Papaya Ventures is about to release its first batch of startups out into the wild. Next Thursday, June 13th, the Brazilian accelerator will host its first official Demo Day in Rio de Janeiro.
With the theme Mobile First, Papaya’s first acceleration program included four startups: Buus, Dujour, u.sit and Boosk. Though each deals with very different industries and potential clients, they are all aligned with the single-function app focus laid out by Papaya at the outset of the process.
Papaya Ventures opened its doors last year and announced the selection of its first group of projects in October. In February, Papaya hosted a launch event, a networking opportunity and happy hour to get the ball rolling in spreading the word about its startups. And in March, it followed up with a special session for angel investors, resulting in US$155,000 in funding. Now, with Demo Day, its startups are set to go.
Luisa Ribeiro, Managing Partner at Papaya Ventures, emphasized that Demo Day will be a results-focused event:
For Demo Day, what we really want to show are pitches from our startups focused on the results that they have achieved during the acceleration program. We’re not just putting on a cool event with well-rehearsed pitches that lack results. Ideally, it will be an objective event that will give investors an opportunity to evaluate the startups based on qualitative but also quantitative data. We think that each startup should be measured based on the strength of the product as indicated by concrete results.
Moving past acceleration with Papaya, it will be up to the startups themselves to grow their businesses, expand their markets and garner the capital necessary to continue. The Papaya team is optimistic about the prospects. Ribeiro remarked:
Given the positive outcome from our Angel Day, we’re expecting a strong investor interest in each company. We have been pleasantly surprised with the drive and focus of the teams during the acceleration program, and we’re very optimistic. Our startups have all worked extremely hard, and we think that their determination will pay off in the near future.
The Papaya Ventures Demo Day will take place at the Centro Empresarial do Mourisco in Rio de Janeiro next Thursday. The event is supported by Qualcomm, which recently reached a partnership agreement with Papaya. Qualcomm will also support Papaya’s second class of startups, the search for which is underway now.
Register to attend Papaya Ventures’ first Demo Day here. You can also find out more about Papaya – including how to participate in its second acceleration program and its involvement in Start-Up Brasil – on the organization’s website.