<img height="1" width="1" src="https://www.facebook.com/tr?id=122870811637131&amp;ev=PageView &amp;noscript=1">
Investment Properties Mexico
Toll Free USA/Canada (866) 751-7955

Read. Learn. Invest. Grow

Forbes Explores Mexico’s Future As Global Software Hub and IT Powerhouse

07 October, 2014

Over the last few years,the city of Monterrey in Mexico’s northeastern state of Nuevo León has begun to define itself as more than just a major international industrial center,as entrepreneurs work to establish it as a worldwide hub for software,information technology (IT) and business process outsourcing (BPO).

“Monterrey is home to an elite university,a diverse array of well-established multinational companies and a new crop of globally competitive start-ups,” writes Forbes. “Nuevo León is home to nearly one hundred industrial parks.”

According to the report,the state continues to outpace Mexico’s national economy,and the Mexican Competitiveness Institute think tank ranked Nuevo León as the nation’s second most competitive state,just behind Mexico City. In addition,despite the fact that the region accounts for less than four percent of Mexico’s total population,it consistently generates at least eight percent of the nation’s gross domestic product (GDP) and for the last several years Monterrey has been attracting new interest from international software sector developers and entrepreneurs.

“In 2007 Indian outsourcing giant Wipro picked Monterrey as the site for a new software development facility,” writes Forbes. “In 2012 Monterrey-based cement giant Cemex signed a $1 billion dollar deal with IBM to outsource IT functions.”

Other established entrepreneurs from the sector include the longtime Monterrey businessman Enrique Lima’s company Publish 88,which designs software that enables magazine and media clients to create digital content for mobile devices,as well as Softec and Nortis – two global corporations that handle outsourcing for a variety of U.S. companies. According to Forbes,Lima is “confident” about Monterrey’s future and believes there is ample space for additional startups to begin operations in the area.

In 2013,Monterrey-based beverage giant Coca-Cola partnered with FEMSA,the largest beverage company in Mexico,as well as Crowdfunder Mexico and Monterrey’s own Eugenio Garza Laguera Entrepreneurship Institute to develop a competition that will connect start-ups with advisors and potential investors. Also of note,the Monterrey Institute of Technology and Higher Education (ITESM) is located here. Established in 1943,the campus is one of the largest private,nonsectarian co-educational universities in Latin America,with more than 30 campuses in 25 cities nationwide.

“Monterrey produces the country’s best software engineers,” stated Carlos Ross,director for the city’s Center for Global Innovation and Entrepreneurship in an interview with Nearshore Americas. “In the last ten years,many of the top software engineers have been hired to work in the U.S.”

Economic activity is also emerging in other new ways throughout the Monterrey metro area,as evidenced by the rise of hip neighborhoods such as San Pedro. Here,residents enjoy walking among beautiful gardens on the three-lane boulevards,which provide easy access to a variety of attractions,including some of the region’s best shopping and dining,the interactive Planetario Alfa Museum of Science and Technology and the Chipinque Ecological Park.

Like this story? Like Investment Properties Mexico on Facebook.