Here are some of the most common misperceptions about the Latin American startup scene and a look at some of the attractive opportunities developing in the region.Latin America stands out when it comes to governmental willingness to develop cultural and public initiatives for startup programs.
The stereotypical aversion to taking risk is now being outweighed by a positive attitude towards startup initiatives, and this is undoubtedly pushing the Latin American startup ecosystem forward.A recent report from Gust and Fundacity, which provides an exclusive look at the 62 accelerator programs in Latin American countries, uncovered a total $31,563,841 investment into 1,333 startups in the region in 2015.
One of the largest accelerator programs in the region, Start-Up Chile, has managed to help over 1,200 startups and 3,000 entrepreneurs, with the most successful projects raising over $135 million.
And my firm, NXTP Labs, which has locations throughout Latin America and more than 174 companies in its portfolio, invested $6.5 million in the region s startups last year.Reports also show there are now over 141 coworking spaces in Latin America, and there s no shortage of resources such as Endeavor and Red Innova that are linking the Latin American entrepreneurial ecosystems and boosting entrepreneurial spirits.The entrepreneurial culture in Brazil is arguably ranked among the highest in Latin America, and, more often than not, Brazilian startups have easier access to funding opportunities than many other countries in the region.
Chile has also garnered recognition as a global tech hub thanks to its government-funded startup incubator, Start-Up Chile, mentioned above.Uruguay, too, has developed an entrepreneurial environment that welcomes foreign investment.
The country is stable when it comes to legal policies, and Uruguay is well known for its progressive principles in areas such as gay rights and marijuana consumption.