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Latin America Reports: The Podcast
Marcela Torres is the former CEO of Hola Code, a Mexican social enterprise that provides software development training for refugees and migrants who have returned to Mexico after having lived in the U.S. She was recently named winner of the ‘Entrepreneur’ category in the list of Latin America’s top innovators under the age of 35 published by MIT Technology Review. In honour of the International Day of Women and Girls in Science earlier this month, we interviewed Torres about being a female CEO of a tech company in Latin America, a region lacking support and funding for women working in STEM.
LATEST NEWS
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This week’s 100K LatAm highlights the future of tech innovation in Latin America
Fifteen finalists for the decorated 100K LatAm competition will square off on Tuesday to award the Latin American startups with the most promising ideas. Winners will be chosen according to three categories: pitch, accelerate and launch, as a team of judges made up of entrepreneurs and those in the startup industry rank their favorites. Each startup is judged off its ability to leave a major impact on the region’s health, environment and economy, among other areas. The annual competition is run by the Technical Institute of Buenos Aires (ITBA) in conjunction with the Massachusetts Institute of Technology’s (MIT) Sloan Latin […]Read more...
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Could tech be Colombia’s ticket to economic recovery?
Colombian President Iván Duque has repeatedly said during his time in office that he wants the Adean country to be known as the Silicon Valley of Latin America. Often pointing to the success of a unicorn startup like Rappi, the popular food delivery app now valued at more than $3.5 billion, Duque has made it clear he is all in on tech to provide the economic boost he’s promised ever since coming into office in 2018. But will it be enough in a country where nearly one in every five people are without jobs? The Duque government has promised long-term […]Read more...
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Is a Green New Deal possible in Latin America?
The coronavirus pandemic’s devastating effect on poor and minority populations has given even more credibility to the idea of a Green New Deal in the U.S. But progressive policies that prioritize the environment and look to shift economic power should not just be limited to North America. Latin America and the Caribbean countries can also look towards the legislative proposal up north to provide a roadmap to more equal and just societies that actively account for climate change, according to experts and scholars in the region. But certainly, a huge shift would have to happen before Latin America enters into […]Read more...
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Venezuela’s mistreatment of returnees may be intensifying COVID-19 spread
Venezuela is abusing exiles who have had to return to the country during the coronavirus pandemic, which could be leading to heightened transmission of COVID-19 in the South American country, according to a report from Human Rights Watch and Johns Hopkins University. In the joint report, researchers found the quarantine centers where returnees are being required to stay had severe shortages of food, water, and medical attention. Delays in testing are reportedly keeping people in these quarantine sites longer than the recommended 14 days and risking higher rates of transmission. Officials have said that more than 100,000 Venezuelans have come […]Read more...
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Argentina to incentivize tech sector in hopes of boosting recovery
On Friday, Argentina’s congress passed a bill that is slated to provide tax incentives for tech startups and industry mainstays in hopes of stimulating economic recovery. The tax boosts are slated to last for 10 years and are meant to spur on hiring to turnaround the country’s unemployment figures. The measure could double employment numbers over the next decade, Argentina officials said, and is also expected to increase exports from the tech sector by $4 billion. “There’s absolute agreement among all political parties about the relevance of this sector,” Production Minister Matias Kulfas told Bloomberg on Friday. “The pandemic is […]Read more...
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Latin America in need of immediate stimulus measures, UN report says
Latin American and Caribbean governments will need to provide sustained stimulus efforts to get out of the economic crisis caused by the coronavirus pandemic, a new report from the United Nations suggests. The study released Tuesday by the UN’s Economic Commission for Latin America and the Caribbean (ECLAC) said the region will require “expansionary fiscal policies” to help keep economies afloat. “International cooperation is key to amplifying the space for macroeconomic policies,” said ECLAC Secretary-General Alicia Bárcena. The report noted that the countries of Latin America and the Caribbean are expected to contract by an average of 9.1 percent, which […]Read more...
