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Encouraging talented people

Mexico, an emerging country for entrepreneurs

Redacción

Founded by two Mexican brothers and a US partner, Ooyala began as an internet startup in 2007, and has since become a behemoth of multi-device video delivery whose clients include Dell, The Hearst Corporation and ESPN. Its success captures the entrepreneurial moment of an entire country and the spirit of a generation of enthusiastic youngsters who dream not of revolution but of emulating Steve Jobs or Mark Zuckerberg.

Mexico has over 520 business incubators, organizations created specifically to encourage the growth of startups and early-stage businesses. Carlos Quirarte, Ooyala´s operations director at the Guadalajara headquarters (the city is considered Mexico´s Silicon Valley because of the high concentration of innovative companies based there), is a willowy man who makes his way around the desks with an unconcerned look.

This year, President Enrique Peña Nieto created the National Entrepreneur Institute under the direction of Enrique Jacob. Its mission is to work like a one-stop shop, providing economic support and advice to entrepreneurs and bypass the famously daunting Latin American bureaucracy. Before this agency opened, there were over 40 entrepreneurship programs scattered across the country that sometimes lacked a single applicant. Now, with a budget of 432 million euros, the institute has enough funds for new entrepreneurs and for small and midsized businesses.

Source: El País

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