One reason why LatAm’s tech scene has become so attractive is that numerous countries in the region are investing in relevant education. Together, Mexico and Brazil graduate approximately 605,000 software engineers each year. By some estimates, several countries are outpacing the U.S. in terms of tech graduates in different niches. These investments in education are leading to an abundance of talent in the region, with many individuals equipped with the skills and qualifications companies that rely on tech innovation need.
Government Initiatives
Recognizing the importance of digitization, governments across LatAm are spearheading initiatives to ensure digital access and connectivity in their regions. Take the Inter-American Development Bank (IDB) in Argentina, which approved a $100 million loan to create a program that would increase internet access throughout the country, with a particular focus on connectivity in remote areas. The program also seeks to finance digital training programs and certifications to improve digital inclusion.
By improving digital access, governments are laying the groundwork for more individuals to not only leverage online services and tools but also tap into the field and potentially find professional paths in tech.
Funding
With so much activity on the tech front in LatAm, venture capitalists are trusting the region with their investments. Last year saw VC investors pouring roughly $19.5 billion into Latin America, according to Crunchbase data. That’s a figure more than three times the record-setting number the previous year. This, in turn, gives startups the opportunity to build and scale their tech companies, contributing to a digital economy and helping solidify Latin America’s reputation as the next Silicon Valley.
Latin America: The Next Frontier of Tech
From Mexico to Argentina, Latin America is making a name for itself as a central tech hub. I can speak to this enormous growth: My company, a software and IT outsourcing provider in the region, has seen massive growth year over year, and we’re not slowing down.
Whether you’re looking for software engineers, web developers, product managers, UX designers, data scientists, IT experts or cybersecurity specialists, every business in North America and beyond should have their eye on the Latin American talent pool—what I believe to be the next Silicon Valley and frontier of tech.
by Nacho, CEO of BairesDev, a leading nearshore tech solutions company and General Partner at BDev Ventures, a VC fund for B2B businesses.