Photo: Silicon Valley
Latin American countries are luring Silicon Valley giants in the hope the U.S. companies will establish research centers and share their experience with aspiring local tech entrepreneurs.
One example of the trend is San Francisco-based Media Relevance, whose expansion to Brazil is getting a boost from that nation’s government.
“Brazil represents an enormous opportunity for companies such as Facebook, Twitter, Google, Evernote, etc., being an emerging market with 200 million people,” Jesse Martinez, who co-founded MR with his brother Ed and Steven Clarke-Martin, told Efe.
Media Relevance offers a tool for Web and mobile devices that “uses words spoken in movies and television to generate relevant advertising.”
The company received a $100,000 grant from the Brazilian government’s $250 million TI Maior program to foster development of software and information technology.
The Chilean government is embarked on a similar approach with its StartUpChile initiative, which in three years has enlisted more than 670 start-ups from 64 countries.
“It’s really exciting to see so many cities and groups wanting to emulate the Silicon Valley model, which will help generate greater visibility for Latino entrepreneurs,” Jesse Martinez said.