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4 Reasons why Mexico’s tech Scene is growing

Mexico it is well on its way to deal with transforming into a global power.

17 de septiembre del 2018

 

 

As the second largest country in Latin America, Mexico is at the point of convergence of the region's tech disturbed, getting ideal around a fourth of most of the venture resources in Latin America in 2017.

Mexico is one of the world's largest economies, one that money related experts see as breaking into the primary 10 in the next years. It has a youthful population (half of which are under 27) and a school system making more than 130,000 engineers every year.

Goldman Sachs predicts that Mexico will be the world's fifth most prominent economy by 2050.

Mexico it is well on its way to deal with transforming into a global power. With a young, especially related masses that is transitioning to the middle-class, Mexico can lead much of Latin America’s tech ecosystem in coming years.

Mexico graduates more engineers than the United States.

Mexico's best universities, including Universidad de Guadalajara and Tecnologico de Monterrey, are pushing hard to create the talent Mexico needs to develop its tech ecosystem. In a country where over 33% of the people is under 25 years old, and three million people are enrolled in school. Mexico graduates more than 120,000 new experts a year and the Mexican government is working to make tech occupations locally, through activities.

According to Finnovista, Mexico is the region’s largest fintech market.

Mexico at present has around 238 fintech new organizations. This figure puts Mexico even before Brazil, which tends to lead Latin America in most tech industries.  A combination of factors, including Mexico's growing economy, low banking penetration, and an underdeveloped lending system, have pushed Mexican fintech to advance. Around 40% of fintech new organizations in Mexico focus on remittances or lending.

Tight-knit Community

The Mexican innovation movement is unstoppable because it comes from the bottom up, beginning in local communities rather than in a boardroom.

Mexico is one of Latin America's best in class tech giants, and worldwide investors are paying attention Mexico will undoubtedly be a tech market to watch all through the next decade.

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