Petfly, Edtools, and Ymponente: The 3 Startup Winners of $30,000 at Five One Labs’ 2024 Demo Day in Barranquilla, Colombia
Barranquilla, September 25, 2024 – Five One Labs announced the winners of its 2024 Demo Day, where $30,000 in capital was awarded to support three outstanding ideas from its most recent incubation program, which featured 22 talented entrepreneurs from both Colombia and Venezuela. These entrepreneurs came from diverse sectors, including technology, sustainable fashion, pet care, and more, showcasing the breadth of innovation within the cohort: check their profiles here.
The program started with an intensive 3 month pre-incubation track, providing entrepreneurs with training sessions, one-on-one guidance, mentorship, access to industry experts, and tools to help launch their businesses. As the Demo Day came to a close, three startups were celebrated for their bold innovations and awarded seed funding to fuel their next stage. The top three winners included:
First Place: $15,000 USD
Petfly is revolutionizing pet nutrition with insect-based superfoods. Their protein, vitamin, and amino-acid-rich recipes are a nutritious and sustainable alternative to traditional proteins, as well as an alternative for pets with food sensitivities. With a carbon-positive, cruelty-free production process, Petfly ensures premium-quality food with a positive environmental impact.
“Winning the $15,000 grant is a dream come true and shows we’re on the right path to revolutionize sustainable pet nutrition. The amazing support from Five One Labs team has not only fueled our drive but also given us the confidence and tools to take our vision further than we ever thought possible. This achievement reflects our passion and strong commitment to making a real difference in the lives of our pets and building a better future for the planet. Join us to create a world full of Superpets!” - Alfonso Serje, PetFly co-founder.
Second Place: $10,000 USD
Edtools is a suite of tools that integrates Artificial Intelligence to reduce the workload of teachers, one of the professions most affected by burnout worldwide. Edtools aims to address the growing challenges in education and contribute with its value proposition to improving efficiency in academic environments.
“We are creating the essential educational tools for the era of artificial intelligence, enabling institutions to offer personalized experiences and helping teachers become more efficient. The boost from Five One Labs was the turning point we needed, providing us with the financial, human, and technical support to take our vision to the next level." - Andrés Salcedo, Edtools founder.
Third Place: $5,000 USD
Ymponente promotes diversity, inclusion, and intimate health, all with a strong commitment to sustainability. With a range of products designed to meet diverse needs, Ymponente breaks away from traditional beauty standards, empowering women through a more inclusive body image. Through its e-commerce platform led by a migrant female founder, the brand seeks to scale and reach more women, offering an alternative that celebrates authenticity and individuality.
“I am immensely grateful that Five One Labs came into my life. What was once a business idea in my mind is now a reality thanks to all the support they provided. I am thrilled to be building an impactful business with an inclusive vision." - Yoselyn Malpica, Ymponente founder.
Five One Labs has established itself as an incubator that fosters innovative businesses among both local and migrant entrepreneurs, driving business growth with an inclusive focus.
“Our Demo Day was a wonderful celebration of the diversity and innovation of the entrepreneurs in our incubator. We congratulate not only our seed funding winners but also all of the startups in the cohort who were so dedicated throughout the program. Five One Labs looks forward to supporting them as they continue to grow their businesses!”, said Patricia Letayf, Executive Director and co-founder of Five One Labs.
About Five One Labs:
Five One Labs is dedicated to supporting innovative and scalable startups that tackle significant challenges across diverse sectors. Focused on empowering local, displaced, conflict victims, and migrant entrepreneurs, the incubator provides resources, mentorship, and funding to help founders build sustainable businesses. Their programs are designed to inspire innovation, fuel economic growth, and create lasting social impact.
For media inquiries, please contact: Laura Perdomo at laura@fiveonelabs.org