrifice but also recognizing the immense career potential in this burgeoning industry. This shift will accelerate the development of new software solutions to mitigate and also adapt to climate change. We should expect disrupting deforestation, better reporting tools, land-use changes, and promoting circular economy practices. The focus includes extending product lifetimes and implementing innovative recycling and waste management strategies to reduce environmental footprints. Grid optimization is also mandatory to absorb the boost in solar and wind energy development in recent years.
Luisa Sucre, Principal Collaborative Fund
The next big thing in 2024 is that climate innovation will hit the bottom line. Entrepreneurs building in areas such as renewable energy, deeptech, agtech, and food waste reduction will see their mission-driven work translate into outsized economic value creation.
In health….
Claudio Mifano, Co-Founder and CEO Livance
The next big thing will be strategic partnerships between healthcare payers and providers.
With the healthcare sector increasingly at a crossroads amidst significant financial losses and widespread dissatisfaction among almost all stakeholders, the trend will be strategic partnerships between payers and providers, emphasizing those who can align experience and efficiency through the use of data and technology. Perhaps more than a trend, it will be a matter of survival.
Manoela Mitchell, Co-Founder and CEO Pipo Saúde
The next big thing is the utilization of AI in healthcare fraud emerges as the largest opportunity for cost reduction as healthcare costs in Brazil have surged by 20% YoY and fraud represents 10% of that. Moreover, there is a cultural shift underway, increasingly focusing on penalizing fraudulent practices of beneficiaries and providers, creating the perfect momentum for change.
Ricardo Salomão, Co-Founder and Managing Partner Green Rock
The next big thing in the healthcare sector in 2024 is solutions aimed at making the system more efficient. In the current complex scenario, with healthcare providers reporting billion-dollar losses and service providers struggling with lengthy payment terms, the key word is cost reduction. Overall, healthcare is still a sector that operates with many inefficiencies and will need to adapt to a context of tighter margins.
Solutions that aim to automate processes, assist in the purchasing process, or reduce claims are examples of solutions with great potential for expansion if they can demonstrate proven cost savings. In the realm of claims reduction, trends such as dehospitalization, population management, preventive healthcare, among others, are worth mentioning. It is important to note that generative artificial intelligence is expected to be a significant catalyst for these solutions.
In Global expansion…
Bianca Martinelli, Partner Alexia
The next big thing is that LatAm tech companies are increasingly embracing a global approach. In 2024, expect a surge in tech startups from LatAm gaining international prominence, driven by scalable go-to-market strategies such as product-led growth and tech-enabled communities (i.e., channel partnerships).
Rodrigo Baer, Co-Founder and General Partner and Matheus Schettini, Investor at Upload Ventures
The next big thing is that in 2024 we will add momentum to the creation of Latin American (LatAm) startups aiming to go beyond regional borders and compete in the global marketplace. Emboldened by success stories such as DLocal, Auth0, and the more recent Pismo, visionary founders are realizing the attainability of global scale.
Seasoned entrepreneurs, having navigated the Brazil/Mexico landscape, are now setting their sights higher and encountering an experienced talent pool in scaling startups and the funding ecosystem to support them. This marks a pivotal moment for the ecosystem.
Successful global expansion not only expands addressable market but also opens doors to increases funding options and, crucially, a widens the spectrum of exit opportunities. The recent landmark USD 1 billion acquisition of Pismo, a Brazilian unicorn with an international clientele, by Visa stands as a testament to the realization of these aspirations. It underscores that with strategic planning and execution, such endeavors can be remarkable successes.
In education…
Amaral Medeiros, Obama Scholar
The next big thing is that corporate education will open up. New players will realize that incumbents offer a mediocre product and will start to offer new more personalized, more scalable and cheaper products that address the needs of companies to upskill and reskill their employees faster. This name of the game will be personalization at a fair price and the winners will be the ones who crack product and go to market TOGETHER. New is not enough, better and more affordable is the way forward.
