Is Innovation Innovative?

Investing in Mexico
I was happy to read a piece in TechCrunch about the startup ecosystem in Mexico. It was mostly a puff piece but, we’ll take whatever we can get. All of the usual suspects (including Agave Lab Ventures) got a mention which, again, I’m happy about and thankful for. However, in reading it, I couldn’t help but wonder about the approach we, as an investment industry, are taking.  Is it just me or does is seem that we’re simply rehashing an investment model and approach that was popular in San Francisco 10 years ago? Namely “Sprinkle money on recent college graduates and hope that they do something interesting with it.”

Having had a foot in both the Bay Area and here, I can’t help but marvel at the differences both culturally and in the business environment. I wonder why we aren’t seeing innovation applied directly to the investment model itself. Are there any investors out there that have adapted their approach to take advantage of the unique climate here in Mexico? I’d love to hear about them.