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Mexico: the Entrepreneurs’ destination

Esta entrada también está disponible en: ES (Spanish)

The majority of foreign entrepreneurs in Mexico come from Europe, according to a report by Endeavor

Entrepreneurs like Mexico. The country is a destination for tourists and gray whales, but also for entrepreneurs.

Endeavor, a high-impact entrepreneurship movement, reported that the number of people who choose Mexico as a destination, either to start or expand their companies, is growing.

It is estimated that foreign promoters create 9,800 jobs in the Mexican market, collecting 1,720 million dollars in Mexico City.

ENDEAVOR PRESENTED THE RESULTS OF A STUDY THAT SEEKS TO EXPLAIN THE IMPACT OF FOREIGN ENTREPRENEURS AND EXPOSE THE REASONS WHY THEY CHOOSE MEXICO.

51 people were surveyed, 20 foreign innovators and 3 stakeholderswere interviewed.

It is a blue graph that has four different figures explained in percentage. On the right side there is a representation of the world with certain continents highlighted.
Graph of origin of foreign entrepreneurs. Credit: squarespace. Credits: squarespace.

Where do entrepreneurs come to Mexico?

The main countries that contribute venture capital funds to Mexico City are Japan, the United States and Mexico.

AT THE NATIONAL LEVEL, 49% COME FROM EUROPE, 26% FROM SOUTH AMERICA, 13% FROM ASIA AND 10% FROM NORTH AMERICA.

A great advantage that Mexico has is its northern border with the United States, which makes it easier to maintain ties with investors from that country, take advantage of trade agreements and the same time zone.

34% of foreign entrepreneurs in Mexico expressed their desire to live in the country, a fact that influenced their decision to invest here.

Fighting the narrative of crime and corruption in Mexico, a recommendationto the Mexican authorities

On the other hand, Endeavor’s results also include recommendations. Some to the government, others to local and foreign entrepreneurs.

Mexican authorities are advised to combat the narrative of crime and corruption; publicize the flexibility that the country has on immigration issues and accept official identification alternatives for certain procedures, among others.

In the image you can see a young man wearing glasses. Her hair is long and curly. She wears a light yellow long shirt and khaki pants In her hands we can see some folders
It is suggested to get informed on the flexibility of procedures and accept more identification documents.
Credits: pexels.

To the locals, he suggests investing part of their time in gaining experience abroad. As well as considering starting their company with a co-founder from another country. As well as considering starting their company with a co-founder from another country.

Finally, for foreign investors, Endeavor asks them to become familiarize with the processes to be a legal Mexican resident and consider starting their company with a co-founder.

With information from the U.S.-Mexico Foundation, Endeavor and squarespace.

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