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Uruguay Strengthens its Position Daily in the LATAM Startup Ecosystem

Setting up a business in Uruguay means giving life to your business idea in an ecosystem of incubators, accelerators, universities, innovation centers, public organizations at the service of entrepreneurs, collaborative workspaces, and highly qualified talent.

With just over 3.5 million inhabitants, the country is well-positioned to become a leader in Latin America. Uruguay ranks 6th among Latin American countries in terms of startup ecosystems, and 61st worldwide.

With the recent launch of the Uruguay Innova program, the country is strengthening its knowledge base to achieve equitable growth. The initiative seeks to transform science, innovation, and technology into key engines of national development.

With government agencies like ANII, ANDE and Uruguay XXI driving growth alongside the support of international accelerators, the country is set to play a key role in launching innovative startups that are global, sustainable, stable, and cutting-edge, while upholding strong values of inclusion, environmental stewardship, and long-term sustainability.

Montevideo, the capital city, is the epicenter of the ecosystem, home to the country’s leading startups, investors, public-private support initiatives, and other key players. Recognized by MIT experts as the most collaborative entrepreneurial ecosystem in the region, Montevideo is expanding its networked and coordinated approach across the entire country.

“The city of Montevideo has a solid foundation to be recognized as an innovation-based entrepreneurial ecosystem, a reference in Latin America.”

Source: GED & MIT D-LAB (August 2020)

Through the Uruguay Emprendedor Network, the ecosystem has national coverage. Different institutions that support entrepreneurship in its different stages are part of the Network to articulate actions, bring together available resources and improve opportunities for entrepreneurship in any part of Uruguay. Having the support of one of these institutions ensures the support of the entire ecosystem.

Manoela da Costa Moschem - CEO Vila da Mônica Gramado & Founder of Holy Investment Group

“The business climate in Uruguay is very positive and continuously growing. People here are remarkably visionary, and there’s a shared understanding that success stems from that vision. I’ve witnessed Montevideo’s growth and dynamism, with significant investment and strong synergies. There’s clear potential to engage with investors and entrepreneurs, and our outlook is highly optimistic.”