Brazilian Investors Discover Uruguay’s Thriving Technological Ecosystem

The investment promotion agency, Uruguay XXI, in alliance with Cissa Lugris Klein of Hous Of Creativity (HOC) and the collaboration of Uruguay Innovation Hub and the Uruguayan Chamber of Information Technology (CUTI), facilitated the arrival of an outstanding delegation of entrepreneurs and investors from Rio Grande do Sul, Brazil. They participated in the sixteenth edition of the Punta Tech Meetup, held in Punta del Este on January 15, allowing them to explore Uruguay’s robust technological ecosystem.

The Punta Tech Meetup, already established as the most important technological meeting of the southern summer, took place at the Museo de Arte Contemporáneo Atchugarry (MACA) in Manantiales (Maldonado, Uruguay) bringing together over 1,500 people from different parts of the world. Entrepreneurs, investors, and executives from leading regional companies enjoyed keynote lectures and a first-class networking space.

In this context, the Brazilian delegation was able to learn why Uruguay is positioned as a first-class business center in the region and why it is the most advanced Latin American country in the development of Information and Communication Technologies (ICT) and holds the title of the largest per capita exporter of software in South America.

Punta Tech was the scene of important announcements

During the Welcoming Cocktail, U.S. authorities and representatives from Uruguay Innovation Hub announced the creation of a regional startup accelerator covering the 12 countries of the Alliance for Economic Prosperity in the Americas (APEP).

The W Meetup, held on the morning of January 15, highlighted the participation of leading women in the Latin American technology industry, such as investor Eva Alonso of Ribbit Capital and Suzy Ferreira, founder of Dinie. Both visited Uruguay for the first time and expressed that it was “love at first sight.”

The presence of Damaris Mendoza, Mexican leader of investor relations for 500 Global in Latam, emphasized the growing attraction of Uruguay as an investment destination.

“We want to take that step and arrive with capital injection. We also want to generate important relationships with the ecosystem to attract local investors, and they can present projects to us,” Mendoza told the newspaper El País.

Responding to Uruguay XXI, the investor explained that Uruguay possesses much entrepreneurial talent. “It has a market that might seem small, but that has always forced them to think with a regional or global vision from very early on, and that is an exciting generator,” she clarified.

“We always invite to see Uruguay as a geography where companies can consolidate their expansion and continue to grow. Here we see talent, opportunity, and happily, a capital ecosystem that has never failed to put a spotlight,” she said.

Synergies between Brazil and Uruguay

Taking advantage of the environment generated by Punta Tech, on January 15, the Brazilian delegation participated in an exclusive activity at the Enjoy Hotel. Together with the executive director of Uruguay XXI, Sebastián Risso, and the executive director of Uruguay Innovation Hub, Sabrina Sauksteliskis, they discovered why Uruguay is an outstanding destination for foreign investment.

Risso and Sauksteliskis highlighted Uruguay’s clear rules, transparency, reliability, and stability as strengths for long-term business. They also mentioned the excellent quality of life offered by Uruguay and the favorable regulations that cover both domestic and foreign investors. Additionally, they referred to Uruguay’s thriving technology industry and its innovative character enhanced by new and long-standing initiatives such as the National Agency for Research and Innovation (ANII) and the Uruguay Innovation Hub program, among others.

The meeting included presenting and signing a cooperation agreement between CUTI and its Brazilian counterpart, Assespro. This agreement seeks to foster collaboration between companies from both countries, strengthening ties and opening new business opportunities.

Carlos Acle, the president of CUTI, expressed about this signature, “It intends to invite Brazilian companies to join the chamber’s activities and vice versa.” He added, “The Brazilian market is more unknown to us because of tax issues and its large size, so having a local partner is very positive for companies to have an ally to guide them.”

As a final touch, the Brazilian delegation participated on Tuesday, January 16, in exclusive activities at the Technological Laboratory of Uruguay (LATU) in Montevideo, with presentations by leading organizations such as Ceibal, Newlab, Microsoft’s Artificial Intelligence Laboratory, and Uruguayan Film and Audiovisual Agency (ACAU).

The Brazilian business mission was composed of 26 representatives from Assespro-RS, SEBRAE RS, Tecnopuc PUCRS, South Summit Brazil, Instituto Caldeira, 4all, VENTIUR, Grupo Holly Inversiones, Time Innovation, DB Services, Dambo Damboriarena, Grupo Horizonte and HOC, thus consolidating the ties between both nations and opening new opportunities for collaboration in the technological field.