the mif blog

For decades, Latin American and Caribbean countries tried to replicate the Silicon Valley or Israeli models of innovation and early stage financing. Governments spent considerable amounts of money sending missions to these and other countries to “sample their secret sauces”, and working with US universities, to copy them.

Este año como parte de mi trabajo en venture capital (VC) en el FOMIN/BID, he ido varias veces a Silicon Valley (SV), cosa que no me pasaba antes. Las pocas veces que había ido, encontraba que no había interés en América Latina y el Caribe (LAC) porque se la veía como una región de copycats y no de innovación… 

I just came back from California, where the Brazilian VC/PE Association, ABVCAP, held its fourth InBrazil Forum. The idea of these fora is to introduce Brazil and its investment opportunities to Silicon Valley (SV) investors. It showcases entrepreneurs and funds from the country, as well as other actors from the ecosystem: lawyers, government agencies, family offices, corporations, Silicon Valley Bank, and the MIF; all with track records supporting the VC/PE industry in Brazil and other countries.

For years, Latin America and the Caribbean has been looking for the right innovation model to replicate as a way to unlock capital for its entrepreneurs. Is it Silicon Valley? Israel? Korea? Boulder? Which model has the magic wand that will transform Latin America and the Caribbean and allow it to play with the “big guys”: the United States, the United Kingdom, Israel, or Korea?