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Used-car startup Kavak now Mexico’s first unicorn
The Mexican startup Kavak has reached a $1.15 billion evaluation, becoming the country’s first unicorn. The rarefied designation follows a successful September investment round and the used car startup has now raised more than $400 million since it was founded just four years ago. Kavak is the latest Soft Bank investment to become a unicorn – a tech company valued at a billion dollars or more – in Latin America, following Colombia’s Rappi and the Brazilian companies Loggi and Gympass. The Japanese investor has promised to put $5 billion worth of capital into tech companies throughout the region. “We’re very […]Read more...
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34 million jobs lost in Latin America due to pandemic
An estimated 34 million jobs have been lost across Latin America and the Caribbean so far due to the coronavirus pandemic, according to a Wednesday report from the International Labor Organization (ILO). No other region in the world has been as adversely affected as Latin America in terms of incomes lost. Unsurprisingly, it has also been the hardest hit region in terms of infections as there have been 9.3 million coronavirus cases and more than 345,000 deaths reported from the virus to date. The ILO, which is an agency of the United Nations, said in its report that up to […]Read more...
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Latin American economies opening back up despite expert warnings
Peruvian President Martin Vizcarra said Friday that the Andean country will resume with a gradual reopening of the economy in October. Peru will begin accepting international flights again and allow 50 percent capacity in restaurants, although bars and movie theaters will stay closed. This is just the latest case of a Latin American country announcing reopening plans despite expert warnings that countries in the region are doing so too soon. The World Health Organization’s Regional Director Carissa Etienne said recently that governments in Latin America should be careful with their reopening strategies. “Although the entire world is racing to develop […]Read more...
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Public sentiment turning against migrants in Latin America, per new index
Nowhere in the world has public sentiment turned more significantly against migrants than in Latin America, according to a new poll. The Migrant Acceptance Index released Wednesday by Gallup shows that public opinion in Colombia, Ecuador and Peru has taken a negative view towards migrants. Each of the three countries has seen the arrival of millions of Venezuelan migrants in recent years. “Initially, many of the migrants and refugees were welcomed in these countries, but public sentiment started to turn against them as their economies, and their health, education and social assistance programs buckled under the strain,” the report read. […]Read more...
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Q&A: How one Latin American startup is using tech to help hotels keep profits during the COVID-19 pandemic
It’s no secret that the tourism industry in Latin America has been flattened by COVID-19, as the industry is expected to suffer $230 billion in revenue drain and more than 12 million job losses throughout the region, according to Reuters. In Colombia, around 80 percent of hotels were closed before the country reopened and the national hotel association reported a 14 percent occupancy at hotels in July, which is about 50 percent lower than pre-pandemic rates. The hotel industry in Colombia and other countries in the region could take at least two years to fully recover. In the meantime, some […]Read more...
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Women in Latin America facing increased violence during pandemic
Women’s activists in Mexico took over the country’s National Human Rights Commission building Tuesday in protest of their government’s handling of abuse and violence against women. Dozens of activists have refused to leave the building and are saying they will turn the Mexico City building into a shelter for victims to make up for decades of murders and abuse, according to the Associated Press. The event shows the dire situation facing women in Latin America, who have been more exposed than ever to domestic violence and murder. If we think of COVID-19 as a threat multiplier of existing social and […]Read more...
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Funding continues to boom for Latin America’s fintech industry
Major financial technology firms in Latin America have reported at least $8 billion in funding up to this point, according to the inaugural 2020 Latam Fintech Report from KoreFusion. The recent report done by the San Francisco-based consulting firm on the state of Latin America fintech firms showed the immense growth of the fintech sector in key markets throughout the region. The report looked at 1,075 fintech companies in the five major markets of Argentina, Brazil, Chile, Colombia and Mexico. The categories of fintech firms in the analysis included crowdfunding, digital banks, lending and payment operations, among others. B2B financial […]Read more...
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Unemployment rises across Latin America as COVID-19 continues to hammer economies
For decades, the region had success in lifting people out of poverty, as impoverished rates had fallen to about 30 percent recently. Unfortunately, that progress is sure to be reversed as the COVID-19 pandemic is set to bring a historic recession to Latin America and widen the wealth inequality gap even further. The mobilization of poorer people to the middle class is a road that may no longer exist for many in Latin America, as regional leaders and organizations still need to coordinate on needed stimulus efforts that could help keep people afloat. In all, Latin America is at risk […]Read more...
