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Startup Opportunities in Latin America

Startup Opportunities in Latin America

Posted by PanamericanWorld on June 30, 2015

Strong startup culture and opportunity can be always found in places like Silicon Valley, London and Austin, Texas, but the landscape is beginning to change. Latin American cities and consumers are gaining international attention for their new appetite when it comes to business and technological developments.

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.” In some South American governments, like Brazil, programs are being implemented to facilitate successful ventures and encourage citizens by offering incentives.

Brazil, with its population of approximately 11 million people, has become a strong proponent in Latin American fine arts, commerce, finance, and entertainment industries; becoming a startup hub for the tech market is the next logical step for the country to make an impact.

Entrepreneurs all over Latin America are rising to take advantage and benefit from well-funded programs and networking opportunities. Here are some of the best areas in Latin America to invest in a startup:

Colombia

According to a new study that compares startup activity and attitudes in 44 countries across the globe, Colombia emerged as a strong leader in entrepreneurship and investment opportunity.

Colombia scored very high on three measures: the share of the working-age population engaged in early-stage entrepreneurial activity; the portion of entrepreneurs who expect to create 20 or more jobs in the next five years; and the share of entrepreneurs who say they are offering innovative products or services.

Chile

Due to its recent emergence as technological hub, Santiago, Chile has been dubbed “Chilecon Valley.”

Chile’s government hosts a program called Start-Up Chile that offers entrepreneurs—both Chilean citizens and other residents—a sum of roughly $33,000 in capital. In exchange, the entrepreneurs are required to organize and participate in workshops and conferences designed to foster entrepreneurship opportunity. Recently, more than 1,000 startups from 75 counties have been selected to participate in the program, including mobile- and Web-based tech companies.

Mexico

Mexico, the second-largest economy in Latin America, is quickly becoming a startup force to be reckoned with. From Mexico City to Monterrey, entrepreneurial opportunities are emerging with the support of the Mexican government and local organizations.

The Mexican government is expected to spend around $600 million in funding towards entrepreneurial opportunities with the creation of INADEM (National Entrepreneurs’ Institute) through 2018. 

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