Venture Investing in Mexico – 5 ways that Mexico is NOT like the Silicon Valley

Startup Investing in Mexico

Click me to see presentation

 

I gave this presentation last night at an investor summit here in Guadalajara. It’s really just a seed of an idea that I’ve been kicking around for the past couple of years and the synopsis is this:

Mexico has a bee in its bonnet to create an investor ecosystem that mirrors that of the Silicon Valley. It’s obvious why we’d want to do that (jobs, money, etc.) but, in my opinion, we’re going about it all wrong.

To state the obvious, Mexico is not San Francisco. Some of the big cultural differences that stand in the way of a “Silicon Valley of Mexico” include:

1. Distrust of unknown people and ideas
2. Over reliance on titles and pedigree
3. Uncomfortable with failure
4. Successes are not shared publicly
5. No tech/startup history

The path forward for Mexico is a bright one but rather than adopting an approach from outside, we need to create a investment model that affirms the reality on the ground and leverages the strengths that we have. Pragmatism, incremental investment in actual financial success (rather than speculation), solve real-world problems (rather than inventing problems to solve), target large markets that have a pent-up demand for technology adoption (lets leave “Tinder for Uber for left-handed dog-lovers” to our Northern brethren.

Check out the presentation and drop me a line. I’d love to hear your thoughts.

-Andy