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“One has to be accurate when taking a business shot”

11/25/2015 10:21
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The businessman Fernando Heredia defends replicating foreign practices in the Mexican entrepreneurship ecosystem.

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Fernando Heredia, editor-in-chief of Pymempresario, a publication specializing in small and medium-sized businesses in Mexico, stresses the importance of the "triple helix": government, private initiative and the academic world for driving entrepreneurship. And he emphasizes that the most important factor is the civil society in which entrepreneurs emerge.

"Mutual funds and companies are giving a big boost to entrepreneurs. Although the undersecretaryship for SMEs in Mexico was set up just over 12 years ago, entrepreneurs are gaining new momentum. The academic world is committed to the development of graduates with an entrepreneurship vision for creating new businesses. Jobs are not enough and we need companies that create them", he explains. He also points out that private initiative has funded and generated incubators, accelerators and support networks, along with the chambers of commerce.

Heredia claims that information needs to be cross-referenced to a create a true support network where business initiatives are not like a gunshot, but rather focus on the sectors that need it. “The federal government will invest several millions of pesos on top of what the companies participating in the entrepreneurship week contribute, but this cannot be measured. We need to be assertive, accurate when taking a business shot. Supporting a national initiative to boost the entrepreneurship ecosystem".

The main benefit that Fernando Heredia sees in the Mexican entrepreneurship ecosystem is that, since it is new, it is being developed by taking experiences from other countries, based on more developed schemes, adapted to the Mexican idiosyncrasy, and 'tropicalizing' the subjects, since sometimes what works in other places does not work here.

Money is the problem. All have the same projections for growing the business, but not for setting it up. There is a cultural aspect that should be developed in order to know that a project can be created, and one cannot get up an running immediately. One can get started using our own resources or money from our friends, but it needs to mature”, he says.

According to the editor of Pymempresario, in addition to the developments in technology and fintech, green industries are the sector where money and development tend to go, since parallel industries are emerging in Mexico City, such as residual mining, due to the city's need for new ways of generating energy.

By BBVA Innovation Center.