Magazine article SourceMex Economic News & Analysis on Mexico

Mexico Opens Center in California's Silicon Valley to Help Mexican Companies Expand Access to Technology

Magazine article SourceMex Economic News & Analysis on Mexico

Mexico Opens Center in California's Silicon Valley to Help Mexican Companies Expand Access to Technology

Article excerpt

The Mexican government has opened a new center in California's Silicon Valley to promote the growth of Mexican high-tech companies. The Secretaria de Economia (SE) launched the center in Edenvale, California, in late February under the Technology Business Accelerator program (TechBA). The Mexico-Silicon Valley TechBA is the first business-accelerator program opened by the Mexican government on foreign soil.

The SE has allocated US$3.5 million for the center, with private companies donating another US$2.5 million. A principal mission of the center is to support and train Mexican high-tech companies to further develop their products and increase their capability to expand into the US and global markets.

The center, which will be operated by the United States-Mexico Foundation for Science (USMFS), will promote the biotechnology and technology industries of Mexico and also work with Silicon Valley venture capitalists. The Enterprise Network of Silicon Valley, a US business incubator that helps launch companies, will provide support.

"We want to help Mexican companies that have already taken off in the domestic market to market their products and services overseas, find foreign partners, and become more international," said Economy Secretary Fernando Canales Clariond, who helped inaugurate the center.

Canales said job creation is not the primary goal of the program, but rather access to technology for Mexican companies. "[Technological innovation] is no longer a luxury, but a basic need," said Canales. "For Mexico, the time has come to look for new forms of collaboration."

The program is already receiving strong support within Mexico's technology community because it offers services not previously available. …

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