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According to Mario Alberto García, head of the business incubator at La Salle University, there has been a shift in the entrepreneurial ecosystem in Mexico from supporting basic projects towards supporting higher innovation projects, based on the value proposition concept. For a project to be interesting, it must have something extra: “The Ministry of Finance is looking for a high impact, i.e. proposals with replicable and scalable value with use of technologies. The objective is also greater specialization and understanding with customers. It is here that we may observe how support is shifting from basic projects towards innovation projects. This is not exactly a technological innovation, rather one in business models - instead of innovation in physical products, focused on service projects and Internet”.
According to García, there are two types of entrepreneurs. There are those from the previous generation who expect to receive government resources to survive; these entrepreneurs need to change their mindset and realize that a change in the market could put them out of business. They need to develop a more open mindset toward the new market and business conditions to be able to meet customers' needs.
The second type of entrepreneur is the new generation entrepreneur, who needs to know what the business model is, who needs to see a value proposition with a high degree of innovation. These entrepreneurs see there is initiative for products and services but sometimes they overlook the emotional dimension of their value proposition. They believe that customers have to buy their products because it is a good product but they may forget about the personal relationship with customers, which is actually a very important part of their business.
When asked about Mexico's advantages in terms of entrepreneurship, the head of the business incubator at La Salle University explains that judging by his experience of incubators in the United States, Peru and Mexico, Mexico is an emerging market for entrepreneurship. “United States is the cathedral of entrepreneurship, a country where everything is done quickly. In Peru, it is the other way around. First you have to explain why you want to be an entrepreneur, provide justifications to see if it is worthwhile and when it is viable, regardless of whether or not you are going to take risks”.
García says in Mexico, unlike in Peru, “There is the right mindset for doing business quickly and also government support. In fact, there are lots of opportunities in Mexico from government and private initiatives. There are closer and closer ties between the public and private sectors, while universities and research centers are also coming into the entrepreneurship mix. These institutions are focused on developing graduates and finding them a place on the job market. Graduates must also be prepared to look for jobs themselves and act as entrepreneurs. We are at an incipient stage in creating real entrepreneurship”, he concludes.
By BBVA Innovation Center