19 Dec CARTO – JUANMA RODRIGUEZ-JURADO
CARTO is an open, powerful location intelligence that helps companies use location data to drive business decisions. Get to know Juanma Rodriguez-Jurado, an Argentinian based in Madrid, who knows it all regarding what means to be a Eurolatina startup!
Founded in 2012 by a team of experts in geospatial development, big data analytics, and visualization techniques, CARTO is based in New York City and Spain, with additional locations in London, Washington DC, and Estonia. In LATAM, Carto is present in Argentina, Colombia, Peru and Mexico.
1. What makes LATAM/Europe a great opportunity for Startups? Why LATAM/Europe and no other regions?
As a start-up looking to expand to vibrant markets, LATAM seemed to be the right option, easy to replicate at marginal costs and with an important asset….our common language!
2. Why LATAM/Europe and no other regions?
For a number of reasons ranging from cultural similarities and language that extend beyond political boundaries we have common roots and that makes business easier. Although our products are English based, in Latam we have found very good support teams that provide easy and quick delivery for our clients.
3 . What are the main challenges Startups are facing when expanding to LATAM?
There are 3 key issues for us when talking about expanding to LATAM:
1. Finding the right local talent, for example data providers for our maps and products and good software developers that can create new products or services using those data
2. Governance and rule of law, a functioning political and legal order,etc are key for business development
3. Do not make a mistake thinking one size fits all LATAM countries. Although common Spanish language is an asset, each country has its diversity, different laws, entrepreneurial ecosystems etc.
4. Key learnings / recommendations for Startups planning to expand to the LATAM market.
• Look for a local partner to make your life easier and more hands on.
• Former experience in emerging markets is always an asset
• When planning to expand to a new market be aware and get advice regarding its labour laws, taxes etc. so you do not get a surprise when signing a contract or receiving a payment.
• Test the waters before jumping! So to speak, you may find your start up is not on solid ground as you supposed.
• My final and most important recommendation is an easy one to remember: become an entrepreneur!!!