Latin America’s Top 5 Tech Hubs
Latin America is fast coming forward as one of the most exhilarating tech hubs all around the world. Even as the COVID-19 downturn has greatly made an impact on tech investment in the continent, the region’s entrepreneurial start-up communities are showing beyond doubt resilient in tough times.
Furthermore, recently, Latin America has set up itself as one of the world’s most confident sections for start-up activity and rapidly escalating tech talent. Over the past five years, investment involving Venture capital in Latin America’s tech hub tech has been on the increase progressively, doubling year on year since 2016 prior to reaching a marked high of $4.6bn (2019).
Let’s take a look at Latin America’s 5 most exhilarating tech hubs:
1. Sao Paulo
Sao Paulo, a dynamic city, is time and again referred to as Brazil’s modernization inspiration. Without a doubt, more than 60 percent of start-up investments are focused on Sao Paulo. The south-eastern megalopolis has a rich tech network well-supporting a noteworthy number of local entrepreneurs over and above holding more fintech start-ups in contrast to any other Latin American city. Many tech giants including Spotify, Uber, and Amazon have chosen this full-of-life city as their Latin American establishment.
2. Mexico City
The metropolis of Mexico City is rapidly setting up standing as one of the most hopeful tech hubs in Latin America. For scores of investors, Mexico is rather a doorway to the remaining part of Latin America. Spanish-speaking Mexico, in the intervening time, makes available the perfect entry point to the area’s emergent economies. Netflix, a well-known streaming giant and the big company has set up a local headquarters in Mexico City, resulting in boosting confidence in the city’s flourishing tech community.
3. Santiago de Chile
A slightly distant city, bordered by the Andean mountains, Santiago has long been a preferred destination for entrepreneurs. In 2010, the ‘Start-up Chile’ – a seed accelerator for small businesses was introduced by the Chilean government. The main aim was to make available equity-free investments for start-ups from all across the world. To date, this world-leading program has worked successfully with more than 1,500 start-ups from over 80 different nations.
4. Buenos Aires
Some of the most flourishing start-ups in Latin America have been established in the Argentine capital of Buenos Aires. The city boasts a dynamic and ever-increasing tech network, gaining standing as the continent’s topmost tech incubator. Mercado Libre, an E-commerce giant, time and again called Latin America’s Amazon – is without a doubt the city’s creditable success story; however, Buenos Aires is also setting up a name for itself as the region’s blockchain emerging spot.
In this day and age, Medellin can be linked with some much more optimistic adjectives: ground-breaking, open, and full of life. In 2019, China’s major tech companies, Tuya Smart and Huawei declared that they would be establishing bases in the city’s specially-developed innovation region. The Ruta N complex, boasting the basis of both these firms, is a co-working space intended to promote innovation and partnership between start-ups.