A Time for Technology
The US and Asia are surging ahead in technological innovation. Pessimists claim Latin America will never catch up. Are they right?
Latin America has yet to contribute a single major invention or
significant technology to the world. But imagine that 10 years
from now venture capitalists are scouring the region for
innovative companies just as they hunted for the next new thing
in Silicon Valley in the 1990s or in Bangalore in 2004.
|Monterrey will remain in the
Exciting new software developers in Buenos Aires, biotech
firms around Campinas and fuel-cell pioneers in Monterrey have
started to change Latin America's reputation as a land of sun,
sand, samba and drug barons. Top-rated universities in
São Paulo, Santiago and Monterrey are spawning
avant-garde companies financed by nascent VC firms themselves
backed by foreign and local investors.
That is, of course, a wildly optimistic view of Latin
America's future in science and technology. The region has not
evolved into a hotbed of innovation-driven economic growth as
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