Investment figures: In 2020, Mexican startups raised around $1.1 billion in venture capital funding, while in 2021, the amount increased to $1.6 billion.
Thriving industries: The fintech, e-commerce, and healthtech industries are some of the fastest-growing sectors for startups in Mexico.
Active investors: Some of the most active investors in Mexican startups include Kaszek Ventures, Ribbit Capital, and QED Investors. US-based VCs also play a very important role in the Mexican ecosystem and are actively investing in the country.
Popular startups:
Clip: A digital payments platform that offers an innovative solution to traditional banking services in Mexico.
Conekta: A fintech company that provides payment processing solutions for businesses in Mexico.
Doctor en Linea: A telemedicine platform that connects patients with licensed physicians in Mexico.
Kavak: An online marketplace that connects buyers and sellers of new and used cars in Mexico.
Nubank: A digital bank that offers financial services to customers in Mexico and Brazil.
Government initiatives: The Mexican government has launched several initiatives to support the growth of the startup ecosystem in the country. These include tax incentives for investors, funding for innovation, and support for entrepreneurship development programs.
Comparison with rest of the world: Mexico's startup ecosystem is rapidly growing and has a great potential for attracting more investment. However, it still has some challenges to overcome, such as limited access to capital and infrastructure issues. Nevertheless, the country has a large market and a young, talented workforce, which makes it an attractive destination for foreign investors compared to other emerging markets in Latin America.