Reason behind the Many Start-Up Companies in Latin America
Latin America is continuously becoming a place where start-up companies are doing well. The capability of the region to support new companies have made investors admire investing in the region. Businesses are usually set up by entrepreneurs with the purpose of making financial gains. The region have become a hub where new companies start and grow. The success of these start-up companies is noticeable as these companies turn out to be big companies in the long run. There are accelerator programs set up by the governments of the countries in the region that encourage start-up to be started in the area. The countries in the region have noticed that the only way they can improve their economies is by encouraging more and more companies to be set up in the area. The accelerator programs that enable the influx of start-up companies in Latin America are included in this article.
This is a country found in the Latin America region. This country has one of the ideal and stable economies in the area. The government of Chile embarked on a program called Start-up Chile so as to help attract entrepreneurs to invest in the country. This program made other countries like the idea and started to introduce their own. This program had a huge success rate as majority of the companies that were the beneficiaries of this program progressed very well. In addition to this, Chile boasts a good security infrastructure than most of the Latin countries thus proving to be the direct choice by entrepreneurs as they are assured of the safety of their investments.
Despite the economic problems faced by Argentina, they have made a huge change over the years. IncuBate was started by the Argentinian government so as to help improve the country’s economic situation. This acted as a feature that made the are likable by entrepreneurs to start new companies. The accelerator program entitled the start-up companies to getting monetary help and free mentoring and advise services provided they were capable of raising a specific amount. The government had the aim of providing all their neighbors a chance to succeed by offering them these open services thus more business were set up in the area and majority of them succeeding.
This is one of the factors that makes start-up companies do well in Latin America. This program provided equity-free training and mentoring access to young investors in a way to help them. The start-ups were viewed as the only way in which the country would pull away from the crisis as it would improve the economy due to the cash flow involved in the business transactions thus had much support from the government.
The area enjoys a good business culture supported by the good way of life by the people. This makes a good market for these start-ups thus making them flock the area.