Start-up Latin America 2016

Building an Innovative Future

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Start-ups are gaining momentum in Latin America. Start-up Latin America 2016: Building an innovative future reviews the dynamics of start-ups and the policies for start-up promotion in four countries in the region –  Chile, Colombia, Mexico and Peru. The report reviews the policy mix for start-up promotion and highlights the progress made by each country and future challenges. It identifies good practices in promoting start-ups and lessons learned in Latin America in the design and implementation of policies.

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Executive summary

OECD Development Centre

Sustainable, inclusive growth depends largely on a country’s ability to translate productivity gains into better welfare for the population. Innovation and the creation of new firms are essential to drive this virtuous process of productivity gains. Startups bring new products and services to the market based on scientific discoveries and new applications of existing knowledge. They create new markets and business models and offer novel solutions to emerging problems. Start-ups also bolster competition for innovation and encourage the development of a dynamic business environment, and they have the potential to boost and diversify the economy. However, these enterprises must overcome major hurdles to get up and running and to expand, especially in developing countries. Start-ups do not emerge in a vacuum. They need entrepreneurial talent, technical skills, business management capabilities, services and legal frameworks that foster their creation and expansion. They also need investment in infrastructure. Public policies can adopt various courses of action to reduce the barriers encountered by those looking to create or expand start-ups, and governments can work with the private sector on actions to support the development of an ecosystem in which there are dynamic start-ups.

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