Author: Allan Smith

Entrepreneurs who are interested in starting off with their startup venture should look south of the border. Lucrative and profitable startup culture is no longer restrained to places like New York City, Silicon Valley, Texas and Austin. It is rather significant to note that the South American cities are all gaining enough international attention for their powerful start-up communities, cost-effective way of doing business and their impressive tech professionals. In fact, there are few South American governments which are taking immediate action to ensure that their respective cities play a role in the next big trend of innovation by offer incentives and subsidies.

South American cities which growing up to be the hottest destination for startups:

1/ Santiago, Chile: Santiago has been named as the ‘Chilecon Valley‘ of Latin America and there are indeed some good reasons behind earning this name. The universities in Chile, private corporations, the Chilean government and the investment funds are all trying hard to transform this place into an entrepreneur hub. The State-backed Start-Up Chile is a 6 month training program provided to the graduates in the form of equity-free financing and a year visa. Since the inception, they have graduated more than 1100 startups. The government realized that they had something in their hands and no one was doing anything about it.

2/ Buenos Aires, Argentina: There are number of reasons behind entrepreneurs preferring Buenos Aires for starting their business venture. High quality life, low standard of living, accessible transport and cost-effective business are some of the reasons behind the popularity of this city. But the main reason of choosing this place is its city. There is an inevitable entrepreneurial spirit which you may not have seen anywhere else in the whole world.

3/ Medellin, Columbia: Medellin, located in Columbia, is gradually becoming one of the hottest new places for the emerging start-ups. Ruta N, the federally-sponsored organization is the main driving force behind this growth. This corporation also offers young companies support in some of the main areas of business including recruitment, finance and public relations. The government of Colombia is trying to bring 65% of its population online by the year 2018 as per a report by Colombia Reports.

Worthy good reasons to start up your business venture in Argentina:

As mentioned earlier, it is indeed true that Buenos Aires is a great place for startups. Let’s take a look at some good reasons behind this popularity.

1/ Affordable cost of starting a business: The government of Argentina welcomes foreign investments and hence startups can move or expand their business with enough ease. As to what International Finance Corporation and the CEO of Comparaencasa, Lucas Lezcano Velez says, founders are allowed to start their business with less than $300 US in few days. Argentina is proud about being home to the largest number of university pass-outs and hence there is a high skilled-labor-to-low cost ration within this city.

2/ Best mobile development and designer shops: The workforce in Argentina is highly educated and Buenos Aires has become one of those cities which outsource mobile development services to companies throughout the world. This is mainly done because BA offers great service at a very low cost as compared to the other bigger cities of the US and they also have an easier communication as against Indian companies.

3/ Collective entrepreneurial community: Some of the most innovative companies of South America are all based in BA. Mercado Libre, eBay of Latin America, Kaszek Ventures, a top venture firm are all based in BA. Recently, the government of Buenos Aires launched a support initiative to aid local startups which focus at their early stages. Through this initiative, an investment ofAR28 million which is equivalent to3.5 million will be given to 5 such local startup accelerators.

4/ Low standard of living: Buenos Aires is one of the top cities of Latin America which has been given the name of Paris of South America. Between its lively culture, exquisite architecture and awesome neighborhoods, BA has become the hub for some creative expats from the world. Since 2001’s financial crash, the cost of living and prices have dramatically decreased. Hence, you can live there at ease and carry on with your business.

5/ Unique and interesting lifestyle: The scenery, food and music of BA are extremely special and all restaurants throughout BA will give you a variety of delicious menus at a pretty reasonable price. The nightlife can be a good entertainment for the entrepreneurs during their time off too.

So, now you know about the worthy good reasons behind starting off your business venture in Argentina, the hometown of Pope. Consider the above mentioned factors as a boost to push you towards becoming an entrepreneur.