Startups in Latin America

Startups in Latin America

Table of Contents Startups in Latin America

TABLE OF CONTENTS Overview 10 Start-ups rate worldwide, by region 2017 11 Latin America: distribution of tech companies 2017, by country 12 New business ownership rate in Latin America & Caribbean in 2017, by country 13 Latin America: share of tech companies in 2017, by city 14 Nascent entrepreneurship rate in Latin America & Caribbean in 2017, by country 15 Latin America: ease of doing business 2010-2017, by topic 16 New entrepreneurial activity share worldwide 2017, by region and industry 17 The Americas & Europe: female engagement in early-stage start-up activities 2017-2018 Key figures

TABLE OF CONTENTS 19 Latin America: funding amount of selected start-ups 2018 20 Latin America: unicorn companies by number of employees 2017 21 Gender distribution of early-stage entrepreneurs in the Americas 2017, by country 22 Necessity driven entrepreneurial activity in Latin America & Caribbean in 2017 23 Latin America & the Caribbean: why entrepreneurship is not that easy 2017 24 Latin America: number of new fintech startups 2017, by country 25 Latin America: distribution of start-ups that failed 2017, by business type 26 Latin America: closing stage of start-ups that failed 2017 27 Latin America: early-stage entrepreneurship rate 2016, by country 28 Latin America & the Caribbean: attitudes towards entrepreneurial activities 2016

TABLE OF CONTENTS 29 Latin America: female entrepreneurship share by industry 2016 Brazil 31 Brazil: amounts invested in start-ups in Brazil in 2017 32 Brazil: geographical distribution of start-ups in 2016, by city 33 Brazil: leading business models of start-ups in 2017 34 Brazil: leading investment attracting business models of start-ups in 2017 35 Brazil: startup ownership distribution 2016, by stage & ethnicity Mexico 37 Mexico: distribution of start-ups 2013-2016, by industry

TABLE OF CONTENTS 38 Mexico: distribution of start-ups in Mexico 2013-2016, by business structure 39 Mexico: geographical distribution of start-ups in 2016, by city 40 Mexico: perspectives of own business as a good career in 2017, by gender 41 Mexico: participation of failed start-up owners in government programs 2017 Colombia 43 Colombia: start-ups leading entrepreneurial activities 2016 44 Colombia: geographical distribution of start-ups in 2016, by city 45 Colombia: start-up owners distribution in 2016, by education and gender 46 Colombia: start-up owners distribution in 2016, by age 47 Colombia: distribution of start-ups that failed by business type 2017

TABLE OF CONTENTS Other countries 49 Chile: survival rate of start-ups 2016 50 Chile: geographical distribution of start-ups in 2016, by city 51 Chile: activity rate of early entrepreneurship 2012-2016 52 Argentina: distribution of start-up activity 2017 53 Argentina: distribution of start-ups that failed by type of business 2017 54 Peru: share of start-ups by business activity 2016-2017 55 Peru: distribution of start-ups by age 2016-2017 56 Panama: distribution of start-ups by region 2017 57 Panama: ownership distribution of start-ups by gender 2017

TABLE OF CONTENTS

Overview Startups in Latin America

Start-up rate (Nascent Entrepreneurship Rate) RATE OF START-UPS WORLDWIDE IN 2017, BY REGION Start-ups rate worldwide, by region 2017 14.0% 12.0% 10.0% 11.7% 10.3% 8.0% 6.0% 7.3% 6.2% 5.1% 4.0% 2.0% 0.0% Latin America & Caribbean North America Africa Asia & Oceania Europe Note: Worldwide; 2017 Further information regarding this statistic can be found on page 59. Source(s): GEM; ID 692473 Overview 10

Share of companies DISTRIBUTION OF TECH COMPANIES IN LATIN AMERICA IN 2017, BY COUNTRY Latin America: distribution of tech companies 2017, by country 60.0% 50.0% 48% 40.0% 30.0% 20.0% 18% 14% 10.0% 8% 7% 5% 0.0% Brazil Argentina Mexico Chile Colombia Other Note: Central and South America; 2017; 123 Respondents; companies that were worth over 25 million U.S. dollars and a collective worth of over 37.7 billion U.S. dollars by the time of the survey Further information regarding this statistic can be found on page 60. Source(s): Surfing Tsunamis; NXTP Labs; IADB; AméricaEconomía; ID 881188 Overview 11

