Creating startups in Mexico: Karla Berman’s 5 key insights
Creating startups in Mexico has become a promising opportunity for entrepreneurs, thanks to a more supportive environment. During a talk at Tecnológico de Monterrey, Karla Berman, an experienced businesswoman and investor, shared five key factors that fuel startup success in the country. These include market conditions, social challenges, technology, human talent, and capital, all of which contribute to Mexico's growing entrepreneurial landscape.
Key drivers of startup growth in Mexico
According to Berman, startups are characterized by innovation and the use of technology, and they have the potential to become unicorn companies, those valued at one billion dollars or more without going public.
1. Market conditions as a key driver
Berman pointed out that Latin America's market conditions are a major advantage. With a large, young population and a significant GDP, Mexico stands out as a strategic destination for emerging companies like Mercado Libre and Rappi, both of which have prioritized expansion in the country.
2. Identifying unresolved social problems
Another crucial factor is the abundance of unresolved problems. For instance, low financial inclusion rates offer vast opportunities for innovative solutions. Berman encouraged students to observe their surroundings closely to identify unmet needs that can inspire impactful ventures.
3. The role of technology in entrepreneurship
Technology also plays a crucial role. Today, tools like smartphones allow entrepreneurs to quickly test business ideas, making the path to launching a startup more accessible than ever before.
Additionally, Berman highlighted the growing entrepreneurial ecosystem in Mexico. As entrepreneurship gains social acceptance as a viable career path, networks of support among founders are strengthening, making it easier to start and grow new businesses.
4. Harnessing human talent for innovation
Berman highlighted the critical role of human talent in driving innovation. Mexico’s growing ecosystem of skilled professionals supports the development of high-impact ventures.
5. Capital availability and venture investment
Finally, the increase in venture capital investment, both from international funds and Mexican corporations, is fueling the country's innovation landscape. Berman emphasized how the convergence of market opportunities, problems to solve, technology, human talent, and capital is creating unprecedented possibilities for high-impact entrepreneurship.
Insights on Mexico’s startup ecosystem
According to Nelly Salas, Director of the Entrepreneurship Bachelor’s Program at Tec Santa Fe, Berman’s visit gave students a valuable opportunity to reflect on the challenges and opportunities within today's entrepreneurial ecosystem.
Berman concluded her session by encouraging young entrepreneurs to seize the moment: “When market conditions, problems to solve, technology, human talent, and capital come together, incredible things start to happen."