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Former presidents of LatAm countries push back at Trump’s pick for Inter-American Development Bank Chief
Six former presidents of Latin American countries and Spain released a letter Wednesday calling for the postponement of the Inter-American Development Bank’s election for its next president. The call for a suspension in the vote comes as an unprecedented appointment from the United States is set to take charge of the bank for the first time. U.S. President Donald Trump has previously nominated his Latin American adviser Mauricio Claver-Carone, which has been met with criticism across the Americas. That’s because the regional development bank has always run on the agreement that a Latin American official would serve as its president […]Read more...
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How innovative tech is combating COVID-19 across Latin America
As Latin America finds itself as the world’s current coronavirus hotspot, tech companies and governments are working together to slow the spread and help patients in need. There have been more than 3.4 million cases in Brazil alone, second in global case count only to the United States. Elsewhere in the region, Peru and Chile have faced high death rates and cases continue to climb in Colombia in Mexico. Here’s a look at some notable tech innovations that a few countries in Latin America are using to negate the pandemic’s impact. Colombia In Colombia, tech monitoring has allowed people to […]Read more...
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Neglected by govt, Brazilian favela organizations take COVID-19 data collection into their own hands
The Brazilian government has been accused of under reporting case numbers of COVID-19 in Rio de Janeiro’s favelas, which are particularly vulnerable to the spread of the virus. In response, a local NGO has partnered up with other community organizations to collect their own data and display it on a unified dashboard.Read more...
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How emerging fintech can help Latin America deal with the challenges of COVID-19
Latin America has long suffered from economic instability, inequality and financial exclusion. The region’s economy has grown less than one percent per year since 2014, and Venezuela – once South America’s richest country – has a hyperinflation rate of 19,900 percent. Access to banking is a critical issue for everyday people in Latin America, where only 51 percent of the population have bank accounts at a formal financial institution. The sudden onset of the COVID-19 pandemic has therefore placed heavy strain on the region’s economies. As businesses are forced to adapt or close, more than two-thirds of business executives in […]Read more...
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Publicize launches bartering platform to aid entrepreneurs and startups in times of constraints
Publicize, the PR agency for tech sector startups, today announces the launch of the Publicize Swap Shop. This free-to-use online marketplace creates an alternative way for businesses and entrepreneurs worldwide to access products and services through an exchange system. The internationally available online platform contains a feed with offers and requests that have been posted. Swappers who have something to offer first need to create an account and publish the details of the offer, along with a suggested ‘ask’ of what they need in return, if anything. Anyone can browse the platform and the deals that are on offer. Once […]Read more...
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An interview with Mobile Growth Summit CEO: Mobile marketing looks to Latin America despite COVID-19 challenges
In mid-February, SoftBank announced that it would to continue to invest in its $5 billion dollar Latin America Fund, pledging $1 billion just in the year 2020. SoftBank’s renewed commitment to the Fund, which was launched in 2019, is further proof that the Latin American market is ripe with potential, particularly in the e-commerce, health tech, and fintech industries. It’s likely that this investment wave is following another trend in the region, the rapid adoption of mobile technology. According to a survey published by Statista, the share of the population in Latin America who has access to a mobile phone […]Read more...
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How fame impacts Barranquilla’s carnival kids
Miranda Torres, aged 11, and Isaac Rodríguez, aged 10, were Queen and King of this year’s Children’s Carnival (Carnaval de los Niños) in Barranquilla, Colombia. Their televised coronation consisted of an hour-long performance featuring nearly 500 young dancers and over a dozen folkloric dance troupes, which took place the weekend before the main carnival celebrations. Much like their adult counterparts, the children’s duties begin long before carnival weekend. They have an agenda of events to attend, which begins up to four months before carnival starts. It includes official visits to schools, hospitals, community organizations, prisons, and some of the poorer […]Read more...