NEW BUSINESS OWNERSHIP RATE IN LATIN AMERICA & CARIBBEAN IN 2017, BY COUNTRY New business ownership rate in Latin America & Caribbean in 2017, by country Brazil Guatemala Chile Ecuador Colombia Latin America & Caribbean (Regional Avg.) Peru Panama Uruguay Mexico Argentina Puerto Rico Note: Central and South America; 2017; 18-64 years; about 2,000 per country Further information regarding this statistic can be found on page 61. Source(s): GEM; ID 315421 New business ownership rate 0.0% 2.0% 4.0% 6.0% 8.0%10.0%12.0%14.0%16.0%18.0% 11.7% 9.7% 9.8% 8.1% 7.3% 6.5% 6.4% 4.3% 3.6% 2.1% 1.4% 16.3% Overview 12

Share of companies LEADING CITIES BASED ON SHARE OF TECH COMPANIES IN LATIN AMERICA IN 2017 Latin America: share of tech companies in 2017, by city 45.0% 40.0% 41% 35.0% 30.0% 32% 25.0% 20.0% 15.0% 10.0% 5.0% 16% 11% 0.0% São Paulo Buenos Aires Mexico City Other Note: Central and South America, Mexico; 2017; 123 Respondents; companies that were worth over 25 million U.S. dollars and a collective worth of over 37.7 billion U.S. dollars by the time of the survey Further information regarding this statistic can be found on page 62. Source(s): Surfing Tsunamis; NXTP Labs; IADB; AméricaEconomía; ID 880971 Overview 13

PERCENTAGE OF POPULATION INVOLVED IN SETTING UP A NEW BUSINESS IN LATIN AMERICA & CARIBBEAN IN 2017, BY COUNTRY Nascent entrepreneurship rate in Latin America & Caribbean in 2017, by country Ecuador Peru Chile Guatemala Latin America & Caribbean (Regional Avg.) Colombia Uruguay Mexico Panama Puerto Rico Brazil Argentina Note: Central and South America; 2017 Further information regarding this statistic can be found on page 63. Source(s): GEM; ID 315375 Percentage of population 0.0% 5.0% 10.0% 15.0% 20.0% 25.0% 4.4% 3.9% 14.7% 13.8% 11.7% 10.8% 10.7% 10.6% 10.1% 9.5% 21.2% 18.7% Overview 14

EASE OF DOING BUSINESS IN LATIN AMERICA BETWEEN 2010 AND 2017, BY TOPIC Latin America: ease of doing business 2010-2017, by topic Starting a business Getting electricity Trading accross borders Dealing with construction permits Average* Paying taxes Enforcing contracts Registering property Getting credit Protecting minority investors Resolving insolvency Score 0 10 20 30 40 50 60 70 80 90 42 66 60.6 59 56 56 52 51 73 71 80 Note: Between 2010 and 2017; On a scale from 1 (easiest) to 190 (most difficult) Further information regarding this statistic can be found on page 64. Source(s): McKinsey (Global Institute); World Bank; ID 802930 Overview 15

SHARE OF NEW ENTREPRENEURIAL ACTIVITY WORLDWIDE IN 2017, BY REGION AND INDUSTRY New entrepreneurial activity share worldwide 2017, by region and industry Latin America & Caribbean North America Europe Asia & Oceania Africa Wholesale/retail 55.7% 21.6% 27% 52.5% 53.5% Health, education, government and social services 12.2% 17.1% 17.6% 13.8% 8.1% Manufacturing 9% 6.2% 8.3% 7.2% 11.8% Agriculture 2.6% 4.2% 7.1% 3.4% 12.6% Mining 3.7% 4.9% 6.6% 4.2% 3.6% Professional services 4.1% 16.1% 11.6% 4.4% 0.7% Administrative services 2.7% 6.4% 6% 4.2% 1.3% Transportation 3.4% 2.2% 2.8% 2.1% 3% Note: Worldwide; 2017 Further information regarding this statistic can be found on page 65. Source(s): GEM; ID 692478 Overview 16

Share of TEA* PERCENTAGE OF WOMEN ENGAGING IN EARLY-STAGE ENTREPRENEURIAL ACTIVITY IN THE AMERICAS AND EUROPE BETWEEN 2017 AND 2018 The Americas & Europe: female engagement in early-stage start-up activities 2017-2018 18 16 14 12 10 8 6 4 2 0 16.7 Latin America & the Caribbean Note: 2017 and 2018 Further information regarding this statistic can be found on page 66. Source(s): GEM; ID 880529 12.8 North America 6.1 Europe Overview 17

Key figures Startups in Latin America

FUNDING AMOUNT OF SELECTED START-UP BUSINESSES IN LATIN AMERICA IN 2018 (IN MILLION U.S. DOLLARS) Latin America: funding amount of selected start-ups 2018 Nubank (Brazil) ifood (Brazil) GetNinjas (Brazil) Mandaê (Brazil) PedidosYa (Uruguay) GAIA Design (Mexico) Eventioz (Argentina) Flowics (Argentina) Total funding in million U.S. dollars 0 100 200 300 400 500 600 42.3 16.8 12.2 11.3 9.7 7.5 5.3 2.85 2.3 1.5 1.3 1 91.9 230.5 527.6 Note: Central and South America; 2018 Further information regarding this statistic can be found on page 67. Source(s): CrunchBase; ID 877921 Key figures 19

