For the fifth time since November 2012, tech leaders gathered on the Punta Mita peninsula for MITA TechTalks — a three-day conference on the challenges and opportunities that occur in cross-border tech alliances and innovation. On the occasion of CSQ’s visit to Punta Mita, we talked with Lynne Bairstow, Managing Partner at MITA Ventures, about the state of Mexican tech and its impact on the nation’s economy
C-Suite Quarterly What was the biggest throughline from these TechTalks?
Lynne Bairstow We need to tell a better story about Mexico. Outside of our community, there is little awareness of the tremendous growth in both the quantity and quality of innovative tech companies in Mexico. As reported by the Organization for Economic Co-operation and Development (OECD) in 2016, Mexico is the country that ranks highest in growth of new startups between 2012 and 2016. Additionally, during the first six months of 2016, Mexico led the Latin America region in number of VC deals – 47 transactions compared to 11 in the same timeframe in 2015 – for the first time since data has been collected in 2008.
CSQ What was the tenor of the room when discussing the benefits of Mexico as a growing tech ecosystem?
LB As diplomatic relations between the US and Mexico continue to generate uncertainty economically, opportunities for change and growth present themselves. A strong and prosperous tech ecosystem – consisting of entrepreneurs, investors, corporations, and policy makers – can create a new and important contribution to Mexico’s GDP. Quite simply, there is a newfound belief that technology and innovation can create greater economic independence for Mexico and advance important cultural change.