Mexico has opportunity in sight, but must face challenges to get there

November 16, 2019
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This article was written and published in Spanish and has been translated into English via Google Translate. Click here to read the original article.

The Global Entrepreneurship Monitor (GEM) stressed that Mexico has the second best ecosystem for entrepreneurship in Latin America with plenty of business financing and recent government policies that support the activity.

In the case of business financing, the private sector is the one that is currently prevailing, such as Reinventing Mexico, which aims to boost social and technological innovation in Mexico, as a strategy for the development of the country.

“Reinventing Mexico is the foundation where we are building a platform of thought where we want to attract different events from international spheres to the country and thus open spaces for issues such as inclusion and even the role of technology. We are bringing different entities and experts who see the different challenges that the country is going through.”

Javier López Casarín, President, Reinventing Mexico Foundation

During the third edition of SingularityU Mexico Summit 2019, Casarín assured that the country has an environment where bright minds are mixed and there is a perfect opportunity for all participants to exchange ideas and improve the future of the country.

On the matter of entrepreneurship, the president of the foundation believes that it is essential to understand that startups or any entrepreneur who wants to make a change in society will initially fail.

“We have to deal with the fear of failure and therefore the first step is not taken. We are full of ideas but lack of structure that fear of trying stops you and you should demystify the issue of failure and understand it as part of the process,” said Casarín.

Mexico as a replica of other countries

The GEM ensures that the country occupies position 23 in terms of entrepreneurship, below Argentina.

The Mexican entrepreneurial ecosystem is at a turning point determined by the lack of a support policy that the federal government had had so far. Part of that support is beginning to be covered by the market, but corporations are creating venture capital funds they are being invested in, said Hernán Fernández, managing partner at Ángel Venture México.

Casarín added that Mexico is moving forward, but without a doubt the country needs “a hub” for the segment of entrepreneurs to grow, just as Israel has done with its entrepreneurs. However, the Israeli government understands that new idea flows must be contributed to so that people have the courage to invest.

For this reason Reinventing Mexico wants to make society understand that the important thing right now is to attack poverty in the country: “We are aware that there are more than 20 million children with poverty and that is our future, we have to turn to see them and It starts from education, ”said the founder of the foundation.

He added that this is a challenge that the country has: "It is our future and we should not leave everything in the hands of the government, but as a society we must do it all together."

This article was written and published in Spanish and has been translated into English via Google Translate. Click here to read the original article.

November 16, 2019

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