NUMBER OF EMPLOYEES AT SELECTED LATIN AMERICAN UNICORN COMPANIES IN 2017 Latin America: unicorn companies by number of employees 2017 Number of employees 0 2000 4000 6000 8000 10000 12000 Softtek (Mexico) Globant (Argentina) Despegar.com (Argentina)* Totvs (Brazil) B2W (Brazil) Mercadolibre (Argentina) Kio Networks (Mexico) OLX (Argentina) Crystal Lagoon (Chile) 250 5,000 5,000 5,000 10,001 10,000 10,000 10,000 10,000 Note: Central and South America, Mexico; as of April 2017 Further information regarding this statistic can be found on page 68. Source(s): CrunchBase; ID 881918 Key figures 20

PERCENTAGE OF POPULATION INVOLVED IN BUSINESS START-UPS IN THE AMERICAS IN 2017, BY COUNTRY AND GENDER Gender distribution of early-stage entrepreneurs in the Americas 2017, by country Ecuador Chile Guatemala Peru Canada Brazil Colombia Uruguay Panama Mexico United States Puerto Rico Argentina 6.5% 13.2% 5.4% 28.7% 28% 27.9% 26.3% 22.6% 19.9% 19.2% 18.4% 18.1% 17.4% 16.7% Male Percentage of population 0.0% 10.0% 20.0% 30.0% 40.0% 50.0% 60.0% 70.0% 11.3% 14.2% 11.2% 10.7% 8.3% Female 15% 20.7% 18.2% Note: North America, Central and South America; 2017; 18-64 years; about 2,000 per country Further information regarding this statistic can be found on page 69. Source(s): GEM; ID 315784 19.6% 21.8% 22.9% 30.6% Key figures 21

NECESSITY DRIVEN ENTREPRENEURIAL ACTIVITY IN LATIN AMERICA & CARIBBEAN IN 2017, BY COUNTRY (AS A PERCENTAGE OF TOTAL ENTREPRENEURIAL ACTIVITY) Necessity driven entrepreneurial activity in Latin America & Caribbean in 2017 Ecuador Brazil Guatemala Puerto Rico Latin America & Caribbean (Regional Avg.) Chile Mexico Uruguay Argentina Colombia Panama Peru Note: Central and South America; 2017; 18-64 years; about 2,000 per country Further information regarding this statistic can be found on page 70. Source(s): GEM; ID 315645 Percentage of total entrepreneurial activity 0.0% 5.0%10.0%15.0%20.0%25.0%30.0%35.0%40.0%45.0% 32.1% 31.7% 27% 25.7% 25.5% 21.5% 21.4% 20.1% 19.8% 16.7% 42.3% 39.9% Key figures 22

Share of reasons for restriction REASONS WHY ENTREPRENEURSHIP POSSIBILITIES IN LATIN AMERICA AND THE CARIBBEAN ARE RESTRICTED IN 2017, BY COUNTRY Latin America & the Caribbean: why entrepreneurship is not that easy 2017 120.0% 100.0% 80.0% 60.0% 40.0% 20.0% 0.0% Barriers to trade and investments Governmental control and restrictions Barriers to entrepreneurship Note: as of August 2017 Further information regarding this statistic can be found on page 71. Source(s): La Prensa; World Bank (Banco Mundial); ID 880635 Key figures 23

Number of fintechs LEADING COUNTRIES IN NUMBER OF NEW FINTECH STARTUPS IN LATIN AMERICA AS OF OCTOBER 2017 Latin America: number of new fintech startups 2017, by country 180 160 158 140 120 130 100 80 77 60 40 20 0 Mexico Brazil Colombia Note: As of October 2017 Further information regarding this statistic can be found on page 72. Source(s): PanamericanWorld; LAVCA; ID 883838 Key figures 24

Share of start-ups DISTRIBUTION OF FAILED START-UPS IN SELECTED LATIN AMERICAN COUNTRIES IN 2017, BY BUSINESS TYPE Latin America: distribution of start-ups that failed 2017, by business type 120.0% Services Goods 100.0% 80.0% 60.0% 40.0% 45.45% 38.89% 25.64% 74.36% 54.44% 61.11% 20.0% 0.0% Mexico Argentina Colombia Note: Argentina, Colombia, Mexico; 2017; 18-64 years; 1,500* Further information regarding this statistic can be found on page 73. Source(s): The Failure Institute; ID 879329 Key figures 25

