The emergence of a large entrepreneurial community is essential for the development and growth of any country. For there to be a sizable number of new enterprises and for these to grow and thrive; they need funding, and this funding usually comes from venture capital (VC). In the U.S., large, venture-backed companies — Amazon, Apple, Cisco, Google, Medtronic — are major parts of the economic landscape. A recent study by the National Venture Capital Association and HIS Global Insight estimates that 11% of U.S. jobs were created by VC-backed companies.
In Latin America, on the other hand, the VC industry is still nascent. At a recent meeting at the at the Multilateral Investment Fund (the investment and granting arm of the Inter-American Development Bank), Josh Lerner of Harvard Business School said the Latin America VC industry still has to go through the growing pains that Silicon Valley did 40 or 50 years ago during its embryonic days.
To read the full, original article click on this link: Mexico Needs a Venture Capital Industry - Álvaro Rodríguez Arregui - Harvard Business Review
