Entrepreneurship + R&D

Mexico is considered to be at the leading edge of Latin America in terms of innovation in business modelling, with a mature tech sector installed in clusters across Mexico City, Monterrey and Guadalajara. Furthermore, it has a second tier of smaller cities housing start-ups that apply technology to a number of sectors, from automotive, aviation and banking, to renewable energy and urban mobility. However, the country’s investment in research and development (R&D) is below the global average. The private sector looks set to take the lead in R&D investment, with the current government announcing a 13.6% cut to the 2019 budget for science and technology. Moreover, a legislative proposal for a new federal science and technology law is being studied. It is hoped that the reform will change the way policies are designed and implemented. It is also intended to spur investment and secure investor confidence.