Why Mexico Is an ‘Undiscovered Opportunity’ for Entrepreneurs

1/15/2015 Inc.Magazine

businessIt was 2008 when Paul Ahlstrom from Alta Ventures chose Mexico as the next big opportunity to create and promote a venture capital industry. It’s been a long time since then. I was able to visit Monterrey, Mexico a couple months back and see a growing startup ecosystem in Mexico that was starting to become noticed. Here’s a brief overview of the last six years, during which Mexico developed into an operational entrepreneurship ecosystem and one of the best options for the entrepreneurs in Latin America.

For a long time the roadmap to success for anyone in Mexico was; go to a private university and get a job in a big company, climb your way up, and end up having a great and secure job. This has changed so radically that today we find that recently graduated engineers are looking to create a startups instead of accepting a job offer in the U.S. In a short time there has been the development of an entrepreneurial ecosystem that’s growing in every aspect: startups, funding and education. Recent statistics for Mexico show that:

  • Each year approximately 118,000 engineers graduate from college
  • 80 universities are focusing on engineering as their main area of knowledge
  • There are 45 venture capital funds
  • There are 100 accelerators and 20 incubators
  • 6.3% of people between the ages of 18 and 24 own their company.

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