The Inter-American Development Bank (IDB) held a conference in Washington with the aim of promoting technological development in Latin America with the help of “unicorn” companies, those valued at 1,000 million dollars.
“This meeting has two objectives: to understand what is happening in Latin America in terms of digital transformation in the hands of leaders in the region and to think, from the bank, about public policies to promote it,” one of the specialists in Science and Technology of the IDB told Efe , Pablo Angelelli, at the headquarters of the institution.
The event “A new generation of stars” gathered today the leaders of seven companies in Latin America valued at more than 1,000 million dollars and that were born thanks to disruptive technology, characteristics of so-called “unicorn” companies.
Argentina’s Globant, Mexico’s MásNegocio, Brazil’s Stone Pagos, Uruguay’s Genexus, Paraguay’s Fweex, Guatemala’s Platzi and Chile’s Phone2action were the companies invited to the day to present their success stories and the business ecosystem in their respective countries.
The chief economist of Stone Pagos, Vinicius Carrasco, explained that his firm “aims to help small and medium-sized companies” through a platform of means of payment that offers acquisition services through card machines and processors of transactions made by credit cards. and debit.
For Carrasco, the business meeting organized today is “fundamental” so that different stakeholders can share their experiences and doubts to help shape public policies that guide and support new entrepreneurs.
“In Brazil, for example, there are very difficult conditions for entrepreneurs: access to complicated credit, payments, many taxes, you suffer a lot to create a company there, it’s a hard life,” he said in an interview with Efe.
However, he considered that multilateral institutions such as the IDB can play an “enormous” role by stimulating competitive policies that generate opportunities for growth in Latin America.
In addition, Carrasco pointed out that the IDB should “help take the next step” to emerging companies, that is, assist companies in the state to develop businesses and act as “consultants for entrepreneurs”.
Another of the experts who participated in the conference, Hugo Kantis, director of the Entrepreneur Development Program (Prodem) of the National University of General Sarmiento in Buenos Aires, underscored the “protagonist” role played by the companies mentioned in the entrepreneurship ecosystems of their countries.
“These companies that have managed to grow so much have a very important role in the ecosystems of their countries to be large players (…) In this meeting there have been opportunities for synergies and generate greater results,” he argued.
The director of Prodem, center responsible for making a classification on conditions to undertake in the region, highlighted Chile as the country with the best situation for emerging companies in Latin America.
Kantis also mentioned Mexico, Argentina and Uruguay in the background, although he warned that there are “very important disparities” in the region, which have caused Latin America to be “halfway down the table” globally.