10 Startups In Ecuador To Watch In 2024

Ecuador is a hub of innovation and entrepreneurship.

From AI to e-commerce, and from EdTech to AgriTech, Ecuadorian startups are making waves. Here, we partner with Ecuadorian Impact Investor and General Partner at IMPAQTO Capital Michelle Arevalo-Carpenter, to spotlight ten startups that are setting the pace for a promising future in 2024.

Commenting on the roundup, Michelle Arevalo-Carpenter said “It’s tempting to dismiss Ecuador due to its changing political and security context – yet, upon taking a second look, the start-up scene is made of the most resilient, focused, scalable minds around.

“In Ecuador, like in other places that present challenging terrain, entrepreneurs, ecosystem-builders and investors are constantly navigating the art of the possible and have the adaptability muscle well-developed. This is why Ecuador start-ups tend to scale well into other markets.”

Let’s dive in…

1. Altscore – B2B Lending Software

Altscore delivers an all in one lending platform allowing companies to offer loans to their customers and suppliers, all through a simple API.

Alongside offering digital credit products, companies are also able to leverage Altscore’s AI to make smarter, more insight driven decisions.

Altscore’s API allows lenders, SaaS companies and retailers to create credit products quickly and efficiently.

2. Agrizon – Agricultural Supplies Online

Agrizon is changing the way agricultural supplies are purchased and sold in Latin America.

By creating an online marketplace, they connect farmers directly with consumers, offering a wide range of products from fertilizers to seeds. This direct connection not only improves access to supplies but allows farmers to receive a larger chunk of the income.

3. Databits – Developing Tech Talent

Databits is at the forefront of business education, helping upskill people in digital skills.

The company’s online academy specialises in data science and big data, designed to train both individuals and companies as a whole. Databits believes that people are at the forefront of the AI revolution, and with the right training, they can help propel their companies towards a more successful future.

4. Reliv – Simplifying Healthcare

Reliv is a pioneer in the HealthTech space, having created the first digital medical platform in Ecuador.

The company’s mission is to make healthcare simpler and more agile, through facilitating tech-led connections between patients and professionals.

The company has over 1,800 doctors on its platform, delivering 40,000 monthly appointments. Through Tech, Reliv aims to make healthcare more accessible to everyone.

5. Taxo – Tax Services Simplified

Taxo is making tax compliance simple with their user-friendly platform. Through their software, users can manage their client’s taxes efficiently and accurately.

Taxo’s services include everything from tax calculation to filing, all designed to minimise errors and maximise output.

In a world where tax laws are constantly changing, Taxo is a reliable partner for staying up to date and in line with legal requirements.

6. Storybook – Interactive Children’s Bedtime Routines

Storybook is changing children’s bedtime in Ecuador by bringing it into the digital age.

Their app offers a library of interactive stories, as well as meditations, affirmations and advice that help parents optimise their children’s bedtime routing.

Their library of resources allows parents to create a routine that helps children relax, connect and get ready for a good night’s sleep.

7. Picker – Fast Deliveries

Picker is transforming the online shopping experience by connecting businesses to delivery drivers, and fast.

The platform allows consumers to access goods quickly, whilst also allowing businesses to accept and make shipments instantly. Picker boasts an impressing 30 minute delivery time for goods, allowing businesses to sell and delivery quickly and efficiently.

8. Aerialoop – Drone Delivery Innovations

Aerialoop is leading the charge in drone delivery services in Ecuador, offering a fast, efficient, and eco-friendly alternative to traditional delivery methods.

Their technology is designed to navigate complex urban environments – commonly associated with Ecuadorian cities – making it possible to deliver goods quickly.

As e-commerce continues to grow, Aerialoop’s approach to delivery logistics is setting a new standard in Ecuador.

9. Kriptos – Online Filing Solutions

In the digital age, people have thousands of files on their computer. However, a huge risk associated with this is security. Kriptos is leading the charge in digital file organisation with their AI, which automatically organises and classifies data like word docs, PDFs and excel documents.

Once the documents are classified by their content sensitivity, Kriptos helps them develop a cybersecurity strategy, helping them protect the files most at risk.

10. Idukay – Educational Management Software

Idukay is enhancing the educational sector with its comprehensive management software.

Designed for schools and K12 educational institutions, their platform streamlines administrative tasks, improves communication, and facilitates the learning process.

Idukay’s commitment to improving education through tech is making a significant impact on the way institutions operate, helping students learn in an organised environment.

As we look towards the future, these ten startups represent the innovative spirit and entrepreneurial drive of Ecuador. Each, in its unique way, is contributing to the country’s digital transformation, promising a brighter, more technologically advanced future. Keep an eye on these startups as they continue to make a name for themselves on the global stage.