Startups and accelerators: the future of innovation in Latin America

The growth of innovation in Latin America is reaching a decisive moment. The region is positioning itself as a potential global hub for entrepreneurship and technology, with vibrant ecosystems emerging across major cities. This article explores the opportunities and challenges that Latin American startups face, ranging from access to funding and digital talent to the need for stronger public policies. 

It also highlights the role of accelerators such as Mana Tech and Startup Chile in connecting startups with international markets and bridging the gap with more established ecosystems like the United States and Europe.

A Region on the Rise in Global Innovation

In recent years, Latin America has experienced exponential growth in its startup landscape, with over 220 startups launched across multiple industries. Cities such as São Paulo, Buenos Aires, Santiago de Chile, and Mexico City have climbed in the Global Startup Ecosystem Index, outperforming more traditional markets.

Despite the rise of unicorns and the attention of global investors, structural challenges remain. Startups in the region often struggle with limited access to financing, bureaucratic hurdles, weak digital infrastructure, and the absence of robust public policies to promote innovation.

Comparing Latin America to Other Innovation Ecosystems

While the region has made significant strides in fintech, agtech, and biotech, it still faces a gap compared to more consolidated markets like the U.S. and Europe.

Ezequiel Mesquita, CEO of Parque de Innovación Buenos Aires, explains: “Latin American innovation ecosystems face greater barriers to financing and lower investment in research and development when compared to the U.S. and Europe, where more mature markets and support structures are already in place. Closing this gap will require stronger collaboration between ecosystems, with a focus on networking and cooperative growth.”

The Critical Role of Accelerators

Accelerators are central to building bridges between local startups and global opportunities. They not only provide funding and mentorship but also enable international expansion. By facilitating access to global networks, accelerators help emerging startups compete in markets with higher availability of capital and advanced technologies.

Mana Tech has shown how access to global connections can change the trajectory of Latin American startups. Similarly, programs like Startup Chile, which has supported over 2,000 ventures worldwide, demonstrate how structured support can drive innovation on a global scale.

Public-Private Collaboration as a Growth Driver

To strengthen the innovation ecosystem, collaboration between governments and the private sector is essential. While countries like Chile and Colombia have implemented successful programs to ease the creation of startups, more nations across the region need to adopt policies that stimulate investment in technology and research.

Building the Future of Innovation in Latin America

For Latin America to consolidate itself as a global hub of innovation, the region must focus on:

• Strengthening public-private collaboration through regulatory frameworks that favor investment in startups and technological development.
• Developing digital talent and education, ensuring that training aligns with the evolving demands of the tech industry.
• Expanding access to funding, creating incentives to attract more international investment.
• Scaling acceleration and internationalization programs, enabling startups to connect with global innovation ecosystems.

Latin America has demonstrated its ability to compete globally, but sustaining this momentum requires coordinated action. With the right combination of investment, collaboration, and talent development, the region can transform its entrepreneurial potential into a long-term leadership position in global innovation.