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Colombia’s government is digitalizing social inclusion, expanding connectivity
Colombia’s Ministry of Information Technologies and Communications (MinTic) is currently rolling out a three-pronged digitalization strategy to encourage the social and economic inclusion of marginalized population groups in Colombia. These groups include indigenous communities, Afro-Colombians, Romani communities, Raizal groups of the San Andres Archipelago, and the Palanquero groups of Colombia’s Caribbean coast. According to Iván Antonio Mantilla Gaviria, Colombia’s Vice Minister for Connectivity and Digitalization, they have been historically excluded from the country’s social fabric and public policy. “These communities have not been favored in our country’s history” — Colombia’s Vice Minister for Connectivity and Digitalization A 2018 census carried out by […]Read more...
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Female STEMpreneurs in Latin America look for financial support and guidance
María Isabel Amorín, from Guatemala, and Bárbara Tomadoni, from Argentina, were two of the nine female STEMpreneurs recognized by the MIT Technology Review’s Innovators Under 35 for advancement in the fields of science, technology, engineering, and mathematics (STEM) in Latin America. As science enthusiasts from a young age, they have both dedicated their lives to building a career in the STEM sector. However, Tomadon and Amorín, winners of the ‘pioneer’ and ‘entrepreneur’ categories respectively, are more likely to be exceptions than the rule as it pertains to female representation in STEM in Latin America. Tomadoni, who was shocked at the […]Read more...
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MIT Technology Review announces the winners of Innovators Under 35 LATAM
Solar panels derived from micro-algae, a program that gives migrants the opportunity to learn how to code, and a way to use discarded prawn shells to help remove polluting textile dyes from waterways were just some of the projects recognized at MIT Technology Review’s Innovators under 35 Latin America 2019 last week. At the awards ceremony, which was held on January 30 at Mexico City’s Parks BBVA Polanco, 35 finalists were given the opportunity to introduce themselves and their projects. Five winners were chosen from the pool, and will go on to compete in MIT Technology Review’s Global awards. “This […]Read more...
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What’s driving global tech companies to Latin America
Global tech companies are focusing on expansion in Latin America, a sign that the region is ripe with opportunity for market growth and innovation. Latin America’s tech sector has made a name for itself with star startups such as the Colombian unicorn, Rappi, the Brazilian online food delivery platform, iFood, and the Panama-based hospitality brand, Selina. Now, global tech companies see Latin America as the place to focus their expansion. Below are a few key reasons why Latin America offers significant growth potential for global tech companies. 1. Expansive mobile Internet connectivity Internet connectivity is essential for tech company success, and Latin […]Read more...
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Helena Gualinga is a voice for indigenous communities in the fight against climate change
When climate activist Helena Gualinga was a child, she lived in fear of not being able to return to the place she calls home: the Sarayaku indigenous community, located deep in the Ecuadorian Amazon. Living between Finland and Ecuador, Gualinga spent years and months at a time in the community throughout her childhood, and each time she left to go back to Finland, she worried that extractive industries would destroy the land. Ecuador’s indigenous Sarayaku community is one of over 800 indigenous communities in Latin America. It is small in size, made up of approximately 1,500 people who live so […]Read more...
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Why Bolsonaro is “curating” Brazil’s culture
When Roberto Alvim was hired by President Jair Bolsonaro as Brazil’s Special Secretary of Culture in November 2019, Bolsonaro asked him to create a culture that did not “destroy,” but rather “saved” Brazilian youth. In a speech he published on social media on January 16, Alvim pledged to consider “the fatherland, family, bravery of [Brazilian] people, and their profound connection with God” when putting together public cultural policy. Alvim vowed that the art Brazil would produce under his leadership would be “heroic and national.” His use of these words, which echoed those of Adolf Hitler’s culture minister Joseph Gobbels, triggered […]Read more...
