Tech Innovation Ecosystem in Latin America
Jul 9, 2026
In this session, Julia Corvalán of Fundación Paraguaya spoke with Vivianne Bernardes-Cibils and Gabi Cibils of Cibersons about the evolution of Latin America’s technology ecosystem, the opportunities available to entrepreneurs and investors, and the impact innovation can generate in a region marked by profound inequalities.
Vivianne contributed her experience as a serial entrepreneur, investor, and technology pioneer, while Gabi shared her perspective from the worlds of venture capital and startups, as well as her work across Paraguay, Latin America, and Silicon Valley.
The conversation portrayed Latin America as an ecosystem that remains uneven and under construction, but is also resilient, dynamic, and capable of developing solutions that respond to its own challenges.
A RESILIENT AND DYNAMIC ECOSYSTEM
At the beginning of the session, Julia asked the guests to describe the Latin American technology ecosystem in one word.
Gabi chose resilient, because entrepreneurs in the region continue moving forward despite difficulties in accessing capital, talent, infrastructure, and markets.
Vivianne described it as thriving, emphasizing the energy, creativity, and determination found across different countries.
Latin America does not have the same conditions as Silicon Valley, nor is there a single level of development throughout the region. Countries such as Brazil, Mexico, Argentina, and Chile have more consolidated ecosystems, while others, such as Paraguay, are still developing capabilities, networks, and investment mechanisms.
However, both agreed that these differences do not prevent innovation. On the contrary, unmet needs create opportunities to develop solutions that can have a concrete impact on people’s lives.
TECHNOLOGY THAT RESPONDS TO REGIONAL PROBLEMS
Vivianne emphasized that one of the most encouraging aspects of Latin American innovation is its ability to benefit populations that have historically had limited access to services, information, and opportunities.
Gabi explained that in more developed ecosystems, some startups focus on highly specific technological problems. In Latin America, by contrast, many innovations generate positive social effects even when the company does not explicitly define its mission as impact-driven.
A startup can improve access to services, create more flexible employment, bring people into the financial system, or develop solutions for sectors that traditional companies have not served.
Each success story can also generate a multiplier effect. Founders and employees of successful companies often go on to become new entrepreneurs, mentors, or investors.
This second and third generation of entrepreneurs represents one of the most important changes observed over the past decade.
WHAT HAS CHANGED OVER THE PAST TEN YEARS
A decade ago, terms such as startup, venture capital, or accelerator were unfamiliar in many Latin American countries.
Today, there is greater understanding of:
• How to develop a technology company.
• The stages a startup goes through.
• How venture capital works.
• The role played by universities and accelerators.
• How to access international networks.
• How to expand into other countries.
There are also more regional examples of companies capable of growing and competing internationally. These cases allow new generations to understand that they can build solutions from their own countries for Latin America or even for the world.
“There are already young people who believe they can create something from their own country for the entire region.”
Mindsets have begun to change. Innovation is no longer perceived as an activity exclusive to the United States, Europe, or a few large markets.
THE INGREDIENTS AN ECOSYSTEM NEEDS TO FLOURISH
Vivianne noted that the most important component is cultural: people must feel that they can create, experiment, and expand beyond their immediate environment.
“We need to broaden our horizons and stop thinking only about the country where we are based.”
A solution may begin in a city or community, but it needs opportunities to grow in order to become sustainable, attract investment, and expand its impact.
She also identified other necessary elements:
• Capital for different stages of entrepreneurship.
• Early-stage investment for ideas that have not yet been validated.
• Participation from universities and research centers.
• Support from the public sector.
• Policies to attract and retain talent.
• Connections between technical knowledge and commercial opportunities.
• Collaborative networks among entrepreneurs and investors.
One of the main gaps exists at the earliest stage. Some companies secure financing after demonstrating that their model works, but struggle to obtain the initial resources needed to experiment and validate the idea.
ENTREPRENEURSHIP WITHOUT WAITING FOR PERFECT CONDITIONS
Gabi warned that an ecosystem will never be fully prepared to provide entrepreneurs with everything they need.
The best entrepreneurs do not wait for perfect infrastructure, for every answer to be available, or for all risks to disappear. They begin, test, and build the path as they move forward.
“Even without all the answers, I take the leap, test, and learn.”
In Latin America, there is still a tendency to wait until an idea is fully developed before presenting it. In other ecosystems, failure and experimentation are treated as a natural part of the process.
Entrepreneurship involves testing, preserving what works, modifying what can be improved, and abandoning what fails to produce results.
This ability to move forward amid uncertainty is more important than having every technical skill from the beginning.
INNOVATION AND SOCIAL IMPACT
Julia asked how innovation could be directed not only toward creating successful companies, but also toward developing solutions for poverty, financial inclusion, education, and climate resilience.
Vivianne noted that several of the Latin American companies that have received the most investment are precisely those addressing major regional challenges.
