GAN, Tec de Monterrey partnership highlights cross-border startup ecosystem building in Latin America amid trade dispute

Despite recent tensions between the United States government and Latin American countries over migration and tariffs, the business ecosystem within the hemisphere remains committed to cross-border investment. 

Ahead of President Donald Trump imposing a 25% tariff on all imports from Mexico in March, Melissa Guevara, a Senior Associate at Costa Rican VC firm Caricaco Ventures told Contxto in December that the venture capital space in Latin America is “by nature … highly adaptable.” 

“Both investors and entrepreneurs are accustomed to navigating economic cycles, regulatory changes, and political shifts,” she said at the time. 

The VC ecosystems in the US and Latin America have grown closer over the years, as the influence of big money venture capital has spread outside of Silicon Valley. 

500 Global, one of the world’s largest early-stage venture funds, launched in Latin America in 2012, and Y Combinator made its first investment in the region in 2015 with Colombia’s Platzi. Both have gone on to make hundreds of investments in the region collectively. 

Nowadays, cross-border and globally minded venture capital firms and accelerator programs are proliferating across the region. 

One such example is the Global Accelerator Network, commonly known as GAN. 

Founded in Denver, Colorado in 2010 in relation to international accelerator Techstars, GAN is now owned by Morrow Global Network and has an estimated startup portfolio value of USD $10.7 billion. GAN curates a global community, actionable insights, and comprehensive tools to scale venture accelerators, studios and hubs alongside the early-stage ventures they build. 

According to Mexican news outlet Milenio, the network recently added a prominent accelerator program from Mexico’s top university to its global network. 

The Technology and Scientific-Based Entrepreneurship Center of Excellence from Tecnológico de Monterrey — one of the region’s leading engineering universities — recently joined the GAN network. 

The program aims to connect students, faculty, founders, inventors and investors who are dedicated to making a lasting, positive impact. It was founded in 2001 and has graduated over 4,500 startups, creating over 34,000 jobs, according to a press release shared with The Sociable. 

Their portfolio includes companies that are innovating in digital products, biotechnology, artificial intelligence (AI), agricultural technology, climate tech and food tech. Current companies within the EBCT network have registered sales in the tens of millions of dollars and raise funding of over $5 million annually, and startups have gone on to prestigious international accelerator programs including Techstars and Y Combinator. 

“We are delighted to invite Tecnológico de Monterrey’s Technology and Scientific-Based Entrepreneurship Center of Excellence into our exclusive GAN community,” said Steve Hayton, Director of Education at GAN. “We’re confident that GAN will provide the resources necessary to help Tecnológico de Monterrey founders grow their businesses and make a lasting, positive impact on the world.” 

Projects like this that aim to connect global startup ecosystems could help Latin America bounce back from the startup funding dearth it has been experiencing since 2022. 

According to The Latin Times, venture capital in LatAm is climbing its way back following the drop-off after the post-pandemic funding boom. Around 400 fund managers invested in Latin American companies in 2024, including Japan’s SoftBanks and New York’s FJ Labs. 

And what’s more, companies are cropping up to help support Latin American startups that want to jump into the US market. 

Impacta VC, a Chilean VC firm, late last year announced its Impacta Miami Softlanding Program, which provides services and support for regional businesses to set up shop in Miami — a city which has quickly grown into a thriving tech hub. 

Even in the face of rising political tensions, the business community, it seems, is committed to cross-border investment between Latin America and the US.

Disclosure: This article mentions a client of an Espacio portfolio company.