Even though they are smaller markets, tech-based entrepreneurship is also taking off in Colombia and Chile.
"While the startup environment in Colombia is still nascent, it's growing quickly given the emergence of co-working spaces and local accelerators," says Nicolai Bezsonoff, the co-founder of the startup .CO internet which has Colombian origins. However, the lack of local startup funding and technical skills pose significant challenges to future growth.
Meanwhile, Miami, which is often referred to as the capital of Latin America is also vying to become a tech hub for the region. According to Bezsonoff who is based in the city, Miami has set up the right ingredients including, "an angel investor community, mentors, co-working spaces and local talent."
"The emphasis of universities like UM [the University of Miami] and local business groups…to build out the startup eco system will help boost the Miami start scene even more."
Miami also provides a clear rules system and is becoming a gateway to the fast-growing U.S. Hispanic market.
The tech revolution is rapidly breaking down barriers in the Americas. The innovation centers in California, New York, and Miami are providing examples, mentors and investors while Latin America provides new markets, new ideas and cost efficiencies. Nonetheless, it is a competitive market and there are challenges ahead. Latin America's tech revolution is just getting started. Stay tuned.