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Mexico Accelerates Its Digital Transformation

Peter Howard Wertheim and Dayse Abrantes – International Journalists peter.howard@thebridge.social / dayse.abrantes@thebridge.social

The speed with which innovation in information and communication technologies is generated causes the frontier of knowledge to move constantly to maintain the same level of competitiveness.

There is a need for a continuous effort to innovate, to expand infrastructure and dominate new sectors, and this is Mexico’s current scenario. A country that seeks to be among the great centers of Digital Transformation and innovation in the world.

Mexico City has the potential to become the Technological Hub of Latin America?

With a population of 12 million people – more than 21 million if the entire metropolitan region is included – Mexico City is the country’s capital, the second most populous city in Latin America and the first in North America. 

This highly concentrated market is becoming the home of a new wave of entrepreneurs looking for opportunities outside of the expensive reality in Silicon Valley.

The city has no shortage of challenges: infrastructure difficulties, complicated business practices and a beginning startup ecosystem which demands that entrepreneurs embrace the unexpected.

But these same leaders see great opportunities in this resilient international city where English is common and investments are increasing.

For them, it is a chance to help shape the culture of startups in a city with the potential to become the technology center for Latin America. (Source: Stanford Business)

“As of March 2020, there were about 441 startups in the Fintech sector in Mexico.

This represented a growth of 14% compared to June 2019, the year in which 394 registered Fintech startups.

In this sense, 70% of startups in the sector have their main operations in Mexico City, making the Mexican capital the most dynamic Fintech hub and one of the most relevant in Latin America”, according to Finnovista, an innovation and development company that helps to improve finance and insurance in cooperation with companies, startups and entrepreneurs.

Perspectives of Mexico’s Technological Industry 

Although the Information Technology sector, like many other sectors, did not have its best year in 2020, the growth prospects are much better than in the second quarter of last year, when there was a drop of 8%.

However, according to the consultancy specialized in Information Technology Select, by 2021, technology will grow up to 6.4%, with which the sector will recover what it lost in the previous year and will also grow around 3.4%, largely encouraged by a much higher spending by the government sector. (Source: El Economista, Mexico)

In other words, the growth potential of the Mexican market is very high, leading several companies in the world to invest in this expansion, as is the case of Startup The Bridge with headquarters in Chile and present in Brazil, Portugal, Peru, London and Colombia that started operating in Mexico in late 2020.

Its operation is expanding with a focus on supporting banks, Fintechs, insurance companies, startups and large companies in the digital transformation.

“With offices in Ciudad de México and Jalisco, The Bridge’s focus is to hire squads and individuals who are experts in UX, digital, software development and data analytics to accelerate the digitization of services, channels and solutions for their clients, resolving the explosion in demand for these profiles as a result from the COVID-19 pandemic.”

Bernardo Carvalho Wertheim

The CEO announced: “Our first customer in Mexico: Bancomer / BBVA, the largest bank in the country. The bank operates 1,800 branches, 7,700 ATMs and 125,000 POS terminals.

With around 10,000 employees, it is headquartered in Mexico City. The Bridge’s focus is on recruitment and outsourcing services”

The Bridge CEO Honored as one of the 25 most influential leaders in Latin America

Recently Staffing Industry Analyst (SIA) Global Consultant in Personnel and Workforce Solutions for the Americas chose Bernardo Carvalho Wertheim as one of the 25 most influential leaders in Latin America.

The Bridge was launched in 2016 with an investment from Startup Chile, the biggest accelerator in Latin America. The Bridge now has a team of around 100 people in Brazil and Santiago de Chile, working with clients from six countries, including Mexico, to which it expanded during the pandemic.

With a focus on lean operations, the company is debt-free and had revenues of US$ 2.2 million in 2020. Mr. Wertheim in 2007 launched Bravo Media, a digital media production agency that produced major campaigns for several West End London musicals, like Billy Elliot and Hairspray.

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