Trying to replicate a foreign solution may be more difficult than developing responses to local needs that have not yet been addressed. Latin Americans themselves are the people who understand those challenges best.
Gabi added that even companies without an explicit social mission can generate positive effects through job creation, talent development, and the reinvestment of resources in new projects.
She shared the case of Toki, a Paraguayan telecommunications startup developed by a local team and later acquired by a European group. The experience transformed the opportunities available to its founders and employees, who were later able to contribute to other ventures and to the growth of the ecosystem.
ARTIFICIAL INTELLIGENCE: OPPORTUNITY, ADAPTATION, AND RISK
Artificial intelligence occupied an important part of the conversation.
Vivianne acknowledged that it is impossible to fully anticipate its consequences. Some jobs may disappear or be transformed, but humanity has demonstrated an ability to adapt to different technological revolutions.
AI could reduce repetitive tasks and allow people to devote more time to their relationships, interests, and creative activities. However, there are also risks of job displacement that must be addressed.
Gabi highlighted AI’s capacity to democratize tools and knowledge. A person with a computer or phone can access capabilities that previously required large teams or significant investment.
A company that once required fifty employees may be able to complete part of its work with a much smaller team. At the same time, people can use these tools to create new services, small businesses, or independent solutions.
“The greatest risk is failing to begin using artificial intelligence.”
This does not mean adopting it without reflection. It is necessary to understand what it actually does, where its limitations lie, which biases it reproduces, and how it can be used responsibly.
SKILLS FOR NEW GENERATIONS
When asked what young people should learn, the guests avoided recommending a specific degree or academic program. Professions and tools change too quickly to provide a definitive answer.
Vivianne emphasized self-management, understood as the ability to seek solutions, learn independently, and adapt to change.
She also highlighted persistence, because any knowledge or product will need to be continuously updated.
Gabi added the ability to formulate better questions. In a context where information is widely available, the advantage no longer lies only in knowing the answers, but in knowing what to ask.
The core capabilities would be:
• Curiosity.
• Critical thinking.
• Adaptability.
• Self-management.
• Persistence.
• The ability to formulate relevant questions.
• A willingness to experiment.
These capabilities allow people to use technology without becoming completely dependent on it.
ONE ACTION TO STRENGTHEN THE ECOSYSTEM
When asked to identify one concrete action for strengthening regional innovation, both guests agreed on the need to be willing to take the leap.
This means testing an idea without waiting for everything to be resolved, using the tools that are available, and learning throughout the process.
Gabi recalled that companies such as Mercado Libre did not encounter a fully prepared regional infrastructure. To grow, they had to simultaneously develop payment, logistics, and other services.
Entrepreneurs do not merely benefit from an ecosystem. They also build it through what they create.
QUESTIONS AND ANSWERS FROM THE AUDIENCE
• How can the negative impacts of an innovation be identified?
Lourdes Agüero, Poverty Stoplight Program Manager, noted that many ventures focus on the problem they seek to solve but do not sufficiently analyze the unintended harms they might generate.
She shared the example of applications that facilitate access to accounts and credit but may increase the indebtedness of people with limited financial education.
Vivianne acknowledged that the evaluation of negative consequences is not yet a common part of the creation or investment process. She argued that questions about potential harm should be incorporated from the design stage.
Gabi added that when the mission is to expand access, providing a tool is not enough. It is also necessary to offer context, training, and the conditions required to use it appropriately.
• Should organizations also invest in people?
A participant asked whether companies adopting AI are simultaneously strengthening the capabilities of their employees.
Gabi noted that some organizations already provide training because it is not enough to ask staff to use artificial intelligence. People need to learn how to integrate it into their work, evaluate its outputs, and use it to improve their performance.
Technological investment must be accompanied by human and organizational development.
• Which examples of impact innovation stood out?
Gabi mentioned a company in her portfolio that developed a device to help people with multiple sclerosis walk.
She also presented the case of an Argentine wildfire prevention startup created after its founders witnessed relatives and acquaintances lose their homes.
Many impact-driven solutions emerge from personal experiences and problems that entrepreneurs know firsthand.
• Will artificial intelligence be accessible to lower-income populations?
Nancy Ramos, Poverty Stoplight Methodology Manager, noted that access to AI and digital skills carries costs that may become a new barrier for vulnerable families.
Vivianne explained that technologies generally become less expensive as they expand. Free and open-source models developed by large companies are also available.
Gabi noted that although free versions have limitations, they already make it possible to perform many tasks. Competition among providers may continue reducing costs and expanding access.
However, the session left open the question of who will bear future costs and how to prevent AI from deepening the digital divide.
Get Involved
Interested in attending future virtual and in-person events from the Global Stoplight Network? Subscribe to our monthly newsletter here.
You can learn more about the upcoming Cerrito Forum 2026, the annual international global development event that brings together global stakeholders committed to the elimination of poverty from October 12th - 16th by visiting cerrito.com.py.
Back to all webinars