According to a report developed by Prodem and Wayra, innovation programs with startups have multiplied by 10 in two years in Latin America.

During the last two years, 155 large companies set in motion over 180 open innovation initiatives, promoting, accelerating or investing in over 2 thousand startups in Latin America.

Brazil, Chile and Mexico where companies connect with entrepreneurs the most.

Brazil leads the ranking with 64 initiatives, followed by Chile (28), Mexico (24), and Argentina (23). The report points out that Pacific Alliance countries (Mexico, Chile, Peru and Colombia) have 72 initiatives, beating the South American giant.

Sectors that show the highest levels of interest towards entrepreneurs are technology, telecommunications, e-commerce, insurance, and finances.

According to Miguel Arias, Director of Wayra, the entrepreneurial ecosystem is growing considerably in the region, which “may turn it into one of the main drawers for venture capital funds in the years to come”.

Source: Telefónica