Argentina
Buenos Aires
"Buenos Aires has a diverse economy, a strategic location in Latin America, a qualified workforce, a solid financial infrastructure and a welcoming investment policy, making it an attractive destination to found, scale and invest in a startup."
Highlights
Argentina’s cosmopolitan capital city, Buenos Aires is a lively and innovative tech hub with a global spirit. Argentina has one of the highest number of unicorns per capita in Latin America including Buenos Aires-based Ualá, a Fintech with over five million users across Argentina, Mexico, and Colombia. Argentina is also the birthplace of MercadoLibre, the biggest Ecommerce platform in Latin America, with 668 million visits per month across 18 countries.
Startup Buenos Aires supports entrepreneurs in the region through a dedicated resource center, education, and advice for startup growth and innovation. Buenos Aires Innovation Park is a campus intended to bring together public and private institutions dedicated to innovation, higher education, and applied scientific research.
The La Plata Free Trade Zone, which includes a port and logistics hub, allows companies operating within the zone to enjoy benefits including no customs duties and no value-added tax on imported goods. Buenos Aires-based Newtopia is a VC firm founded by entrepreneurs that invests in Latin American founders. Investment fund Troopa supports Buenos Aires-based startups with coaching, legal advice, English language training, and A/B testing.
Buenos Aires will host the International Conference on Science, Engineering & Technology in July 2024. The bitcoin++ conference took place in February 2024. The 19th Global Conference on Sustainable Manufacturing was held in December 2023. Renewable energy generation company Genneia raised $85 million in a February 2023 round.
Ecosystem by the Numbers
Sub-Sector Strengths
Blockchain
QuarkID, a blockchain-based digital identity protocol developed by the company Web3 Extrimian, launched in Buenos Aires in October 2023, allowing citizens to manage the delivery of their credentials when interacting with the government, companies, and other individuals. LABITCONF, the world’s oldest Bitcoin and blockchain event, was held in Buenos Aires in November 2023. Blockchain integration firm IOF Company raised $1.5 million in an October 2023 seed round.
Fintech
In 2023, there were 343 Fintech startups in Argentina that collectively attracted close to $1 billion in funding. Supported by Fintech startups including Mercado Pago, Argentina reached 99% coverage for bank accounts held by adults aged 18 and over in 2023. In December 2023, Buenos Aires-based Fintech unicorn Ualá launched the first no-fee credit card in Argentina.
Agtech & New Food
Brazilian agritech association ConectarAGRO looks to identify potential digital transformation solutions in the agricultural sector, and has outlined plans to establish a sister organization in Argentina. Expoagro 2024 was held in Buenos Aires in March. Tomorrow Foods develops plant-based ingredients and has raised $6.4 million over three rounds to date.
Reasons to Move Your Startup to Buenos Aires
Tech Talent
Argentina provides tuition-free access to local schools and universities, generating a strong pipeline of talent. Ten universities in Buenos Aires appeared in the QS World University Rankings 2024. The Universidad de Buenos Aires ranked #7 in the QS Latin America and the Caribbean Rankings. With a high level of English fluency, the city is quickly becoming a hub for outsourcing tech teams.
International Community
A cosmopolitan cultural hub with highly ranked universities, Buenos Aires is a magnet for international students. It is the regional headquarters of over 30 global companies including Google, Salesforce, and IBM. Argentina offers a digital nomad visa that allows remote workers to stay in the country for six months and is renewable for six more.
Convenient Location
Buenos Aires is just one hour ahead of New York, four hours behind London, and four hours ahead of Silicon Valley, making it a strategic location for teams working remotely or serving a variety of international clients. Its convenient location makes Buenos Aires the largest source of nearshore developers in Argentina.
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