Why Mexico is ripe for a start-up boom

6/20/2017 Financial Times

businessThe country’s creative class is expanding rapidly and the new generation is full of individuals not afraid to take risks.

If you walk through the streets of Mexico City’s hipster neighbourhoods of Condesa or Roma, you are almost certain to bump into an aspiring entrepreneur. The entrepreneurial wave has hit Mexico hard and seems to be gaining momentum rapidly. A new generation of millennials and post-millennials, led by a group of entrepreneurs in their late 30s to early 50s, is starting to believe you can change the world by creating new and better solutions to everyday problems.

The phenomenon is manifesting everywhere, not just in Mexico City and not just in Mexico. Cities in Latin America, Asia, Africa and Europe that would not typically be considered innovation hubs are witnessing an entrepreneurial fever at all levels of society, government, industry and academia.

But Mexico is particularly ripe for this change. The country is macroeconomically stable and enjoys a good relationship with most nations in the world. It is second highest among 140 countries in the Happy Planet Index, a measure of human wellbeing and environmental impact devised by the UK think-tank New Economics Foundation.

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