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Are Silicon Valleys Popping Up in Latin America?

Are Silicon Valleys Popping Up in Latin America?

Posted by PanamericanWorld on June 11, 2015

Tiago Gavinhos is Portuguese, lives and works in Brazil and can be seen at tech conferences in the US.

He knows tech — on a global scale. How does he view the state of technology companies in his current area?

“There's definitely a tech boom in Brazil, and in several different areas,” said Gavinhos, the CEO of Vilt, a Sao Paolo, Brazil-based global IT company focusing in Enterprise Content Management (ECM). “Brazil has already 110 million people connected to the internet and growing. I'd say that there's a boom in tech in general in Brazil, with particular focus on digital transformation. CIOs are realizing that they need different business models to succeed in this hyper-connected market.”

Numbers Favor Growth

Gavinhos is not the only one excited about tech in Latin America.

IMS Internet Media Services (IMS), a Miami- and Latin America-based digital marketing and communications company, reported “Latino Silicon Valleys are popping up all around the region.”

How so?

  • Latin America shows an “exceptional proclivity” to digital media, according to IMS officials. Its study revealed that the new Latin American consumer is “hyper-connected, dominates technology and is highly influenced by social media.”
  • Some other IMS report figures:
  • More than nine in 10 online Latin Americans own or use a mobile device on a regular basis
  • Smartphone users in Latin America have downloaded an average of 18 apps on their devices
  • More than 60 percent of the mobile users of each specific apps such as Twitter, LinkedIn, Spotify and Waze consider they are important in day-to-day life
  • Latin America has 95 percent social media penetration
  • The online audience in Latin America is young, with more than half of the audience under the age of 35
  • The Latin American consumer seeks a more direct relationship with brands through apps
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