April 21, 2014
Miami-based startup Posto7 will be one of 25 startups participating in the sixth class of NXTP Labs, a Latin American seed investment fund with an accelerator program.
Posto7 is a mobile app that helps you share your favorite restaurants, hotels, and nightlife venues with your closest friends. The idea is that every recommendation on posto7 is relevant and reliable because it's shared with friends only, unlike existing recommendation apps like Yelp and Foursquare. Posto7 made the decision to move to Miami last year as they saw an opportunity in a growing ecosystem.
“Miami hit most of the major points, and given our focus on Latin America as a key, underserved market, it was a natural fit. The tech ecosystem here is growing rapidly, and with a cost of living much lower than that of SF or NYC, we have been able to keep our burn rate significantly lower,” says cofounder Patrick Curley.
Although they are based in Miami, Posto7 will be temporarily living in Buenos Aires to be part of the program, where they will have access to mentorship, office space, the region's innovative community, and funding. Curley recognizes that being part of the program is a great opportunity given that Latin America is a key region for them.
“We knew that linking up with the right partner in Latin America would be one of the keys to success for posto7. Since the program began, we have met with government officials helping shape policy regarding tech companies in Argentina and Buenos Aires,” says Curley.
NXTP Labs is the most active early-stage fund with an accelerator program in Latin America. Next month, they will be opening offices in San Francisco, California. Founder Gonzalo Costa recently visited Miami during Startup City Miami, where he spoke on a panel about the Latin American startup ecosystem.
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