3 Things About Mexican Startups That May Surprise Investors
By Rebecca Lipon (Application & Judges Coordinator, PITCH Competition 2012) Last week I trekked up to the Microsoft’s San Francisco campus to see Mexican.VC's Demo Day. Mexico is not known for spawning Internet companies, but with our sister site, Ellas 2.0, we wanted to know what is happening in Mexico.
Mexican.VC styles itself as Silicon Valley’s first “discovery fund” for Mexico, providing an initial $20k capital boost to entrepreneurs. Why is this necessary? Early seed capital is often provided by a US entrepreneur’s credit card, but with limited access to personal credit in developing markets, a third party is needed to provide “discovery capital”. That is the role Mexican.VC is assuming
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