FEATURE: EL SALVADOR
WE’ RE NOT HERE TO FOLLOW SILICON VALLEY’ S PLAYBOOK, WE’ RE HERE TO BUILD SOMETHING BIGGER.
“ This is not just a launch, it’ s the start of a movement,” said José Roberto Rodríguez, CEO, CoreNest Accelerator.
“ From El Salvador, CoreNest is shaping the future of Latin America. The world will see this nation as a global hub for innovation, talent and opportunity. El Salvador has already proven it’ s ready to lead and CoreNest is both a result and a driver of that transformation.”
The bigger picture: LATAM’ s untapped potential
Despite being home to over 650 million people and boasting a combined GDP exceeding US $ 5 trillion, Latin America has historically been underfunded when it comes to venture capital. According to LAVCA( Latin American Private Equity & Venture Capital Association), the region received around US $ 15 billion in VC investment in 2021, a fraction compared to North America, Europe or Asia.
Yet the opportunities are massive:
• Financial Inclusion: Over 40 % of Latin Americans remain unbanked, representing fertile ground for fintech
• E-commerce Growth: Online retail penetration is still under 10 % in many countries compared to 20 – 30 % in mature markets
38 INTELLIGENTCIO LATAM www. intelligentcio. com