By Elena Castro
A startup is a young company founded to develop an innovative product or service, bring it to market, and make it irresistible for customers. Rooted in the technology industry, startups seek to create new categories of products and disrupt old ways of thinking and doing business.
According to a recently published 2022 “Startup Blink” report, Mexico stood out as the third best country for startups in Latin America, after Brazil and Chile. The annual global ranking of the 100 best countries and 1,000 best cities for startups was based on three criteria: quantity, quality, and business environment, and it measured factors such as number of startups, number of co-working spaces, business incubator programs to help startups innovate and grow, meetup areas, analysis of the main startups, presence of strategic research centers, presence of multinationals, private sector investment, number and size of events related to entrepreneurship, diversity index, internet speed, investment in R&D, availability of technological services, number of patents per capita, and the presence of what the report calls “pantheon” companies, that is, former startups that have reached a valuation of more than US$1 billion and have made a substantial impact on a global level.
The 2022 ranking of the best countries in Latin America for startups places Brazil with a clear advantage over its competitors, with a score of 9,480. Worldwide, it ranks 26th, on the same level as countries such as the United Arab Emirates and Portugal. Chile is in second place with 6,590 points, and Mexico is in third place with 6,021 points, ranking 34th and 35th in the world, respectively, in the same group as countries such as Poland and Bulgaria. Argentina ranks fourth and Columbia fifth in Latin American, and both are also among the top 50 in the world.
Major cities worldwide
According to the “Startup Blink” study, the best Latin American cities for startups in 2022 are in Brazil and Mexico. Sao Paulo, with 36,654 points, was ranked the best city in Latin America for startups, also ranking 16th worldwide, making it the only representative from the continent in the top global 30.
Other Latin American capitals cities follow. Mexico City is in second place with 15,691 points, followed by Buenos Aires with 10,938 points, Santiago de Chile with 9,708 points, and Bogotá with 9,467 points. These five cities are also part of the world top 100.
Most favorable Mexican cities
In Mexico, Mexico City received top scores as the best city for startups, and three other Mexican cities are in the top 20 best cities in Latin America for startups: Monterrey in sixth place, Guadalajara in 10th place, and Puebla in 14th place.
The other seven Mexican cities that are among the top 1,000 in the world, with a score of less than 600 points, are Zapopan, Cancún, Chihuahua, Querétaro, San Luis Potosí, Hermosillo, and León.
*Published with permission from Mexico Industry. Follow the link to continue reading:
