Agtech Summit was held in Montevideo

As part of the Agtech program of NXTP Labs, and as a closing of the acceleration activities in Uruguay, the Agtech Summit was held in Montevideo.

Ciro Echesortu, Regional Director of Programs at NXTP Labs, was in charge of welcoming the atendees, thanking them for their presence for the second consecutive year and emphasizing the importance of the region’s startups participating in this meeting. As part of his opening remarks, he said: “the objective of these acceleration programs is to find high-impact entrepreneurs who can find innovative solutions for the agricultural sector”.

Subsequently, it was the turn of Francisco Coronel, co-founder of NXTP Labs, who stated the importance of generating a collaborative micro ecosystem around two objectives: that companies achieve greater growth in the market and that they obtain more investment to continue positioning themselves. “Return, impact and innovation are the long-term objectives of the fund. We have the concept of thinking big to continue growing. It has never been so inexpensive for an entrepreneur and investor to generate a digital platform to validate a business model. We can generate high-impact companies that grow and have the ability to scale globally,” he added.

Then the panel “Big Data in Agriculture: Present and Future” began. Speakers included Pablo Rodríguez (Agronóstico, Uruguay), Mariano Tamburrino (S4, Argentina), Diego Aguirre (IBM, Uruguay) and Victoria Alonsopérez (IEETech, Uruguay), with Pablo Garfinkel (Tokai Ventures, Urugay) as moderator.

The application of IA and Machine Learning to obtain results on current problems of producers and the main challenges of using Big Data to obtain benefits in agriculture were some of the main topics discussed by speakers during the panel. How to process geographic data in large volumes because there were not many solutions or a single platform was also one of the main topics of discussion. We are using the data to understand the state of crops in the service of producers,” they said.

After the panel was finished, the first stage of Pitch Competition began. It was presented to the jury, composed of Francisco Coronel from NXTP Labs, Ana Castillo from FOMIN and Pablo Garfinkel from Tokai Ventures, who were in charge of evaluating the startup projects according to the following criteria:
Opportunity: market size and growth, accessibility and competition.
Business model: scalability, sustainability and profitability.
Product: Differentiation and potential for disruption.
Traction: proof of concept, customers and product development to date.
Team: experience and market knowledge.
Pitch: effectiveness, information and duration.

Once all the startups had the opportunity to make their Pitch before the jury, the special Keynote was made by Maximiliano Landrein, CEO and founder of Agrofy – an agribusiness platform that seeks to connect producers and suppliers and simplify agricultural business through the Internet.

Once the keynote was finished, the jury announced to the attendees the two winning startups: Rizoma and Drone UY. Both won a place at the Agtech Conference, to be held on November 17 at the Ministry of Science and Technology (MINCYT) in Buenos Aires. The meeting ended with a networking stage in which the attendees could meet each other and exchange ideas and opinions.

Agtech Summit