Facebook and MassChallenge México look for startups with technological solutions with social impact

Facebook and MassChallenge México look for startups with technological solutions with social impact

On May 3, Facebook and the accelerator MassChallenge México launched the Startup Hub CDMX program, to support a dozen Mexican startups with high potential for social impact .

Startups with technological solutions of social impact, objective of this search

The social network and the accelerator would support companies with a focus on the use of open data and the creation of solutions to close the digital talent gap.

The selected startups will receive support to develop and strengthen solutions that are aligned with their business model.

Facebook will provide technical assistance , mentoring training in the use of Facebook developer tools , as well as free access to tools and services from dozens of top-tier partners, among other benefits.

MassChallenge México will take the participating startups to the next level through the design of a program based on sprints, which involves creating solutions in short periods of time and approaching the end user to obtain their feedback, thus adapting the business quickly and continuously.

The program also includes consultancies by various mentors , a workspace, workshops on multiple topics and access to the wide network of experts, investors and companies allied with MassChallenge México .

Startup Hub CDMX, opportunity for new and innovative companies

This time, the CDMX Startup Hub looks for startups that are generating solutions and providing education services for talent , with the aim of helping to close the existing skills gap in the digital economy.

It also seeks to identify startups that work on the use of open data for the common good , generating safer, more productive or healthier communities.

The criteria for the selection of startups that will enter the program include, among others:

• Business model feasibility assessment

• Potential to solve a social challenge

• Ability to integrate Facebook tools into your business model

• Previous trajectory of the startup.

Facebook and MassChallenge Mexico joined forces for the first time in 2017 , helping to accelerate six startups.

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Facebook and MassChallenge México look for startups with technological solutions with social impact

The participants of the first edition received a bootcamp focused on solutions for the most vulnerable sectors.

One of the startups accelerated in the first edition of the Startup Hub CDMX was Sistema BioBolsa, a company that transforms animal manure into biogas and a powerful and natural fertilizer.

“ We were able to understand how necessary it was to have our own online platform to communicate with each other and with our multiple stakeholders. We also understood how to manage the user experience. In the long term, it allowed us to have a better understanding of how to increase our acquisition, retention and conversion rates, ”said Alex Eaton, CEO of Sistema BioBolsa.

Mexico has one of the highest business creation rates among the countries of the Organization for Economic Cooperation and Development (OECD).

SMEs represent 99.8% of companies in Mexico and generate 72.3% of the sources of employment in the country.

" Even when the goals of entrepreneurship in Mexico are positive , this has not affected the same proportion in benefits and opportunities for the most vulnerable segment of our society," said Alonso Fernández, manager of Strategic Alliances for Facebook.

" Creative and innovative companies have great potential to transform the lives of all people, that is why we want to support Mexican entrepreneurs seeking to solve local problems."

" MassChallenge México plays a fundamental role in supporting and consolidating new business models through startups that are scalable and that generate solutions to common problems to improve talent and encourage the use of open data for the common good in Mexico", Camila Lecaros, General Director of MassChallenge México said.

" Helping startups with high impact potential involves building capacities and doing everything humanly possible to get them to the next level."

The reception of applications will be open from May 3 to June 1. The companies will be selected by a panel of experts and will be announced in July.

Last updated:7/15/2020 3:47:20 AM
Francoise Dieudonne

Francoise Dieudonne

On May 3, Facebook and the accelerator MassChallenge México launched the Startup Hub CDMX program, to support a dozen Mexican startups with high potential for social impact .

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