Share of respondents AT WHAT STAGE DID START-UPS IN SELECTED LATIN AMERICAN COUNTRIES FAIL IN 2017? Latin America: closing stage of start-ups that failed 2017 60.0% 50.0% Establishments Expansion Growth Initial stage Matureness 50% 56.41% 40.0% 30.0% 32.73% 27.15% 27.78% 20.0% 10.0% 18.06% 9.94% 12% 8.33% 5.56% 8.33% 15.38% 10.26% 7.69% 10.26% 0.0% Mexico Argentina Colombia Note: 2017; 18-64 years; 1,500* Further information regarding this statistic can be found on page 74. Source(s): The Failure Institute; ID 879731 Key figures 26

LEADING COUNTRIES BASED ON EARLY-STAGE ENTREPRENEURSHIP RATE IN LATIN AMERICA IN 2016 Latin America: early-stage entrepreneurship rate 2016, by country Entrepreneurship rate 0.0% 5.0% 10.0% 15.0% 20.0% 25.0% 30.0% 35.0% Ecuador 31.8% Colombia 27.3% Peru 25.1% Chile 24.1% Note: Central and South America; 2016 Further information regarding this statistic can be found on page 75. Source(s): GEM; ID 878888 Key figures 27

ATTITUDES TOWARDS ENTREPRENEURIAL ACTIVITIES IN LATIN AMERICA AND THE CARIBBEAN IN 2016 Latin America & the Caribbean: attitudes towards entrepreneurial activities 2016 70.0% 60.0% 50.0% 40.0% 30.0% 20.0% 10.0% 63.7% 63.2% 61% 0.0% Entrepreneurship as a good career choice Media attention for entrepreneurship High status to successful entrepreneurship Note: Central and South America; 2016; 18-64 years; 2,036; at least 2,000 respondents from the Adult Population Survey and 36 experts in the National Experts Survey. Further information regarding this statistic can be found on page 76. Source(s): GEM; ID 878689 Key figures 28

DISTRIBUTION OF FEMALE ENTREPRENEURS IN LATIN AMERICA BETWEEN 2015 AND 2016, BY INDUSTRY Latin America: female entrepreneurship share by industry 2016 Share of female entrepreneurs 0.0% 10.0% 20.0% 30.0% 40.0% 50.0% 60.0% 70.0% Wholesale/retail 63% Gov't/health/edu/soc svc** Manufacturing/transportation Fin/prof/adm/consumer svcs*** 8% 10% 13% Agriculture and mining ICT* 2% 4% Note: 2015 and 2016 Further information regarding this statistic can be found on page 77. Source(s): GEM; ID 879898 Key figures 29

Brazil Startups in Latin America

Share of respondents AMOUNTS INVESTED IN START-UPS IN BRAZIL AS OF DECEMBER 2017 (IN BRAZILIAN REALS) Brazil: amounts invested in start-ups in Brazil in 2017 40.0% 35.0% 30.0% 25.0% 31% 34% 20.0% 15.0% 10.0% 5.0% 13% 14% 0.0% Up to 100,000 100,000 to 500,000 500,000 to 1 million Over 1 milion Note: Brazil; July to December 2017; 2,936; Among start-ups and related businesses Further information regarding this statistic can be found on page 78. Source(s): StartSe; ID 878646 Brazil 31

Share of start-ups GEOGRAPHICAL DISTRIBUTION OF START-UPS IN BRAZIL AS OF OCTOBER 2016, BY CITY Brazil: geographical distribution of start-ups in 2016, by city 70.0% 60.0% 61% 50.0% 40.0% 30.0% 20.0% 10.0% 12% 10% 17% 0.0% São Paulo Rio de Janeiro Belo Horizonte Others Note: Brazil, Central and South America; As of October 2016; Only among cities with at least 200 start-ups Further information regarding this statistic can be found on page 79. Source(s): OECD; AngelList; ID 802685 Brazil 32

Share of respondents LEADING BUSINESS MODELS OF START-UPS IN BRAZIL AS OF DECEMBER 2017 Brazil: leading business models of start-ups in 2017 40.0% 35.0% 34.05% 30.0% 25.0% 20.0% 15.0% 10.0% 5.0% 24.35% 22% 0.0% B2B B2C B2B2C Note: Brazil; July to December 2017; 2,936; among start-ups and related businesses Further information regarding this statistic can be found on page 80. Source(s): StartSe; ID 878588 Brazil 33

