May 2017

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L atin America has had its challenges with business growth over the last decade, but when it comes to fostering a startup culture, it gets high marks. Today, this region is home to one of the most dynamic and innovative startup ecosystems in the world. Increased internet and smartphone adoption in the region is fueling the activity. The World Bank reports that around 98 percent of the region's inhab- itants have a mobile cell signal, and 84 percent of Latin American households subscribe to some type of mobile service. Most Latin Americans spend more time on their mobile devices than on computers, and mobile subscriptions have risen in the last few years from 12 percent to 115 percent, with the average Latin American possessing 18 apps on his or her smartphone. World Bank Vice President for Sustainable Development Rachel Kyte says, "Mobile communications off er major opportunities to advance human and economic development—from providing basic access to health information to making cash payments, spurring job creation, and stimulating citizen involvement in democratic processes." Starting UP i The market is ripe for a pioneering spirit By Nicole Black, GMS

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