Esteban Sosnik, Managing Partner and Enzo Cavalie, Principal at Reach Capital
The next big thing is that artificial intelligence reduces the upfront development costs of content and distribution, undermining incumbents who mainly rely on scale, standardization, and low costs to offer degree-based education. Content will no longer be the main differentiator in online education, but rather the capacity to increase personalization, create support systems for students, and encourage reflection and active practice. Now, more than ever, incumbents are vulnerable to new, disruptive education players who can offer this at affordable costs thanks to AI, while focusing on employable skills.
In Cybersecurity…
Paola Neira, Co-Founder Latu
The next big thing in 2024 is the redefinition of the risk landscape. AI is democratizing sophisticated cyber tactics that were once only used by large-scale groups, and we have already started seeing more crafted and personalized social engineering attacks at greater scales than before. This broadens the scope for higher-quality attacks on a massive scale and allows a wider array of attackers to exploit new vulnerabilities.
AI will function both as a tool for defense and as a weapon. To stay ahead, security systems must proactively identify and adapt to emerging threats, offering real-time, automated defenses, and as cyber risk can never be fully mitigated, we'll continue to see an increase in the already exploding cyber insurance market. SMEs will now become targets of these advanced attacks, making resilience paramount. Cybersecurity is no longer a concern exclusive to large corporates.
In SaaS…
Miguel Armaza, Co-founder and General Partner Gilgamesh
The Next Big Thing is the growth of vertical SaaS. The business landscape in Latin America is witnessing a pivotal shift, with vertical SaaS emerging as a key driver of operational efficiency. Over the past few years, we have noticed a significant change in the mindset of business owners in the region. They are now more open than ever to invest and pay for specialized software solutions that promise to streamline their operations. This trend, powered by the adoption of vertical SaaS, is not just a fleeting phenomenon but a clear indicator of the region's evolving business ethos.
Rodrigo Tognini, Co-Founder and CEO Conta Simples
The next big thing in the fintech space is the acceleration in the verticalization, especially with the B2B business model. The main drivers and trends involve integration in multiple directions, such as banks with banks, ERP with banks, banks with ERPs, and so on. This boost will be driven by open finance and the evolution of PIX. The financial market will be much more integrated, and users will use multiple solutions seamlessly.
In the venture capital space, we'll see a slight increase in the number of deals and investments in Brazilian startups, especially for Series A+ rounds, which were the most impacted after the boom in 2021. It will undoubtedly be a better year for startups compared to 2023 but still far behind what we experienced in 2021 (a phenomenon that only happens once in a decade).
In creators…
Camila Coutinho, CEO at GE Beauty and Garotas Estúpidas (ig: @camilacoutinho)
The next big thing will be the expansion of the spectrum of what is considered an influencer. Until now, the understanding was that someone with many followers is an influencer, but the future reality is that this spectrum is becoming more elastic and expansive. An example of this trend is the algorithm and user preference on TikTok, which focuses on and generates much more attention for unknown individuals reviewing products than for celebrities and highly produced content. This indicates that people have returned to believing more in someone who seems like their neighbor, their friend. This differs from the dynamics of YouTube and Instagram, where you have to build notoriety to be heard, and it makes us see "ordinary people" gaining more importance. The result is the reinforcement of the user-generated content (UGC) trend, where "ordinary" people receive products and are paid lower amounts to produce digital content for brands to use, similar to the product seeding phenomenon for those with fewer followers. Influencer marketing is growing every day, reaching the base of the pyramid.
This leads to a greater diversification of companies' marketing budgets and is also part of the rationale that companies should build their pyramid well. In the end, it reflects what we talk about every day: the why and the function of each influencer in building the brand. It will always be necessary to understand whether the focus is on positioning, credibility, brand awareness (which is the focus on celebrities and larger influencers). Until we reach the base of the pyramid, these lovers, people who are not famous but receive the product and talk about it on the internet.
A phenomenon is already happening in society: either you produce or you consume. There are already people being paid to consume - which used to be something that had to be natural, the person had to be interested in consuming - people are now paid to consume, to comment, to play. This trend of pay-to-play and pay-to-watch will also bring a lot of elasticity to the ecosystem of those making money on the internet. The internet economy, especially in developing or underdeveloped countries, which still have a lot of room for growth, may see this installation happening more quickly. The next big thing is the elasticity of the creators' economy through the proliferation of influence, aiming for more real connections and a redefinition of what it means to be an influencer - which will become increasingly accessible.