Share of respondents LEADING START-UP BUSINESS MODELS ATTRACTING ATTENTION OF INVESTORS IN BRAZIL AS OF DECEMBER 2017 Brazil: leading investment attracting business models of start-ups in 2017 35.0% 32.6% 30.0% 25.0% 20.0% 20.9% 20.7% 15.0% 10.0% 5.0% 0.0% B2B B2C B2B2C Note: Brazil; July to December 2017; 2,936; among start-ups and related businesses Further information regarding this statistic can be found on page 81. Source(s): StartSe; ID 878617 Brazil 34

Share of startups DISTRIBUTION OF STARTUP OWNERSHIP IN BRAZIL IN 2016, BY STAGE AND OWNER ETHNICITY Brazil: startup ownership distribution 2016, by stage & ethnicity 60.0% 50.0% 54.4% Brown* White Black Indigenous & Asian descent 49.8% 40.0% 30.0% 20.0% 10.0% 0.0% 30.5% 14.3% Early-stage startups 36.2% 12.6% 0.8% 1.4% Established startups Note: Brazil; 2016; At least 2,000 respondents** Further information regarding this statistic can be found on page 82. Source(s): GEM; ID 886798 Brazil 35

Mexico Startups in Latin America

Share of start-ups SHARE OF START-UPS IN MEXICO BETWEEN 2013 TO 2016, BY INDUSTRY Mexico: distribution of start-ups 2013-2016, by industry 20.0% 18.0% 16.0% 14.0% 12.0% 10.0% 8.0% 6.0% 4.0% 2.0% 0.0% 18% Financial services 17% 9% 8% 7% 6% Health Agriculture Education Environment ICT Note: Mexico; 2013 to 2016; 318 Respondents Further information regarding this statistic can be found on page 83. Source(s): ANDE (Galidata); The Aspen Institute; ID 877609 Mexico 37

Share of start-ups DISTRIBUTION OF START-UPS IN MEXICO BETWEEN 2013 AND 2016, BY BUSINESS STRUCTURE Mexico: distribution of start-ups in Mexico 2013-2016, by business structure 100.0% 90.0% 80.0% 70.0% 60.0% 50.0% 40.0% 30.0% 20.0% 10.0% 0.0% 87% 7% 3% 2% For-profit Company Nonprofit Other Undecided Note: Mexico; 2013 to 2016; 318 Respondents Further information regarding this statistic can be found on page 84. Source(s): ANDE (Galidata); The Aspen Institute; ID 877545 Mexico 38

Share of start-ups GEOGRAPHICAL DISTRIBUTION OF START-UPS IN MEXICO AS OF OCTOBER 2016, BY CITY Mexico: geographical distribution of start-ups in 2016, by city 60.0% 50.0% 50% 40.0% 30.0% 32% 20.0% 10.0% 10% 8% 0.0% Mexico City Guadalajara Monterrey Others Note: Mexico; As of October 2016; Only among cities with at least 200 start-ups Further information regarding this statistic can be found on page 85. Source(s): OECD; AngelList; ID 804223 Mexico 39

Share of respondents SHARE OF PEOPLE WHO CONSIDER STARTING A BUSINESS AS A GOOD CAREER OPTION IN MEXICO IN 2017, BY GENDER Mexico: perspectives of own business as a good career in 2017, by gender 60.0% 50.0% 47.2% 52.8% 40.0% 30.0% 20.0% 10.0% 0.0% Men Women Note: Mexico; 2017; 18-64 years; 2,000 Further information regarding this statistic can be found on page 86. Source(s): GEM; ITESM; ID 877630 Mexico 40

Share of respondents SHARE OF FAILED START-UP OWNERS WHO PARTICIPATED IN GOVERNMENTAL PROGRAMS IN MEXICO AS OF MAY 2017 Mexico: participation of failed start-up owners in government programs 2017 60.0% 50.0% 52.66% 40.0% 30.0% 20.0% 23.08% 24.26% 10.0% 0.0% Yes No Applied, but was not selected Note: Mexico; May 2017; 15 years and older; 169 Respondents; among start-up owners Further information regarding this statistic can be found on page 87. Source(s): CAF - Banco de Desarollo de América Latina; The Failure Institute; ID 879116 Mexico 41

Colombia Startups in Latin America

LEADING ENTREPRENEURIAL ACTIVITIES OF START- UPS IN COLOMBIA AS OF 2016 Colombia: start-ups leading entrepreneurial activities 2016 Production and commercialization Technological development Consultancies and incubators Communication services Training and education Cultural services Health services Architectural services Repair services Finance Other Share of start-ups 0.0% 5.0% 10.0% 15.0% 20.0% 25.0% 30.0% 35.0% 4% 3% 2% 2% 1% 3% 8% 7% Note: Colombia; 2016; 2,696; start-ups with formal age of less than 5 years and with less than 10 employees Further information regarding this statistic can be found on page 88. Source(s): innpulsa Colombia; ID 880802 21% 18% 32% Colombia 43

