Uruguay positions itself as an emerging hub in the global startup ecosystem

Uruguay’s position as an attractive destination for entrepreneurship and innovation has gained new momentum with international recognition from key players in the tech ecosystem. In a recent post, Vikram Bharati, founder of Draper Startup House and a global entrepreneurship thought leader, highlighted Uruguay as “one of the most underrated countries in the world”. He described it as a new emerging center within the global startup ecosystem.
Bharati emphasized the country’s institutional strength, digital infrastructure, entrepreneurial talent, and ambition to build global companies from Uruguay. These attributes drive the country’s efforts to consolidate a model that blends innovation, quality of life, and openness to the world.
This recognition adds to other signs confirming the growing dynamism of Uruguay’s startup ecosystem. According to LatamList, Uruguay is currently home to around 500 startups, and its capital, Montevideo, leads in the number of VC-backed startups compared to cities such as Medellín, Monterrey, or Curitiba. Among the most prominent success stories are dLocal, a Nasdaq-listed fintech unicorn; PedidosYa, a pioneer in food delivery in the region; and Scanntech, a leader in retail tech solutions.
The sector’s development is no coincidence. It results from a long-term vision driven by public policy, talent development, tax incentives, and institutional support. Programs led by the National Agency for Research and Innovation (ANII), university-based accelerators, and other platforms have fostered a fertile environment for tech-based startups.

The recent launch of Uruguay Innova, a national policy led by the Office of the President, seeks to strengthen this foundation further. The initiative proposes a strategic alignment between science, innovation, regulation, and internationalization to consolidate a knowledge-based economy. Its approach aims to diversify Uruguay’s productive matrix and generate skilled jobs, bringing together different players from the national ecosystem, including Uruguay XXI, the country’s investment, export, and national branding agency.

The collaboration between public and private actors, the strengthening of human capital, and a robust digital infrastructure allow Uruguay, in a challenging regional context, to position itself as a reliable environment for entrepreneurship, investment, and the scaling of technology-driven solutions with global reach.