Ecosystem Deep Dives #25: Argentina - Constant Paradox
While the country seemingly has everything it needs to succeed, deep-rooted institutional glitches still hinder it from reaching its full potential.
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Argentina was LATAM’s quintessential tech spot in the 90’s. During the decade’s tech bubble, most of LATAM’s VC funding went to the capital city of Buenos Aires, giving birth to pioneering Argentinian successes such as Globant, Despegar, and arguably the continent’s most successful start-up to date, MercadoLibre.
The fact that Argentina was the indubitable trailblazer in LATAM’s start-up emergence while simultaneously being associated with catastrophic economic management points to the “constant paradox” referred to in the article title. A country that seemingly has all the tools it needs to succeed, but yet can’t seem to get rid of its chronic case of inflationary disease. I believe the recent boom of the Argentinian start-up ecosystem might provide a sliver of hope, or at least, another way of looking at problems.
Indeed, the Argentinian start-up ecosystem has started to capitalize on the strengths its country has to offer. A cosmopolitan and high-quality talent pool, a strong connection to global tech giants, and a true desire to tackle old problems with new tools (ie:crypto) all make start-up opportunities rife in the land of the gauchos.