Share of start-ups GEOGRAPHICAL DISTRIBUTION OF START-UPS IN COLOMBIA AS OF OCTOBER 2016, BY CITY Colombia: geographical distribution of start-ups in 2016, by city 60.0% 50.0% 48% 40.0% 30.0% 20.0% 23% 29% 10.0% 0.0% Bogotá Medellín Others Note: Colombia, Central and South America; As of October 2016; Only among cities with at least 200 start-ups Further information regarding this statistic can be found on page 89. Source(s): OECD; AngelList; ID 804222 Colombia 44

Share of respondents DISTRIBUTION OF START-UP OWNERS IN COLOMBIA IN 2016, BY EDUCATION AND GENDER Colombia: start-up owners distribution in 2016, by education and gender 35.0% 30.0% 25.0% 20.0% Men Women 32.2% 26.7% 15.0% 10.0% 5.0% 0.0% 2.6% 1% High school 7.9% 4.1% Technical/Vocational training 13.3% 12.2% Undergraduate degree Postgraduate degree Note: Colombia; 2016; 2,696; start-ups with formal age of less than 5 years and with less than 10 employees Further information regarding this statistic can be found on page 90. Source(s): innpulsa Colombia; ID 880279 Colombia 45

Share of respondents SHARE OF START-UP OWNERS IN COLOMBIA IN 2016, BY AGE GROUP Colombia: start-up owners distribution in 2016, by age 60.0% 50.0% 49.37% 40.0% 30.0% 28.79% 20.0% 10.0% 0.0% 25 to 35 years 35 to 45 years Note: Colombia; 2016; 2,696; start-ups with formal age of less than 5 years and with less than 10 employees Further information regarding this statistic can be found on page 91. Source(s): innpulsa Colombia; ID 880389 Colombia 46

Share of start-ups that failed DISTRIBUTION OF FAILED START-UPS IN COLOMBIA IN 2017, BY TYPE OF BUSINESS Colombia: distribution of start-ups that failed by business type 2017 80.0% 70.0% 74.36% 60.0% 50.0% 40.0% 30.0% 25.64% 20.0% 10.0% 0.0% Goods Services Note: Colombia; 2017; 18-64 years; 1,500* Further information regarding this statistic can be found on page 92. Source(s): The Failure Institute; ID 879045 Colombia 47

Other countries Startups in Latin America

Survival rate of start-ups SUCCESS RATE OF START-UPS IN CHILE IN 2016, BY TYPE OF PROGRAM AND ENTRY DATE Chile: survival rate of start-ups 2016 120.0% 100.0% 80.0% 76% 73% 80% 96% 98% 85%96% 60.0% 40.0% 20.0% 27% 21% 27% 24% 29%29% 35% 47% 50% 41% 59% 0.0% Note: Chile; 2016 Further information regarding this statistic can be found on page 93. Source(s): Start-up Chile; ID 877739 Other countries 49

Share of start-ups GEOGRAPHICAL DISTRIBUTION OF START-UPS IN CHILE AS OF OCTOBER 2016, BY CITY Chile: geographical distribution of start-ups in 2016, by city 90.0% 80.0% 80% 70.0% 60.0% 50.0% 40.0% 30.0% 20.0% 20% 10.0% 0.0% Santiago Others Note: Chile, Central and South America; As of October 2016; Only among cities with at least 200 start-ups Further information regarding this statistic can be found on page 94. Source(s): OECD; AngelList; ID 804219 Other countries 50

Early-stage entrepreneurial activity rate EARLY-STAGE ENTREPRENEURIAL ACTIVITY RATE IN CHILE FROM 2012 TO 2016 Chile: activity rate of early entrepreneurship 2012-2016 30.0% 25.0% 23% 24% 27% 26% 24% 20.0% 15.0% 10.0% 5.0% 0.0% 2012 2013 2014 2015 2016 Note: Chile; 2012 to 2016 Further information regarding this statistic can be found on page 95. Source(s): GEM; ID 877722 Other countries 51

Start-up activity share DISTRIBUTION OF START-UP COMPANY ACTIVITY IN ARGENTINA AS OF 2017, BY REGION Argentina: distribution of start-up activity 2017 100.0% 90.0% 80.0% 70.0% 60.0% 50.0% 40.0% 30.0% 20.0% 10.0% 0.0% 10% Other places in Argentina 90% Buenos Aires Note: Argentina; 2017 Further information regarding this statistic can be found on page 96. Source(s): The Next Web; ID 877541 Other countries 52

