He also mentions that Latin American thought focuses on solving immediate social problems, while companies in the United States seek to address issues that will have an impact in the future, something that is riskier and investors prefer a sign that technology is functioning in the present.
However, he highlights that the processes of creating and validating the technology are a disadvantage in the region, since they can take up to two years, while in the United States this process can take less than a month.
Schreyer also mentions that it is necessary to support technological initiatives that go beyond the most popular ideas of the moment, such as Artificial Intelligence, and choose to develop projects related to biotechnology, “since many times it is not that they do not want to invest, but that they They don’t know these kinds of startups.”
According to data from Statista, the landscape of emerging companies in Mexico is characterized by being mostly software and data, as well as electronic commerce and retail commerce, coupled with the fact that other sectors, such as financial technology (fintech), are in its heyday
On the other hand, the same firm highlights that no Latin American country that is part of the Organization for Economic Cooperation and Development (OECD) was on the list with the most biotechnology companies until 2018, even though this sector is usually safe because it These are technologies that are difficult to replace by others in the short term.
Huawei seeks to boost national tech startups
Omar Arab, chief business development officer Huawei, agrees that Mexico is a country with a lot of talent, a lot of consumption and a high level of education in technology, in addition to the fact that the entrepreneurial ecosystem and investments in it have grown a lot.
One of the elements that has allowed this growth, he points out, is nearshoring, a phenomenon that he describes as an opportunity to boost the entrepreneurial ecosystem, which represents 70% of the Mexican economy.
The company of Chinese origin and the Mexican Agency for International Development Cooperation (Amexcid) announced the Spark program, in which an investment of 1.6 million dollars is earmarked for startups in the Mexican market.
In this edition, the objective is to support 139 newly created companies, of which 60 are expected to be Mexican and whose call is open until May 31. The selected startups will be announced in early July and will receive annual financial support of between $2,000 and $100,000, as well as mentoring and training from Huawei.
Arab highlights that there are many opportunities to develop technology in different sectors, such as the hospital, e-commerce, fintech, biometrics, and another has to do with the use of AI or big data, technologies that will add value to the business, as they will improve the experience and hyper personalize the experience is going to have a significant scale.