GALI, ANDE's Central America & Mexico chapter, and Citibanamex have partnered to do a deep dive on entrepreneurship and acceleration in Mexico.

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Through this partnership, GALI has collected data from more than 800 early-stage Mexican ventures and partnered with over a dozen accelerator programs in Mexico.

Download the publications below to learn about the ventures applying to acceleration programs and how they grow based on accelerator participation. You can also explore our accelerator directory to see a list of accelerators headquartered in Mexico, as well as those operating in Latin America & the Caribbean.

Initial insights about early-stage ventures in Mexico:

  • Mexican ventures that applied to accelerator programs were primarily early stage, for-profit ventures. Most had not earned revenue in the previous year, and had not raised investment capital.
  • Mexican ventures most often ranked the development of their network and access to mentors as the most important benefit accelerators provide.
  • Ventures led by women were four times less likely to have raised equity, prior to applying to an accelerator program, than ventures with all-male teams.

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Initial insights about the impact of acceleration in Mexico:

  • Ventures that participated in accelerator programs experienced greater growth in revenues, full-time employees, equity, and debt on average compared to rejected ventures.
  • The majority of ventures reported no equity or debt growth at all, suggesting that a small number of strong performers are drawing up the average changes in investment.
  • First-time accelerated ventures reported higher average revenue growth, while ventures that had been previously accelerated reported greater equity growth.

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Examining why entrepreneurs attend multiple accelerators and what this means for the ecosystem in Mexico:

  • On average, entrepreneurs participating in multiple accelerator programs benefit from both their first and subsequent acceleration experience. 
  • First-time accelerated ventures tend to have less targeted needs than ventures with prior acceleration experience. 
  • In some cases, participation in multiple accelerators reflects a large and diverse marketplace of support offerings; but in others it may represent poor matching between entrepreneurs and accelerators. 

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Related Publications

  • Acceleration in Mexico

    Examining Why Entrepreneurs Attend Multiple Programs

    Sep 2019

    In the GALI dataset, approximately one-third of ventures based in Mexico that applied to accelerators had already participated in a similar program. GALI produced this knowledge brief, with the support of Citibanamex, to better understand the incremental benefits that entrepreneurs receive by attending multiple programs as well as how entrepreneurs and accelerators view this phenomenon.

  • Acceleration in Mexico

    Early Impacts on Mexican Ventures

    May 2018

    With the support of Citibanamex Compromiso Social, GALI is working to increase understanding of acceleration and early-stage ventures in Mexico. This report includes application and follow-up information from 318 ventures operating in Mexico, contributed by 15 accelerator programs.

  • Acceleration in Mexico

    Initial Data from Mexican Startups

    May 2017

    With the support of Citibanamex, through Fomento Social Banamex, GALI is working to increase understanding of acceleration and early stage ventures in Mexico. This data summary includes information from 461 ventures operating in Mexico, contributed by 21 accelerator programs.