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Mexico City - The arising Tequila Valley

MEXICO CITY The arising Tequila Valley Mexico Mexico City, the largest spanish speaking city in the world, is starting to make name for itself in the tech scene. Until now, Monterrey and Guadalajara were known as the main tech hubs of Mexico, however it is becoming harder to compete with the Capitals resources such as abundant and qualitative workforce. It might come to no surprise that soon Mexico City will be the new Tequila Valley. İGDP (contribution of internet to GDP) WEF 4.3% 55th 1% 422 3.3% in the world 6.3% Average annual growth of services in Global startups on Angel list Mexico USA Sweden Competitiveness economy Index 12.3M in Mexico City 170 000 millionaires ) Spanish 122.7M in Mexico 615 000 by 2020 (+262%) E-commerce in Mexico is 45.5% of 45% of active popu- projected to grow 23.8% in 2014 while the number of digital buyer will grow 9.8% 56% of respondents consider becoming an entrepreneur a desir- able career choice 26% people fear to fail if setting a busi- ness (against 39% in European Union) population is lation perceives tre- mendous business opportunities aged below 24 MARKET $32,392 per year Median or average rev- enue per person For every 100 Mexicans. FINANCING Economic growth in 2013 21 $315B Stock of Direct Foreign 4.1% have investment - at home smartphones -0.2% Mexico EU 2320 Investors on AngelList 12 Percentage market cap (as part of GDP) are subscribed to mobile broadband services 44.6% 50% 38th worldwide Mexico EU Venture Capital 38 64th World ranking World ranking for infrastruc- for Technolo- attractiveness index 74th rank (best in Latin America) are online $70M tures (WEF) gy readiness (WEF) rank Capital raised by Alta Ven- tures in 2012 to invest Main mobile OS $6.1B E-commerce into Mexican tech start- market size ups $147 40% 40.5% Average spend on e-commerce sites The number of smart- phone users in Mexico is projected to have grown Android Apple 26.3M 47 million active Facebook users Smartphone 2nd population in Latin/Central America 92% by 2017 users WHO TO FOLLOW Mexican Entrepreneurs LOCAL CONTEXT High-Technology exports 63d/142 Global Innovation Index 2013 Pablo Casaub0 Co-founder of PingStamp @boncasaubon $40.8B Start a business Cost to start a in Mexico business 6 procedures 19.7% of income $28.9B per capital in Mexico 6 days 33.1% of income 2002 2011 Jorge Madrigal Marcos Eshkenazi Frogtek's CEO @marcosenaz per capita in LATAM Aventura's CEO rank 53d @lorge_Madrigal 85 best country in the world 36th Mexican Startups Worldwide for En- 6 major accelerators to start a Higher education trepreneurial Cul- and training ranking (WEF) business MéxicoDestinos and incubators ture and Deal Op- portunities .com 500 Mexico City 4 major co-working spaces Online Travel Agency $ 18,496 Wayra AltaVentures per year for a designer (salary) $ 56,220 in the US Clip Urban Station Polanco El 3er espacio The Founder Institute Hacker Room Urban Station Mexico City, Coca Cola Accelerator Mexico City Mobile Payment System PingStamp Loyalty Platform for SMES Success story seedstarsworld fontacto Sources: Global Competitiveness Index (WEF) WorldBank - Bloomberg Credit Suisse Global Wealth Report 2013 Global Innovation Index 2013 CK, April, 2013 Seedstars World Reached 400 customers in a Fontacto is a virtual phone system for SMB's, free-lancers and entrepreneurs year. Received seed funding by 500 Startups

Mexico City - The arising Tequila Valley

shared by SSW on Jan 20
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In our "next startup Eldorado" series, we explore the startup ecosystem of Mexico


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