Innovation in Mexico
As an up-and-coming hub for innovation internationally, Mexico’s start-up ecosystem is undergoing great change. GC talks to some of the actors about the journey so far, with a focus on what lies between Mexico and the realisation of its entrepreneurial potential.
On the international stage, Mexico is known for many things – stunning mountain ranges, distinctive folk art, white sand beaches, and well-exported tradition. Now, another distinction is emerging from the Latin American country: one of entrepreneurship and innovation. According to a survey conducted by the Association for Private Capital Investment in Latin America (LAVCA) in 2019, Mexico accounts for the second-highest proportion of Latin America’s start-ups, second only to Brazil.
With this renown comes investment; money poured from around the world into companies of Mexican origin – so much so that, in 2015, Mexico actually overtook Brazil, becoming the most popular destination for private equity vehicles in Latin America, reaching USD$2.1bn in raised capital, according to the Emerging Market Private Equity Association (EMPEA).