João Pedro Motta, Creator and Entrepreneur (ig: @joaopedro)
The next big thing is the creator becoming a main communication channel. The ONLY way a brand communicates today is through creators. Think for a few minutes: when was the last time you discovered something, like a new product, through a television commercial or short ads on YouTube in the past 12 years? The biggest challenge for brands today is precisely this: communication. They pay for the message to reach their target audience, but this message is skipped in the first few seconds. Now, when a content creator talks about a brand or product, you stop and listen because they hold your attention. You probably found out about the iPhone 15 and its features through a creator's review, and you know that the so-called tech t-shirt doesn't wrinkle, doesn't retain odor, and doesn't fade because you saw some creator mentioning it. Ten years ago, if an automaker needed to recall a vehicle, it was enough to air it during the national news break... today, they are investing in simple online ads .. but there are people who won't watch until the end or won't even understand what it's about. But maybe, if a content creator posts it, the message will come across more efficiently.. New times…
Leandro Souza, Newsletter Editor at Startups.com.br
The next big thing for media in 2024 is artificial intelligence. But wasn't it already the next big thing this year? In my view, we haven't seen anything yet. As many experts indicate, 2024 will be the year in which AI stops being a buzzword and a "toy" in a playground of ideas, to truly establish itself as a fundamental part of innovative projects. In the case of the media, it will be the year to understand how a multitude of tools will become working partners and not substitutes for professionals, and how they can operate in favor of more personalized, creative and engaging content - and not the opposite. It will also create a big challenge for the coverage of the US elections. The abuse of IA tools to manipulate public opinion through fake news, videos and images will force newsrooms to pay extra attention to everything they see, read, ou hear.
In retail…
Marcelo Lombardo, Co-Founder and CEO Omie
The next big thing is in the B2B E-commerce segment.
We all know there are plenty of e-commerce platforms for SMB in the market, and guess what they all have in common? Most of the available options offer B2C functionalities only. But the new big thing in e-commerce is the B2B segment, enabling services providers, manufacturing plants, resellers (and the whole supply chain for traditional B2C e-commerce) to be more connected with its clients. B2C and B2B e-commerce are fundamentally different: while B2C focuses on attracting as many audiences as possible, B2B e-commerce must provide a more personalized and restricted experience, since B2B sellers usually maintain different price lists, payment methods and purchasing quotas for different clients. Additionally, B2B e-commerce platforms must not be fully indexed by Google, because manufacturers and resellers usually do not want to expose the price to consumers (their client’s clients).
Raphael Traticoski, Founder and CEO GrowinCO
The next big thing is co-manufacturing. Faced with a 15% annual surge in production costs and a fragmented consumer landscape across niche markets, CPG giants across food, beverage, cosmetics, home care, and pet care are tapping into external idle manufacturing capacity to navigate dynamic market conditions. This trend, known as contract or co-manufacturing, also fuels the rise of digitally-native vertical brands (DNVBs) and empowers established brands to slash capital expenditure by 20% while responding to trends 40% quicker, squeezing waste and securing market share in a volatile landscape. The future of supply chains lies in embracing shared supply chain capabilities.
In new AI use cases…
João Ventura, Co-Founder and CEO SlingHub
The Next Big Thing in LatAm is the adoption of AI to build expert systems. Companies will start to use/train AI to build systems that will emulate the decision-making ability of a human expert (such as a doctor, for example).
Karina Tronkos, Founder and Creator "Nina Talks" (ig: @ninatalks)
The next big thing is the evolution of user experience design. AI introduces unparalleled advancements by fine-tuning personalization, forecasting user behaviors and automating tasks. Through the analytical lens of machine learning, designers gain deeper insights into user interactions, paving the way for more seamless and intuitive interfaces. The harmonious integration of AI and UXD is reshaping the future, promising a landscape where technology effortlessly adapts to individual preferences, marking a paradigm shift in user experience.
