Growsphere

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After several years in the restaurant startup scene with Pide Directo, Antonio decided to take another risk.

Seizing the nearshoring opportunity, he recently founded Growsphere, which helps companies strengthen their supply chain by moving their manufacturing to Mexico.

Let's dive in.

Explain it like I'm five

According to DENUE 2022 data, Mexico has over 608,484 manufacturers.

They represent nearly 18% of the GDP and are the primary exporting industry, with 87%. However, there is a significant gap in capacity mapping, digitalization, and accessibility.

Growsphere offers a platform that helps businesses source and manufacture products in Mexico.

• They ensure clear and effective communication between companies and Mexican manufacturers.

• They provide quality inspection services to guarantee the standards of manufactured products.

• They specialize in identifying and connecting businesses with leading manufacturing companies in Mexico.

Why is it interesting? Mexico became the top US trading partner in early 2023, with bilateral trade totaling $263 billion dollars during the first four months of this year.

Why are we watching? Mexican manufacturing companies can reduce production costs and shorten supply chains for US businesses. 

Additionally, finding proper manufacturers takes time, and we believe that Growsphere approach could help close that gap.

The ABCs

• Industry: Manufacturing

• Headquarters: Monterrey, Mexico

• Year Operations Started: 2024

• Team Size: 5

• Raised: Bootstrapped

• Business Model: Commission fees on orders

Background check

What we like:

• Vetted: Growsphere has worked with multiple manufacturers across industries, trying different companies to meet clients’ needs and expectations. According to the founder, their network of manufacturers is carefully vetted through an extensive due diligence process.

• Geopolitics: The ongoing commercial war between the US and China has been heating up. With elections around the corner, there is much uncertainty about new policies and tariffs that could be implemented.

• Time: Companies and entrepreneurs often spend months finding the proper manufacturer. Growsphere can simplify the process by making it easier to source and communicate with factories, saving businesses time and money.

Roadblocks:

• Focus: The manufacturing industry is huge, and for Growsphere to win, we believe it must narrow its focus to a single sector where it can truly establish itself as an “expert.”

• Quality: Exporting low-quality products to the US can ruin a company's reputation and brand. It could also lead to lawsuits from customers or government agencies. Since Growsphere acts as an intermediary, they'd probably be responsible for product problems.

• Certifications: Many Mexican manufacturing factories serve only the national market and lack specific certifications that prevent them from exporting to the US. Businesses can work with manufacturing companies to get the certifications, but it is a slow and expensive process.

The Architects

• Antonio Nacoud, Co-Founder.

• Kerim Taray, Co-Founder.

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LatAm Startup Office Spotlight

This week, Airbag gave us a sneak peek into its offices in Mexico City! They run a flexible hybrid model, allowing employees to work from home.

Airbag offers an app that analyzes scores and rewards safe driving habits through gamification, saves companies money, prevents road accidents, and improves driver loyalty.

Check them out here.

Last Startup Poll Results

Thanks for reading. That’s all from us today, see you soon!

—Manuel and Diego