If you are using poetry 1.2.x locally, you will get a build error on Render since the default version is 1.1.x as discussed in this thread. As a workaround I created a gist that fixes compatibility of the .lock file (it removes the setup tools elements), Hence, using the following build command,
curl https://gist.githubusercontent.com/emilhe/0c7b1a33b2d02f17331242bf4fffd07c/raw/8da0665a58f469c980e7661d7f8c36f3bd3af992/strip_setuptools.py | python - && poetry install
I am now able to use the .lock file generated with poetry version 1.2.x on Render. I am posting the workaround here, as I figure others might run into the same issue 