2023-06-01 01:15:00
In the Latin American and Caribbean region, startups had a drop in indexaccording to latest study de StartupBlink, 11 countries in the region are part of the top 100however, except for Colombia (which rose 4 positions)the rest of the nations dropped positions with respect to the 2022 ranking.
“Latin America and the Caribbean is the region with the least amount of financing in 2023, capturing just 2.2 percent of global funding, while the region received close to 3% in 2022,” the report explains. In addition, it highlights that Brazil, Mexico and Colombia captured more than 70% of the region’s financing.
The StartupBlink study seeks to be a global map of startups and publicize ideas about trends affecting the global ecosystem.
Seven countries dropped their ranking in 2023
Brazil, Chile, Mexico, Argentina, Peru, Costa Rica and Panama were the countries that fell in the ranking of citiesDespite this, these first four remain among the first five regional countries. The worst performance was for Argentinathat regarding a comparison YoY lost 10 places, Panama lost eight places, while the third worst performer was Peru, which lost six places.
As for the best performance, Colombia improved four places in the rankingwith this progress the coffee country is the only one in the region that demonstrated positive momentum in the world’s top 50: “Its improvement retained the number of countries in the Latin American and Caribbean region (…) replacing Argentina.”
Ecuador also rose in position by climbing six places compared to 2022, and obtain a score of 0.664. Under this scenario, the top five countries in the region are also part of the top 50 globally.
The report states that Brazil is the leader in startups due to its emerging economy and market potential; its large corporations contribute to the favorable climate to provide accelerator programs and incubators, as well as Strong financing opportunities.
Which cities stand out in startups in Latin America?
“The region has a total of 77 cities represented in the global top 1,000, with 11 countries ranked in the world top 100”, details the report. As for cities, Sao Paulo also leads the Latin American list with a score of 34,831.
First place’s score is almost more than double that of second place, Mexico City with 13,567. The third level includes Bogotá, a city that rose five places compared to 2022, and seeks to continue climbing the scales to be a benchmark for startups in the region. The Colombian capital has 762 startups in the study databasewhich represents about 57% of the startups sampled in the country.
“The top 20 regional cities have seen generally positive results: 13 cities improved their rankings6 experienced a decrease, and one (Santiago) maintained the same global ranking as last year”, mentions the research.
Other cities highlighted in the letter are: Quito, Ecuador, which experienced significant increases going up 161 placess, to rank 299 in the world, and 19 at a regional level.
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