There’s room for a twentyfold increase in VC investment in LAC deep tech startups, report says
Anna Heim
19 hours
The Tesla Gigafactory planned to be built in Mexico should be seen, Bloomberg argues, “as a graduation moment for Mexican manufacturing.” And there’s hope that the CHIPS bill, which President Joe Biden promoted to supercharge semiconductor production in the U.S., will benefit its southern neighbor as well.
While the prospect of new factories and more jobs is good news for Mexico, the country and its Latin American and Caribbean (LAC) peers can harbor higher hopes when it comes to deep tech, a new report posits.
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Titled “Deep Tech: The New Wave” and created in collaboration with the Inter-American Development Bank’s innovation laboratory (IDB Lab), the report concludes that there is room for a twentyfold increase in VC investment into LAC deep tech startups over the next decade.
While such projections are always open for debate, the reasoning and data behind this conclusion are worth looking into.
Diving deep
What “deep tech” means changes according to who’s using it. The consulting firm behind this report, Surfing Tsunamis, used this definition by Propel(x) CEO Swati Chaturvedi:
Deep technology companies are built on tangible scientific discoveries or engineering innovations. They are trying to solve big issues that really affect the world around them. For exampl …
