Mexican startup Yumari wins Arabian World Championship

The startup Yumari has won first place in the Early Stage category in the global finals of the 2024 Entrepreneurship World Cup (EWC) in Riyadh, Saudi Arabia.

Yumari is an integrated B2B sales platform that offers a supplier search algorithm, tax calculation, and real-time logistics, among other features.

This is the first time that a Latin American company has achieved this distinction in the international entrepreneurship competition.

The startup was accelerated by incMTY, a Tec de Monterrey platform to foster moments of collaboration, knowledge exchange, and creation of investment and business opportunities through the following strategic courses of action:

• Open Innovation
• High-impact events: incMTY Summit and incMTY Festival
• Technology and Talent Fair: Future Now and Ecosystem Development

During the incMTY entrepreneurship festival, held November 14-16, 2023, four startups were selected to attend the Entrepreneurship World Cup in Saudi Arabia, Yumari being one of them.

These four startups won the 2023 edition of INC Accelerator, one of INCmty’s challenges.

Forma Foods, Beeok, Yumari , and Grow Farms secured their places in an international boot camp on the road to the Entrepreneurship World Cup.

These startups participated in incMTY Accelerator + Entrepreneurship World Cup Mexico, an innovative program for the best startups launched in Latin America that offers acceleration, outreach, and mentoring tools.

Yumari was then ranked in the top 250 and later in the top 100 to travel to the competition in Saudi Arabia.

After five days of competition, Yumari won first place in the Early Stage category and received 1 million dollars in prize money.

Andrés Díaz Bedolla, co-founder and CEO of Yumari, said that this achievement reaffirms his company’s global vision:

“It’s an honor to win first place. At Yumari, we are building a solution that simplifies the supply chain by using artificial intelligence and proprietary data to connect companies with the most suitable vendors in their region.”

Other Mexican startups accelerated by incMTY advanced in this edition of the EWC. For example, Grow Farmsreached the final stage of its category, and Forma Foods was in the preliminaries.

incMTY’s support

IncMTY aspires to be the hub for business, innovation, and sustainability in Latin America through various initiatives, such as the following:

• Twelve months of guidance through mentoring and investor outreach.
• Exposure through the incMTY festival.
• Training, free resources, and a global network of mentors.
• It also provides 100,000 Mexican pesos in kind and a direct pass to participate as Latin American representatives in two of the world’s most important global entrepreneurship competitions: Extreme Tech Challenge and the Entrepreneurship World Cup.

{"preview_thumbnail":"/sites/default/files/styles/video_embed_wysiwyg_preview/public/video_thumbnails/D00fkYpQR8o.jpg.webp?itok=KEWFQNOy","video_url":"https://www.youtube.com/watch?v=D00fkYpQR8o","settings":{"responsive":1,"width":"854","height":"480","autoplay":0},"settings_summary":["Embedded Video (Adaptable)."]}

About the 2024 Entrepreneurship World Cup

The EWC is organized by the Global Entrepreneurship Network and Monsha’at (the Small and Medium Enterprises General Authority in Saudi Arabia).

This is one of the world’s most important pitching competitions, where thousands of startups compete for visibility and cash prizes of up to one million dollars every year.

Tecnológico de Monterrey and incMTY are strategic partners of the Entrepreneurship World Cup.

This World Cup included categories such as Idea, Early Stage and Growth Stage.

Startup Nomiq (Armenia), won in the Idea category. This company offers a low-code, artificial intelligence-driven platform that revolutionizes software development by leveraging domain-driven design (DDD) principles.

Startup MisMar (Saudi Arabia) won the Growth Stage category. This automotive technology venture aims to transform the automotive aftermarket.

“(At incMTY), we connect innovation and talent with investment,” said Rogelio de los Santos, President of incMTY, previously.

Since its launch in 2019, the competition has attracted more than 430,000 entries from 200 countries and has connected founders with more than 5 million dollars in cash prizes and another 266 million dollars in free services and support.

The competition is supported by more than 100 partners around the world.

In the 2024 edition, of the more than 16,400 startups from 150 countries that participated, only 100 made it to the finals after months of national and regional competitions, training, and intensive preparation sessions.

READ MORE: