“From an incubation standpoint, Toronto and Canada in itself, it’s an enabling environment for startup ecosystems to thrive.”
Steve Ishiguzo, Co-Founder and COO of Inventri
Efficient inventory management is pivotal to retail success. As cloud-based inventory management solutions rise to the forefront, they’re revolutionizing the retail landscape, enhancing operational flow, cash movement, and profit margins. At the heart of this transformation is Inventri, dedicated to amplifying profitability for Canadian retailers with its cutting-edge software.
Inventri empowers retailers to master their inventory challenges. By employing Machine Learning, it crafts purchase orders considering depletion trends, seasonal shifts, weather variables, and other influencing factors. Following this system’s guidance ensures retailers stock precisely what their clientele demands, when they need it, and in optimal quantities. This precision mitigates overstock risks and diminishes chances of product spoilage or damage.
Behind this innovation are two visionaries from Nigeria: Steve and his Co-Founder and CEO, Timothy. Recognizing the global potential of their solution, they set their sights on Canada. Validating their business hunch with LatAm Startups proved insightful. “…it was a no brainer for us, particularly because it also had other additional benefits, like your families can emigrate or immigrate”, says Steve. Discussing their decision to tap into the Startup Visa Path via LatAm Startups, he emphasizes the clarity and predictability of the process: “LatAm Startups came out top as a little more predictive (option) than the other ones, and the process was clearly spelt out”
One of the most invaluable resources LatAm Startups extended to Inventri was access to a diverse pool of industry experts. “…that ecosystem helps you to get fractional CEOs or CTOs or CFOs. You get mentors in every field, you have advisors, you have a technical board that is able to support your business”.
For Steve, this overarching support was invaluable. While Inventri had already established a promising footing with sales in Nigeria, venturing into Canada was akin to starting anew. This successful transition was largely made possible due to the integral support from LatAm Startups.
It’s noteworthy to highlight that the City of Toronto’s backing has enabled LatAm Startups to extend such enriching programs to Inventri and other promising startups in their fold.
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