[Opinión] – By Matías Puelma, naifman CMO
In the last few weeks, I have had the privilege of having conversations with more than a dozen Latin American B2B technology companies, all of them with a clear objective: to enter the European market. A common denominator has resonated in each of these interactions: “Spain is the gateway to Europe,” they say.
However, behind this hopeful statement -which I certainly agree with- lies a latent fear shared by many of these entrepreneurs: the fear of eventual rejection. There is a legitimate concern about being resisted by the market because they come from a region that is allegedly less technologically developed.
I have to say that this feeling of insecurity acts like a cascade in all markets. There have been many occasions in which I have heard the same speech, over and over again, from Spanish companies trying to penetrate countries such as France, Germany or Switzerland. But believe me, where there is an entry handicap, there is also a purchase motivation; you just have to know how to communicate it.
The question then becomes: is this fear really justified? From my perspective as a Chilean citizen, resident in Spain, and with more than 4 years of experience contributing to the business development of hundreds of technology companies in multiple markets, I dare to say that the answer is a resounding no. The opportunity that the Spanish market offers for Latin American technology companies is vast and promising.
To better understand why Latin American companies should dare to expand their business in Spain, it is crucial to observe the significant boom that the technology startup ecosystem has experienced in the region. From 2020 to 2023, Latin America has witnessed exponential growth in the number of startups backed by venture capital, exceeding 2,500, according to data from Latin Leap. This increase reflects a fundamental change in the region’s economic landscape and is a strong indicator of the region’s latent innovative and entrepreneurial potential. Nothing to envy to many European economies.
But this favorable outlook is not limited to startups. “Traditional” technology companies, dedicated to services such as software development or cybersecurity, also benefit from this dynamic and constantly growing ecosystem. It is clear that the greater the development of the environment in which they operate, the greater the competitiveness and maturity in order not to remain on the sidelines of this movement. It is precisely in this context that the Spanish market emerges as a catalyst for expansion and continued growth.
Therefore, the door to Europe is open to Latin American companies. The challenge now lies in their ability to seize this opportunity and prevent this door from closing. Confidence in the quality and innovation of their products and services, combined with a solid commercial strategy and a proactive approach, will enable them not only to enter the Spanish market, but also to thrive and consolidate in an increasingly globalized business environment.
