The recent GLOCAL Game Changers pitch day has spotlighted the transformative potential of artificial intelligence, data science, and fintech in Latin America’s agrifoodtech sector. GLOCAL, a Latin America-based agrifoodtech acceleration and investment fund recognized as a certified B Corp, hosted this annual competition aimed at fostering innovation and collaboration between startups and established corporations. This initiative is particularly timely, as the region grapples with pressing challenges such as food security and climate change, and seeks to position itself as a global hub for agrifoodtech innovation.
From a competitive pool of over 500 applicants, two standout winners emerged: Calice from Argentina and Blooms from Mexico. Calice harnesses the power of AI and data science to enhance the characterization and commercialization of new crop varieties. Their innovative system can analyze and integrate millions of data points, significantly reducing the time and financial investment required to bring new crops to market, while simultaneously increasing the success rates of these new varieties. Meanwhile, Blooms offers an all-in-one financial platform designed to streamline access to capital and facilitate payment processes within the fresh produce industry.
GLOCAL’s decision to select these two companies was based not only on their technological advancements but also on their potential to instigate systemic change within the agrifoodtech landscape of Latin America. “It’s promising to see entrepreneurs not only building good solutions but also understanding market needs and translating that future into concrete, scalable solutions today,” remarked Florencia Solari, the event’s host and an investment officer at GLOCAL LatAm.
Latin America is one of the most biodiverse regions globally, endowed with abundant natural resources and farmland. However, smallholder farmers in the region frequently contend with inefficient supply chains, limited access to financing, and challenges in adopting innovative technologies that could ease their operational burdens. The emergence of startups like Calice and Blooms signals a shift towards addressing these critical issues, offering new tools and approaches that can empower farmers and enhance productivity.
GLOCAL’s portfolio reflects this growing trend, supporting companies such as Agrofy, a marketplace platform for agribusiness; Kilimo, which focuses on water conservation; and Puna Bio, a company specializing in biological products. “Seeing entrepreneurs with clear and impactful solutions is the first big step toward widespread adoption of agrifoodtech technologies. The future is promising if we keep moving in this direction,” stated Bernardo Milesy, GLOCAL LatAm’s Managing Partner.
The Game Changers program not only provides a platform for startups to showcase their innovations but also connects them with experts, mentors, and potential advisors. This support system enables participants to access investment opportunities of up to $500,000. The 2024 finalists represented a diverse array of focus areas, including gene editing, biotech, climate tech, precision farming, and agricultural insurance, illustrating the breadth of innovation emerging from the region.
Martín Burlo, corporate venturing director at Surcos and one of the judges for the Game Changers competition, expressed enthusiasm for the caliber of proposals presented. “It’s amazing to see such well-developed proposals and entrepreneurial spirit in LatAm’s Agrifoodtech space,” he noted. “GLOCAL’s meticulous curation has brought us here, creating a platform where these startups can truly shine and showcase their potential.”
As Latin America continues to confront the dual challenges of food insecurity and environmental sustainability, the innovations emerging from initiatives like GLOCAL’s Game Changers competition could play a pivotal role in reshaping the agrifood landscape. The commitment of entrepreneurs to develop impactful solutions not only addresses immediate needs but also lays the groundwork for a more resilient and sustainable agricultural future in the region.