Pygma Company Profile

Background

Pygma is a Colombian startup accelerator established in 2021 through the merger of Buildup Camp, a startup academy based in the Netherlands, and Acanof, a data-driven accelerator from Latin America. The company is dedicated to accelerating the next generation of Latinx tech founders by providing comprehensive support during the early stages of their startups. Pygma's mission is to impact Latin America and Latinos globally through innovation and technology, fostering a global ecosystem where Latin tech founders can innovate and transform industries.

Key Strategic Focus

Pygma's strategic focus centers on empowering early-stage tech founders in Latin America and Europe. The company offers a 12-week accelerator program designed to provide the necessary support, knowledge, and community to help startups grow and scale. This program includes mentorship, networking opportunities, and resources tailored to the unique challenges faced by Latinx entrepreneurs. Pygma's approach combines the strengths of both an accelerator and a venture capital firm, aiming to create a world-class platform that not only accelerates startups but also provides the capital, resources, and network necessary for global scaling.

Financials and Funding

Since its inception, Pygma has raised $500,000 in early-stage venture capital funding. The company has attracted a diverse group of investors, including Acanof, Buildup Camp, Christian Knudsen, First Check Ventures, and Irie Investments. These funds are intended to support Pygma's accelerator programs, expand its reach into new markets, and enhance its offerings to early-stage tech founders.

Pipeline Development

Pygma has made several strategic investments and acquisitions to bolster its support for startups. Notable investments include:

Toperty: A real estate services company, invested in August 2022.

Scala: A private equity firm, acquired in July 2022.

Nippy: A business/productivity software company, invested in July 2022.

Refurbi: A specialty retail company, invested in June 2022.

Inditech: An information services company, participated in an accelerator/incubator program in June 2022.

These investments reflect Pygma's commitment to supporting a diverse range of industries and technologies within the startup ecosystem.

Technological Platform and Innovation

Pygma leverages a data-driven approach to support early-stage tech founders. By combining insights from its accelerator programs with proprietary technologies, Pygma offers tailored mentorship and resources. The company's platform includes:

Equity-Free Program: Launched in 2022, this program focuses on understanding founders' needs without requiring equity, laying the groundwork for deeper engagement.

1% Equity Program: Introduced in 2023, this program provides startups with access to valuable deal flow in Latin America, marking a significant shift towards partnership in the growth journey of Latinx founders.

Industry-Focused Program: Expanded in 2024, this program targets specific sectors, particularly in the U.S., solidifying Pygma's role as both an accelerator and a venture capital firm.

Leadership Team

Pygma's leadership team comprises experienced professionals dedicated to supporting tech founders:

Andrés Cano: Co-Founder, Chief Executive Officer, and Board Member. Andrés brings extensive experience in startup acceleration and venture capital.

Daniel Ospina: Co-Founder, Chief Investment Officer, and Board Member. Daniel specializes in investment strategies and portfolio management.

Yenni Peña: Chief Operating Officer. Yenni oversees the operational aspects of Pygma's programs and initiatives.

Emilia González: Legal Director. Emilia manages legal affairs, ensuring compliance and supporting startups with legal guidance.

Mishelle Ramírez: Investment Analyst. Mishelle focuses on evaluating potential investments and supporting portfolio companies.

Leadership Changes

As of March 2025, there have been no significant changes or appointments within Pygma's leadership team.

Competitor Profile

Market Insights and Dynamics

The startup accelerator market in Latin America is experiencing significant growth, driven by increasing entrepreneurial activity and investment in the tech sector. The region presents a burgeoning ecosystem with ample opportunities for accelerators to support and scale innovative startups.

Competitor Analysis

Pygma operates in a competitive landscape alongside several notable accelerators:

Rockstart: Based in Amsterdam, Netherlands, Rockstart is a private equity-backed accelerator supporting startups across various industries.

500 Global: Headquartered in Palo Alto, CA, 500 Global is a venture capital-backed accelerator with a global presence, offering programs for startups at different stages.

Latitude: Located in Barcelona, Spain, Latitude focuses on business and productivity software, providing resources and mentorship to early-stage companies.

These competitors offer similar services, including mentorship, funding, and networking opportunities, contributing to the dynamic and competitive nature of the startup accelerator market.

Strategic Collaborations and Partnerships

Pygma has established significant collaborations to strengthen its market position and expand its capabilities:

Buildup Camp: The merger with this Netherlands-based startup academy brought valuable expertise and resources to Pygma's programs.

Acanof: Partnering with this data-driven Latin American accelerator enhanced Pygma's ability to support startups with data-centric strategies.

Scala: The acquisition of this micro-fund provided additional capital and investment opportunities for Pygma's portfolio companies.

These partnerships have been instrumental in Pygma's evolution from a startup to a fully-fledged accelerator and venture capital firm.

Operational Insights

Pygma's strategic considerations include:

Market Position: By focusing on Latinx tech founders, Pygma addresses a niche market with significant growth potential, differentiating itself from competitors with a broader focus.

Competitive Advantages: Pygma's combination of accelerator and venture capital services, along with its equity-free and low-equity programs, offers a unique value proposition to early-stage startups.

Distinct Differentiators: The company's emphasis on understanding and addressing the specific needs of Latinx entrepreneurs sets it apart in the accelerator landscape.

Strategic Opportunities and Future Directions

Looking ahead, Pygma aims to:

Expand Reach: Continue its expansion into the U.S. market and other regions, offering sector-specific programs to attract a diverse range of startups.

Enhance Programs: Develop and refine its accelerator offerings to provide more tailored support, including industry-focused initiatives and advanced mentorship.

Strengthen Ecosystem: Build a robust global ecosystem that connects Latin tech founders with investors, mentors, and resources to drive innovation and industry transformation.