Commonwealth Club Of California Podcast

When Americans think about Mexico, many things may come to mind—complexities around immigration, perhaps, or travel involving beaches and food. Technology and innovation are probably not on that list, but increasingly a new reality is taking hold across Mexico: a growing technology and innovation sector with strong links to Silicon Valley and Bay Area investors, entrepreneurs and companies. Mexico’s young venture capital industry is growing rapidly. From $55 million in 2010, annual investment has grown to more than $1 billion. Softbank’s $5 billion Innovation Fund, created several years ago to invest in Latin America, was a turning point that put Mexico on the global venture map. Now the country boasts unicorns and fast-growing startups. More are on the way, supported by universities, accelerators and by large tech and startup conferences in cities such as Guadalajara and Monterrey. The roots of Mexico’s economic and cultural ties with the Bay Area run exceptionally deep, dating to Spain’s settlement of Calif