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Uruguay — best known for its art deco buildings and many steakhouses — will now add leading tech hub to its many great titles.
Sinergia Tech raised $500,000 to launch the very first hardware accelerator in Latin America. The firm, known for its technological development, digital fabrication, and prototyping laboratory, can offer a unique environment for aspiring hardware startups.
See also: Readwrite Labs launching their new incubation program
The accelerator, based in Montevideo, Uruguay, plans to fund close to 500 tech startups with a focus on IoT, smart cities, smart agriculture and smart hemp. The chosen startups will receive investment sizes of between $25,000 to $100,000.
Montevideo is looking to position itself as a melting pot for tech leadership due to its highly sought-after tech talent, free exchange market and a stable social, legal and political environment.
First cohort will have 20 startups
Sinergia Tech will be selecting 20 startup finalists into the first batch, with a goal of choosing 5 winners to continue the program and assist with international growth. A network of 15 local mentors, as well as more than 80 international profiles, will form a support network to assist the startups. The mentorship of these startups will include personalized feedback, and a tailored approach based on the needs of each team.
The startups chosen to participate in the accelerator will have access to state of the art equipment — such as a laser cutter, 3D printers, CNC router, circuit printer, cut plotters, and traditional tools. Moreover, startup teams will also have access to robotics and electronics gear.
The goal of Sinergia Tech, aside from creating a hardware accelerator to assist entrepreneurs and startup teams within the hardware space; is to empower young men and women by helping them achieve their dreams. By doing so, Sinergia Tech hopes to motivate and inspire others to take up the entrepreneurial journey.
Entrepreneurs and startup teams requiring more information should visit Sinergia’s website.