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How one Venezuelan entrepreneur intends to rescue the shoe industry
The footwear industry has a disproportionately large carbon footprint. Combined with apparel, the two industries generated between five and 10 percent of global pollution impacts in 2016, according to sustainability metrics published by Quantis International. The lifecycle of a shoe begins with the extraction of raw materials, which are then processed and then used to manufacture the shoe itself. The footwear is then assembled, packaged, and transported to its sale destination and then eventually disposed of by its owner when it becomes either damaged or unwanted. Footwear manufacturing methods — such as stitching, glueing and welding — have existed for […]Read more...
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MIT Technology Review reveals 2019 list of Innovators Under 35 LATAM
Earlier this week, the MIT Technology Review published its 2019 list of Latin America’s most innovative young people under the age of 35. The list includes men and women who hail from 11 countries and whose projects cover a wide spectrum of topics ranging from biotechnology, medicine, sustainability, artificial intelligence, software and hardware. For over 10 years, the MIT Tech Review, founded in 1899, has partnered with the Spanish-based global consultancy firm Opinno (short for “open innovation”) to mine the Latin American region for its most innovative young minds . In a conversation with Latin America Reports, the Mexico-based Latin America […]Read more...
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How the town behind Colombia’s most iconic ‘sombrero’ can cash in on the Orange Economy
The sombrero vueltiao is arguably the most emblematic piece of fashion to come from Colombia. They adorn the walls in every gift shop in the country. In major Colombian cities like Bogota and Medellín, vendors can be seen hawking these hats among a jumble of key chains and t-shirts. In rural areas, farmers and townspeople alike shield their faces from the sun by brandishing the iconic hat on their trips into the town square. Next to the fluorescent yellow of the Colombian National soccer team jersey, nothing encompasses “Colombia” in one article of clothing more than this hat. Despite how […]Read more...
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Uber’s departure from Colombia sparks debate over app regulation
Colombia’s Superintendence of Industry and Commerce ruled last week that the multinational ride-hailing app Uber is operating “unfairly,” forcing it to cease operations in the country. The court’s decision means that on February 1, Colombia will become the first country in Latin America to lose access to Uber, although the food delivery platform UberEats will continue to operate. The lawsuit against Uber was originally filed by the Colombian taxi union Cotech, which had been campaigning against Uber for years. Cotech claimed that the app was “dishonestly” diverting customers away from hailing the nation’s trusty yellow cabs, giving Uber drivers an […]Read more...
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Mexico City to host MIT Technology Review’s Innovators Under 35
On January, 30, one of the largest global communities of innovators, pioneers, and social change agents will come together for the 30th edition of Innovators Under 35 in Latin America. The finalists will be announced a week before the event is hosted in Mexico City, Mexico at the BBVA tower. Each year, MIT Technology Review publishes a list of 35 innovative young people who are behind projects and initiatives that are aiming to solve the world’s most pressing problems, through technology and innovation. This year, Mexico is one of the Latin American countries with the largest number of innovators on […]Read more...
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What does Guaidó’s National Assembly repossession mean for Venezuela?
Self-declared interim president of Venezuela Juan Guaidó and his supporters managed to successfully storm Venezuela’s National Assembly on Tuesday, January 7. Two days prior, their entry into parliament had been blocked by members of Venezuela’s armed forces — sympathetic to President Nicolás Maduro — before the elections for a new Speaker of the chamber were due to take place. Read more: Who is Venezuela’s new parliamentary speaker? In retaliation to Sunday’s events, which he described as a “coup d’etat,” Guaidó made a point of returning to fight through the Maduro-sympathizing security forces — megaphone in hand — and force his […]Read more...
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Who is Venezuela’s new parliamentary speaker?
Self-declared Venezuelan interim president Juan Guaidó and his ally-turned-competitor Luis Parra have both declared themselves Speaker of the country’s Parliament in elections for the role that took place this Sunday, January 5. Reports of the day’s events vary, but photo evidence shows that as voting was due to take place, members of Venezuela’s National Guard — sympathetic to President Maduro — and Guaidó’s opponents blocked his entry into the National Assembly. At one point, videos shared on social media show Guaidó attempting — unsuccessfully — to climb over a fence and force entry into the building. As a result, Guaidó […]Read more...