Marcelo Sakate, Brazil Editor-in-Chief da Bloomberg Línea
The next big thing is that in 2024 we should witness more integrated and multimodal use cases of Generative AI. In healthcare, for instance, the integrated use of generative AI in text, video, and image is expected to enable diagnostic and treatment recommendations for patients. This is a trend anticipated to emerge in other areas as well.
Matt Cole, CEO Suma
The next big thing will be the ascent of a new generation of professional service providers (accountants, lawyers, financial advisors) who are harnessing Generative AI to disrupt legacy incumbents, by offering customized solutions at scale to small business customers.
In society…
Bianca Sassoon, Partner 17Sigma.
The next big thing is that we should observe a heightened focus on innovative solutions related to the elderly population, particularly in the areas of health, long-term care, and predominantly, savings and pension plans, amid secular demographic trends. For the latter (pension plans), increasing financial inclusion and fostering a digitized economy will play a significant role and are expected to remain the primary subjects on our agendas, contributing to furthering our region's long-term growth and development.
Maria Helena Pessôa, Founder and Creative Director no MH Studios
The next big thing is moments and memories as the most valuable heritage. I am convinced that, despite our significant technological advancement and the sense of being 'close' to each other, even in the face of physical distance, we have never been so far and disconnected. It is precisely for this reason that I sense a yearning for more unique and memorable experiences, making room for emotions rather than possessions. It's a revival of close and, above all, affectionate relationships.
In startups…
Fran Garcia, VC Investor Bridge Capital e host "Levantando Podcast"
The next big thing in 2024 is Mexico. We already saw a wave of experienced entrepreneurs in Brazil, Colombia and Argentina (ex Nubank, ex Rappi, ex Mercado Libre). Mexico will start experiencing this phenomenon in 2024 where the early employees of the mexican unicorns will launch their own startups. Mexico will receive similar VC investment as Brazil.
Miguel Arias, General Partner, and Gustavo Ribas, Head of LatAm KFund
The next big thing in 2024 in Latam will be AI-based Software serving SMBs and mid-market in different verticals, from HR to Financial services.
SMBs will be able to leapfrog the adoption of vertical software tools, thanks to the application of AI to ease integration, onboarding and reduce the time to value creation.
In order to ensure faster distribution of those new startups in Europe and LATAM, corporates with strong SMBs customer bases will become strong allies. We strongly believe that LATAM entrepreneurs are ready to conquer Europe and not only look into pan-regional or US-centric plays.
And European entrepreneurs are showing that having more flexible offerings than their American counterparts is key to succeed in LATAM.
Rodrigo Fernandes, CFO Pingback
The next big thing is understanding where the true point of leverage of your startup is. In the past, the main point of leverage of a startup had always been the product itself. But nowadays this is not necessarily the case anymore.
Software development costs are decreasing, while customer acquisition costs are on the rise. Given these market shifts, it can be more cost-effective to start developing new products to leverage your existing customer base than acquiring new customers to leverage your existing product.
However, it's crucial to note that none of these strategies should be assumed without careful consideration. Before making any decision, you should analyze your unit economics and ensure a clear understanding of what best aligns with your specific situation.
In fintechs…
Arthur O'Keefe, Co-Founder and CEO Bamboo
The next big thing in Brazil's fintech landscape is the unbundling of investment banking. Driven by progressive regulations and cutting-edge platform technology, this shift from banks to data-centric AI-powered fintech platforms will revolutionize capital raising. It promises enhanced efficiency and transparency, democratizing access to capital for Brazilian businesses and fostering sector-wide growth.
Walter Pereira, founder of W Fintechs and Partner at Boyce Data.
The next big thing in fintech in LatAm in 2024 will revolve around the digitization of currency and tokenization. As more countries in the region adopt Real-Time Payment Systems, and as CBDCs progress, we will witness an economy that is increasingly tokenized, leading to enhanced efficiency in payments and contracts.
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Thanks,
Julia and Lucas