Share of start-us that failed DISTRIBUTION OF FAILED START-UPS IN ARGENTINA IN 2017, BY TYPE OF BUSINESS Argentina: distribution of start-ups that failed by type of business 2017 70.0% 60.0% 61.11% 50.0% 40.0% 38.89% 30.0% 20.0% 10.0% 0.0% Goods Services Note: Argentina; 2017; 18-64 years; 1,500* Further information regarding this statistic can be found on page 97. Source(s): The Failure Institute; ID 879063 Other countries 53

DISTRIBUTION OF START-UPS IN PERU BETWEEN 2016 AND 2017, BY BUSINESS SECTOR ACTIVITY Peru: share of start-ups by business activity 2016-2017 Established entrepreneurships Early-stage entrepreneurships Retail, hotels and restaurants Wholesale Manufacturing Transport and storage Agriculture, forestry and fishery Government, health, education, social services Mining and construction Consumer services Administrative services Professional services Information and communication Note: Peru; 2016 to 2017 Further information regarding this statistic can be found on page 98. Source(s): GEM (Peru); ID 878053 Share of start-ups 0.0% 10.0% 20.0% 30.0% 40.0% 50.0% 60.0% Other countries 54

Share of entrepreneurs DISTRIBUTION OF EARLY-STAGE ENTREPRENEURS IN PERU BETWEEN 2016 AND 2017, BY AGE AND SECTOR Peru: distribution of start-ups by age 2016-2017 18-24 25-34 35-44 45-54 55-64 40.0% 35.0% 30.0% 25.0% 20.0% 15.0% 10.0% 5.0% 35% 23% 21% 14% 32% 27% 28% 27% 23% 17% 17% 7% 8% 11% 12% 30% 29% 16% 16% 8% 0.0% Resource economy Efficiency economy Innovation economy Total of economies Note: Peru; 2016 to 2017 Further information regarding this statistic can be found on page 99. Source(s): GEM (Peru); ID 878094 Other countries 55

Share of start-ups DISTRIBUTION OF START-UPS IN PANAMA IN 2017, BY REGION Panama: distribution of start-ups by region 2017 60.0% 50.0% 50% 50% 40.0% 30.0% 20.0% 10.0% 0.0% Central Panama Other regions of Panama Note: Panama; 2017; 850 Respondents Further information regarding this statistic can be found on page 100. Source(s): Gobierno de la República de Panamá (AMPYME); ID 880870 Other countries 56

Share of start-ups DISTRIBUTION OF OWNERSHIP OF START-UPS IN PANAMA IN 2017, BY GENDER Panama: ownership distribution of start-ups by gender 2017 60.0% 50.0% 49% 51% 40.0% 30.0% 20.0% 10.0% 0.0% Female Male Note: Panama; 2017; 850 Respondents Further information regarding this statistic can be found on page 101. Source(s): Gobierno de la República de Panamá (AMPYME); ID 880769 Other countries 57

References Startups in Latin America

RATE OF START-UPS WORLDWIDE IN 2017, BY REGION Start-ups rate worldwide, by region 2017 Source and methodology information Source(s) GEM Conducted by GEM Survey period 2017 Notes: The start-up rate is the percentage of 18-64 population who are currently a nascent entrepreneur, i.e., actively involved in setting up a business they will own or co-own; this business has not paid salaries, wages, or any other payments to the owners for more than three months. The start-up rate can also be defined as the Nascent Entrepreneurship Rate. Region(s) Number of respondents Age group Special characteristics Published by Worldwide GEM Publication date January 2018 Original source Global entrepreneurship monitor 2017/2018, pages 106-107 Website URL visit the website Back to statistic References 59

DISTRIBUTION OF TECH COMPANIES IN LATIN AMERICA IN 2017, BY COUNTRY Latin America: distribution of tech companies 2017, by country Source and methodology information Source(s) Conducted by Survey period 2017 Surfing Tsunamis; NXTP Labs; IADB; AméricaEconomía Surfing Tsunamis; NXTP Labs; AméricaEconomía Notes: The source does not provide any information regarding missing percentage points to 100 percent. The source does not specify the exact survey period. The sample was reached through research on specialized publications (such as Ange List and Crunchbase) as well as through expert interviews. Region(s) Central and South America Number of respondents 123 Age group Special characteristics Published by companies that were worth over 25 million U.S. dollars and a collective worth of over 37.7 billion U.S. dollars by the time of the survey IADB Publication date July 2018 Original source Website URL Tecnolatinas: Latin America Riding the Technology Tsunami, page 13 visit the website Back to statistic References 60

NEW BUSINESS OWNERSHIP RATE IN LATIN AMERICA & CARIBBEAN IN 2017, BY COUNTRY New business ownership rate in Latin America & Caribbean in 2017, by country Source and methodology information Notes: Source(s) Conducted by GEM GEM Survey period 2017 Region(s) Number of respondents Age group Special characteristics Published by Central and South America about 2,000 per country 18-64 years GEM Publication date January 2018 Original source Global entrepreneurship monitor 2017/2018, page 106 Website URL visit the website Back to statistic References 61

