With a population of over 9 million, Mexico City is the world’s 7th largest city. Mexico City has worked tirelessly to build a positive reputation as one of the most vibrant and recognized ecosystems, with more than 1,200 active startups. Along with its amazing cuisine, dynamic culture, and incredible history, Mexico City is quickly becoming one of the most desired locations for international startup growth.
Below are 5 reasons we think Mexico City is one of the best locations to experience the startup lifestyle.
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Money, Money, Money
This Latin American mega-city is the core of Mexico’s startup ecosystem, with the Mexican government committing more than $650 million to hundreds of thousands of entrepreneurs to jumpstart the region’s tech scene. According to Instituto Nacional del Emprendedor (INADEM) data, 6000 companies and 73,000 jobs have been created as a result of these efforts.
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The Living is Easy, and Cheap
As one of the most affordable cities in Latin America, Mexico city boasts a cost of living that Is nearly 85% lower than San Francisco. Food prices are 30% lower than Santiago, Chile or Buenos Aires, Argentina, allowing residents and ex-pats the opportunity to cut costs even further.
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Can’t Beat the Location
Located conveniently between the major tech hubs in North America and the thriving startup scenes in South America, Mexico City startups have many opportunities to collaborate internationally. In 2012, 500 Startups (a venture capital firm on a mission to discover and back the world’s most talented entrepreneurs, help them create successful companies at scale, and build thriving global ecosystems), opened it’s first office outside of the Bay area in Mexico City.
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Young and Talented Population
According to recent statistics, half of Mexican residents are under the age of 20. As local Mexican universities are graduating engineers and others in technology-focused programs at a rate that rivals other major international cities, the prospect of upward mobility and the expansion of the tech ecosystem is drawing in more and more entrepreneurs.
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Connections and Resources
With co-working spaces continuing to pop-up all over the city, startups have access to collaborative workspace that encourage growth. In addition, Mexico City has become a hotbed for well-known conferences, recognized accelerators, and VC firms. Big companies, such as Facebook, Uber, and Google have also expanded their Mexico City operations, creating a technology-focused environment in which startup companies have the opportunity to scale.
Want to immerse yourself in the Mexico City startup ecosystem? Join one of our 2020 programs and get a real look into the culture, cuisine, and history of one the most vibrant cities in the world!
