an option increasingly chosen by Latin American startups

A few days ago, the latest version of the report “Startup Dynamics” prepared by Rebelius was published. It is one of the most relevant studies in this field, as it provides a comprehensive overview of the startup ecosystem in Latin America and assesses the level of development of the various markets, identifying trends and good practices,

The study, conducted between July and December 2023, included 106 startups, 1,650 employees, 11 countries, and included a special section on the internationalization of businesses, as well as the main factors behind their success.

In this sense, the fact that 59% of startups state that they have achieved some degree of internationalization and operate in more than one country in the region stands out. Moreover, all small startups (less than 10 employees) intend to go international, in contrast to 70% of large startups (more than 25 employees), which choose to attract foreign capital.

These figures show a paradigm shift in Latham as businesses have a global mindset from the start and are more aware of the importance of developing robust internationalization strategies, ensuring the scalability of their products and maintaining the necessary flexibility to adapt to these new directions. . The desire to expand outside the country also shows that startups create innovative and applicable solutions in different contexts with proven business models, able to find demand in new markets and thus diversify risks.

Today, founders recognize that the key to internationalization success goes beyond the business realm and understand the value of building communities and making connections. This is recognized in the report, which cites good networks and local support (32%), product scalability (29%), flexibility in solving problems (19%) and knowledge of country regulations and culture (10%) as favorable aspects of this process. But in addition, it is very important to have a comprehensive strategy that allows the company to triumphantly overcome this problem and familiarize itself with the legal norms of the selected countries, which is very important to avoid legal and operational risks. Here, the largest enterprises are in the lead, having 100% knowledge, compared to 62%, which the smallest ones admit.

When advising others to expand, the top tips from founders are based on finding support from organizations or customers (30%), knowing how the market works (27%) and having a scalable product (22%). In addition, 79% of the mentions emphasize the need for planning that provides a balance between the global and the local.

The Rebelius report confirms a reality that those of us who are part of the startup ecosystem in the region are seeing with more certainty every day. Companies are more open to growing in international markets after gaining experience in their home country. But let’s not forget that the internationalization of a startup is not a guarantee of immediate results, and therefore it is very important to ask for expert support so that these plans become something concrete and predictable over time, together with the development of preliminary strategies and a broad and adaptive vision to increase the chances of success

  • The content expressed in this opinion column is the sole responsibility of its author and does not necessarily reflect an editorial line or position Counter.

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