The number of entrepreneurs with new ideas that can change our country increases every day, that is why today we have the great opportunity to make Mexico a global economic power, to achieve this we must encourage the creation of new companies by supporting and financing the new entrepreneurs
Mexico is the second largest economy in Latin America and is becoming the last mecca of technological start-up.
Mexico is quickly positioning itself on the map as a technology incubator. It has been boosted thanks to the telecommunications reform that opened the market. This has caused smartphone sales and the demand for Internet access to explode to create a new digital economy.
Mexico has a population of more than 122 million people, most interested in technology. Therefore, it is not surprising that, from Mexico City to Tijuana, there are groups of technology entrepreneurs looking to design the next largest mobile application, the most innovative device and the best Internet platform.
It is estimated that about 63% of people in Mexico own at least one mobile phone. While this penetration has peaked given economic development and disposable income, there is continued growth in smartphones, and users are looking for more advanced Internet-enabled devices.
Mexico’s telecommunications reforms introduced more competition and created investment opportunities for foreign countries, creating a more dynamic environment for new businesses. A measure that is invested more in the mobile infrastructure, we will see greater bandwidth and speed, which are also drivers of innovation.
The location of Mexico is the key
Mexico is well-placed for a newly created center such as San Francisco and Silicon Valley and there are several organizations that allow emerging US companies and Mexico work together.
Tijuana on the border with the United States is seeking to reinvent itself. Projects are opening up throughout the city to nurture technological talent.
Mexico is doing much better at attracting IT investments than many assume. Some sponsors have seen an early opportunity and suddenly the country has become a very striking gamble.
Government support for Startups in Mexico
At the same time, the Mexican government has been working to push the region as a business space. It has reformed laws to provide tax incentives to foreign investment firms in a variety of industries, including technology, and is expected to spend $18 billion dollars in business project funds through 2018.
Mexico also has free trade agreements with 44 countries. To put this into perspective, the US has free trade agreements with 20 countries. At the same time, Mexico is one of the most competitive countries in the world for production and export. The next piece in the puzzle is innovation.
All of these startups require skills, and in this area, Mexico is not short. According to the World Economic Forum, Mexico produces 113,944 engineering graduates a year. These graduates seek to build a future for themselves and their country.
Work has begun to create a sustainable start-up technology community in Mexico. Now all of Mexico needs to be a success story to generate capital and influence to increase investment.