A number of new “Silicon Valleys” have been declared around Latin America that point to a bright future for innovation in the region.

One glimmer of hope among the unimaginable horror of a global pandemic that had already claimed almost 1.9 million lives worldwide can be seen in how some Latin American entrepreneurs have responded to the crisis, adapting to a “new normal” of increased digitization -- and in many cases facilitating that shift.

A major component of the positive outlook on the future economy of Latin America is the rise in venture builders. The region’s startup economy is thriving thanks to their innovations, not only in tech, but also in the business models they employ.

Many Latin American startups lost funding opportunities and are not sufficiently supported by government initiatives in the midst of COVID-19. Despite this, the start-up community remains resilient and innovative with fully virtual accelerator events carried out in different countries across the region.

As Covid-19 lockdown restrictions in certain parts of Latin America begin to ease, stories are being unveiled about those companies that survived the storm and even increased their profitability.

Colombia is positioned as one of Latin America's most viable markets for startups. Read about SME and startup activity in Colombia.