Argentina is seemingly a paradox: How can one of the most economically unstable countries in Latin America produce so many great entrepreneurs and the only three public tech companies of the Internet age? On one hand, outcomes for startups have been way ahead of its neighbors, but, on the other hand, local businesses have suffered from the economic instability.
The recent passing of the Entrepreneurs Law by President Macri in April 2017 aims to empower Argentina to dominate the regional startup scene. The new law not only contributes seed funds to small businesses in Argentina, but it also makes it dramatically easier to start a business. As Macri opens up Argentina’s market to the global economy, we will likely see more and more startup success.
If you are seeking investment for a venture in Argentina, here are some of the major players in the venture capital ecosystem. For a more in depth look at Argentina’s ecosystem, see my post Doing Business in Argentina. (more…)
I asked Cristobal Perdomo to join me on this episode of crossing borders to talk about venture capital in Latin America. Cristobal is one of the founders of Jaguar Ventures, a Latin American based VC firm.
After getting an MBA and consulting for a couple of large companies in Brazil, he realized that the VC world was largely ignoring the rest of LatAm, so he set about to expand funding opportunities for startups in Argentina and Mexico. He shares advice for managing a business in multiple countries, investing in startups across the region and tips for managing teams across borders.
Silicon Valley is no longer the only hotspot for startup activity. Many more startup hotspots are popping up across Latin America, and new programs are not only bringing life to local economies but also helping Latin American entrepreneurs tap into international networks.
I was part of Start-Up Chile’s pilot round in 2010, which was the pioneering equity free accelerator in the world. Chile’s government-backed and equity-free accelerator program is well known for producing a vast network and many startup success stories.
By 2015, Start-Up Chile led to over 1,500 new jobs, its successful graduates raised over $100 million, and the program changed the culture around startups in Chile.
Now, under the direction of executive director Rocío Fonseca, Start-Up Chile offers multiple programs, including The S Factory, designed uniquely for female founders. Through its successes, Start-Up Chile has demonstrated Latin America’s incredible potential and sparked a movement across the region. (more…)
With the success of huge marketplace companies like Amazon, it might be easy to think that new online marketplaces are not going to work out very well, but my guest on this episode has demonstrated over and over that it’s simply not the case. Guimar Vaca Sittic is an Argentinian entrepreneur who has built successful online marketplaces himself and who now is a venture parter at FJ Labs, which focuses primarily on US and international marketplaces. You’ll find his story and perspective very inspiring and helpful.