1871 tech incubator announces partnership with Mexico City
incubator
Merchandise
Mart-based tech hub 1871 announced Thursday a three-year partnership with
Startup Mexico, a Mexico City-based incubator, through which the two would
share resources and benefits.
The partnership goes
into effect Friday, one year after Mayor Rahm Emanuel announced Chicago’s
participation in the Global Cities Initiative, a joint project of the Brookings
Institution and JPMorgan Chase. The program intends to strengthen economic ties
among cities to promote job growth, trade and investment opportunities.
Companies from both
hubs will have access to each others’ people, amenities and some events, free
of charge. Howard Tullman, CEO of 1871, said his incubator likely would host a
demo day for Mexican startups, as it has for other partners. Tullman said the
partnership is reciprocal, with no financial component.
For 1871, the
partnership is an extension of a global strategy that has led to connections
with startups and incubators in London, Tel Aviv and Ankara, Turkey. Tullman
said the Global Cities Initiative pushed him toward a relationship with Mexico
City that he said would have happened regardless. Tullman mentioned Brazil as
another target for 1871 partnerships.
Tullman and 1871 COO
Tom Alexander attended a launch event for Startup Mexico in Mexico City on
Thursday morning. Startup Mexico offers about 35,000 square feet of facilities,
including coworking space, for entrepreneurs, venture capitalists and corporate
partners.
Tullman said major
Mexican cities are ready for U.S.-based startups. He cited the prevalence of
Uber in Mexico City and the popularity of social media there as evidence of a
serious tech environment. Chicago companies could lead the Mexican tech
industry, where technical skills lag the U.S., he said.
He expects particular
interest in Mexican inroads from 1871’s currency and payments-systems-focused
startups.
Proximity to the
U.S. also helps Mexico, Tullman said.
“People talk about
India or China from a volume standpoint,” Tullman said. “But in terms of really
being able to drop your business or solution into major economies, those are a
lot more challenging than countries that are adjacent to the U.S.”
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