Mind Blowing Technology That is Saving Our World

The popularity, frequency and saturation of start-up companies is a direct by-product of the dot-com/tech bubble, and an indirect response to a changing economy. There are numerous reasons for larger companies to invest in smaller start-ups, ranging from being on top of the next big thing, to helping stimulate the economy and contribute to innovations made in various industries. That said, some geographic locations are better suited for the birth of a start-up than others.

Geekwire mapped out the top 10 cities for startups in the United States and the top three were as follows: 3. Seattle, WA. 2. Austin, TX and, of course, 1. San Francisco, CA. While we’ve been formidable opponents in the startup race for quite some time, a new competitor from warmer climes might be joining the ranks soon.

Last month the accelerator program “Start-Up Chile” announced a new initiative referred to as Generation Ten. Generation Ten is a newly groomed crop of nearly 100 startups poised to take over Santiago later this summer. Pioneering in yet another area, Start-Up Chile is the first state-sponsored seed fund program to come out of South America, starting a growing trend over the past few years. Other programs have drawn inspiration from this model and given birth to Incubar and Startup BA in Argentina, iNNpulsa in Colombia, Start-Up Peru in Lima and numerous others peppered across the continent.

But all that glitters isn’t gold. Atart-ups in Latin American countries have their own set of challenges to overcome. For one thing, the retention rate of newly founded companies is shockingly (or not so shockingly) low. Companies idealized in South America take advantage of the resources available from their respective startup programs, but many of them find themselves moving on once they’ve gained a working business model and enough traction to attract their own investors. TechCrunch reports that after completing six months in an incubator program, nearly 80 percent of entrepreneurs leave Chile, with 34 percent of them settling themselves in the U.S. That said, Generation Ten is the first group where Chilean entrepreneurs are the majority.

Another problem facing the South American start-up economy is one that’s actually more subjective than an identified threat. The concept and business of start-up groups was at one time an inspiration of its own, but it would seem that entire business models are being “recycled,” if you will, in the Latin American markets. One example given would be the successful (and clutch) OpenTable program, which has now been implemented in Latin America as Restorando. On one hand some might argue the merits of this tactic saying it’s not innovative or ethical, and others saying that even OpenTable was an adaptation of some form of service that was previously available and that the innovation comes from making it work in an entirely different environment.


Whatever your stance on the OpenTable/Restorando debate there’s absolutely no questioning the fact that other regions are getting in on the excitement and profitability of small business investments. I’d actually like to see more American adaptations of successful companies already at work in foreign markets.

News Source: http://www.sitepronews.com/2014/08/07/mind-blowing-technology-saving-world/