Despite the COVID-19 pandemic affecting the investment flow into Latin America, the region has become a hotbed for tech talent. Vibrant startup cultures, from Brazil to Mexico, have demonstrated extraordinary adaptability and tenacity in the face of severe adversities.
Sao Paolo
Sao Paulo, Brazil’s tech hub, is attracting global funding. Almost 60% of Brazilian startup investments are in this city. The southeast megalopolis has more emerging businesses and “unicorns” than any other Latin American city. Thus, Amazon, Uber, and Spotify chose the city as their Latin American headquarters.
Mexico City
Mexico City, which has some 21 million residents, is becoming one of Latin America’s most promising innovation hubs. Netflix recently opened its regional offices here.
Santiago
The Chilean capital is also called “Chilecon Valley”. The Chilean government launched the “Start-up Chile” seed accelerator for small businesses in 2010, offering equity-free funding to international startups. The initiative has helped over 1,500 startups from 80 countries. The 2020 Global Entrepreneurship Index rates the nation as Latin America’s top entrepreneur.
Buenos Aires
Buenos Aires’ biggest success story is Mercado Libre, the Amazon of Latin America. The city is also becoming a blockchain hub, with the number of Argentinian blockchain and cryptocurrency startups expanding by 10% in 2019.
Medellin
Colombia’s second-largest city has a booming IT scene. Since 1988, when Time magazine called it “the world’s most dangerous city,” the city has been trying to redefine itself. Huawei and Tuya Smart, two of China’s leading digital businesses, established facilities here in 2019. Both enterprises will be headquartered at Ruta N, a co-working environment encouraging startup innovation and collaboration.