December 1, 2004
Beyond Telenovelas: Mexico's Televisa may be one of the few family-owned companies in tomorrow's Latin America.
Mexican company Neology produces high-tech radio-frequency chips to track people and vehicles. Its chips are buried in Delta Air Lines luggage tags, embedded in Saudi Arabian passports and attached to government cars in Mali. Four years ago, Neology CEO Francisco Martínez launched his company and happily brought in annual revenues of $300,000. This year, the 40-year-old entrepreneur is overseeing a firm with offices in two countries, 180 employees and sales expected to near the $15 million mark.
In the corporate world, Latin America's traditional family-controlled companies may dominate today, but they will be the dinosaurs of tomorrow.