Why Amazon and Entrepreneurs Are Bullish on Mexico Kristen Durham - TechCrunch
go to original July 26, 2015

Imagine a country with 100 million mobile phones, but just 15 percent of residents have a credit card. A country where more than half of the population is under age 27, but less than half has Internet access. That, in a nutshell, underscores the opportunities and challenges for innovators and investors evaluating Mexico’s emerging innovation economy.

To get a first-hand look, Silicon Valley Bank in June organized a trip to Mexico City for two dozen U.S. and Latin American investors to meet with some of the nation’s leading entrepreneurs and investors, as well as government and university officials.

There is a lot happening to justify the growing confidence of U.S. and international investors in the fledgling innovation sector of Latin America’s second-largest economy.

While Brazil’s tech ecosystem dwarfs that of Mexico, we found an energized and developing Mexican sector primarily focused on Internet infrastructure, mobile communications, e-commerce, financial services and education.

The stable Mexican economy is fueling overall growth, and technology companies are bolstered by a burgeoning middle class in addition to the youth-centric population primed to go mobile. And while doing business for foreigners (and natives) still can be challenging, the government in recent years has implemented key legal and financial system reforms.

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