Mexico City recently witnessed the second edition of the Oxford Founders Society Program, co-founded by Oxford University alumni Lucas Jacobelli and Morgane Bascle, held at the BBVA Tower. This initiative, pivotal in nurturing startups within emerging economies, garnered support from BBVA and key financial institutions.
After the competition between 8 startups, the spotlight shone on Taxo, an innovative Ecuadorian application specializing in tax automation for individuals. Fresh off its launch in the Mexican market, Taxo emerged as the victor of this edition, demonstrating the potential and ingenuity of startups in the region.
OxFounders, buoyed by the prestige of one of the world's leading universities, focuses on identifying and bolstering the most promising startup. The selection process was stringent, with startups evaluated rigorously based on their pitch presentations.
The program doesn’t just end with recognition; it extends substantial support encompassing financial, legal, and administrative guidance. Additionally, it connects startups with top-tier companies in the digital economy for strategic insights and mentorship.
Sector Insights: A Resilient Venture Capital Industry
Data from Cuantico highlights the resilience of the venture capital industry in emerging stages within Mexico. Despite a noticeable downturn in regional investment since 2022, following the retraction of significant global investors, the local venture capital scene has maintained a growth trajectory over the last five years. The slowdown in 'late stage' investment phases, however, reflects a decrease in overall investment volumes.
Global Reach: Mexico's Edition Following Istanbul’s Success
This edition in Mexico, hot on the heels of the inaugural event in Istanbul, drew an impressive array of 30 projects, registered by mid-2023. The fierce competition culminated in only eight making it to the grand finale. The event, a convergence of academics from Tecnológico de Monterrey, UK Embassy representatives in Mexico, and finance and technology sector leaders, underscored the program's international appeal and impact.