Why Startups Are Coming To Latin America
The world is currently experiencing a general boom of startups. There are small businesses sprucing up in literally every part of the world at a fast pace more than ever before. One of the places where this situation is all too relevant is in Latin America. Virtually every single Latin American country has experienced an accelerated growth of startups in recent years.
There are many reasons why startups are moving to Latin America in droves. One of the key reasons is the availability of funding and general support for startups among the local populations. Governments have also been instrumental to the growth of startups as they have created a great environment that supports business accelerators. In a region where countless accelerators can now be identified, the following three are the most visible.
This seed accelerator is one of the well-known startup champions in Chile. The accelerator is a project of the Government of Chile and it has a great footprint in the industry. It was started in 2010 and it has since then inspired so many other countries around the world to have similar projects. Many startups have seen their success due to the work of Start-Up Chile.
The accelerator is not only focused on the Chilean market but also on the whole of Latin America. While the Chile office is the most active and grandest of all, the work of Start-Up Chile can also be seen in neighboring countries albeit on a smaller scale. In terms of figures, around $45,000 USD is offered as part of equity funding to startups.
In neighboring Argentina is the IncuBAte is the leading incubator for both local and foreign startups. The country has been through tumultuous times in recent decades but that has not stopped it from having its business-minded approach in all affairs. Today, the country hosts one of the largest startups in Latin America and all these have been as a result of the commitment by the government.
There are many services provided by IncuBAte including financial assistance, advice, and workspace for everyone who ventures into the market of Buenos Aires. The city itself has many accolades in addition to the great natural atmosphere that is prominent throughout the year. Entrepreneurship has been considered a priority by the city's authorities and this is evident in the many business-friendly policies that the officials have adopted.
Puerto Rico is not particularly known for its innovativeness. The country has gone through several natural and economic disasters that have left it devastated. The country, however, has a great commitment in the area of investment and this has led it to establish Parallel18. The seriousness of the government has been visible through the benefits that the government offers.
Anybody interested in starting up a venture in the country can access mentorship, consulting, up to $40,000 USD in funding among various other benefits. The great gesture by the government has definitely drawn in serious startups and there are currently over 30 startups doing business from Puerto Rico. A particularly successful example is Abartys Health, which is already accolades for its work in the health sector.
Abartys Health is doing a great job of showing the world how the Puerto Rican environment is great for startups. It is also having a significant impact on supporting the rise of the Puerto Rican economy from the shambles. Experts have consistently insisted that startups are not just a necessity for the innovative industry in Puerto Rico. Instead, startups are a necessity and the lifeline that the country desperately needs to get out of the worrisome economic times.
Most South American nations and their cities are widely known for their impressive weather. The countries are thus a magnet for tourists from all around the world. While these qualities are enough to attract investment, the surety that the regulatory environment offers is also commendable. Most governments in this region have been at the forefront of creating a suitable environment for investment.
The region has also seen a huge rise in investments within the past few years. There is, therefore, a great air of entrepreneurship that will be great for any startups venturing into the region. Countries in other parts of the world that have been known to be great hubs for investment are definitely getting significant competition from Latin America.
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