It should be unsurprising that technology and startups in Mexico have taken off over the past few years. The country has some real strengths going for it. At around 130 million people, Mexico is the second-largest market in the region and the biggest Spanish-speaking country in the world.
Technology in Mexico has evolved by leaps and bounds thanks to the country’s turn-of-the-century discovery of open markets. Proximity to the US has not only allowed it to catch-up technologically since, but it has also opened the doors to increased flows of foreign direct investment. Investors and founders would do well not to forget the additional 10 million-plus Mexicans in the United States. They form the backbone of an important two-way channel of capital, intel, tech, best-practices, and culture.
And thank goodness for these Mexico startups, because these high-impact ventures have been one of the few drivers of economic expansion in Mexico after decades of sluggish growth. However, this could explain the distinct lack of unicorns in Mexico—although I’ll probably be editing this entry soon, if fintech Clip has anything to say about it.
Anyways, feel free to browse our sleek section on tech and startups in Mexico!