LEADING CITIES BASED ON SHARE OF TECH COMPANIES IN LATIN AMERICA IN 2017 Latin America: share of tech companies in 2017, by city Source and methodology information Source(s) Conducted by Survey period 2017 Surfing Tsunamis; NXTP Labs; IADB; AméricaEconomía Surfing Tsunamis; NXTP Labs; AméricaEconomía Notes: The source does not provide any information regarding missing percentage points to 100 percent. The source does not specify the exact survey period. The sample was reached through research on specialized publications (such as Angel List and Crunchbase) as well as through expert interviews. Region(s) Central and South America, Mexico Number of respondents 123 Age group Special characteristics Published by companies that were worth over 25 million U.S. dollars and a collective worth of over 37.7 billion U.S. dollars by the time of the survey IADB Publication date July 2018 Original source Website URL Tecnolatinas: Latin America Riding the Technology Tsunami, page 13 visit the website Back to statistic References 62

PERCENTAGE OF POPULATION INVOLVED IN SETTING UP A NEW BUSINESS IN LATIN AMERICA & CARIBBEAN IN 2017, BY COUNTRY Nascent entrepreneurship rate in Latin America & Caribbean in 2017, by country Source and methodology information Notes: Source(s) Conducted by GEM GEM Survey period 2017 Region(s) Number of respondents Age group Special characteristics Published by Central and South America about 2,000 per country 18-64 years GEM Publication date January 2018 Original source Global entrepreneurship monitor 2017/2018, page 106 Website URL visit the website Back to statistic References 63

EASE OF DOING BUSINESS IN LATIN AMERICA BETWEEN 2010 AND 2017, BY TOPIC Latin America: ease of doing business 2010-2017, by topic Source and methodology information Source(s) McKinsey (Global Institute); World Bank Conducted by McKinsey; World Bank Survey period Between 2010 and 2017 Notes: * Data calculated by Statista based on the source's data. The source provides the following additional information: "Ease of doing business ranks economies from 1 to 190, with first place being the best. A high ranking (a low numerical rank) means that the regulatory environment is conducive to business operation". Region(s) Number of respondents Age group Special characteristics Published by Central and South America On a scale from 1 (easiest) to 190 (most difficult) McKinsey (Global Institute) Publication date April 2017 Original source Where will Latin America's growth come from?, page 13 Website URL visit the website Back to statistic References 64

SHARE OF NEW ENTREPRENEURIAL ACTIVITY WORLDWIDE IN 2017, BY REGION AND INDUSTRY New entrepreneurial activity share worldwide 2017, by region and industry Source and methodology information Notes: Source(s) GEM Conducted by GEM Survey period 2017 New entrepreneurial activity share is based on the new entrepreneurial activity rate (Total Early-Stage Entrepreneurial Activity), which is the percentage of the 18-to-64-year-old population who are either in the process of starting a business or have started a business which is less than 42 months old. Region(s) Number of respondents Age group Special characteristics Published by Worldwide GEM Publication date January 2018 Original source Global entrepreneurship monitor 2017/2018, pages 122-125 Website URL visit the website Back to statistic References 65

PERCENTAGE OF WOMEN ENGAGING IN EARLY-STAGE ENTREPRENEURIAL ACTIVITY IN THE AMERICAS AND EUROPE BETWEEN 2017 AND 2018 The Americas & Europe: female engagement in early-stage start-up activities 2017-2018 Source and methodology information Notes: Source(s) Conducted by GEM GEM *TEA (early-stage entrepreneurial activity) = percentage of adults who have started or are running a business up to 3.5 years Survey period 2017 and 2018 Region(s) Number of respondents Age group Special characteristics Published by North America, Europe, Central and South America GEM Publication date April 2018 Original source GEM 2017/2018 Global Report, page 15 Website URL visit the website Back to statistic References 66

FUNDING AMOUNT OF SELECTED START-UP BUSINESSES IN LATIN AMERICA IN 2018 (IN MILLION U.S. DOLLARS) Latin America: funding amount of selected start-ups 2018 Source and methodology information Source(s) CrunchBase Conducted by CrunchBase Survey period 2018 Notes: This statistic was assembled using specific links for each company: Mandaê GAIA Design Nubank Properat i ZIO Studios PedidosYa Linio Mural VU Security Flowics Workana Eventioz Clip GetNinjas ifood Region(s) Number of respondents Age group Special characteristics Published by Central and South America CrunchBase Publication date July 2018 Original source Website URL crunchbase.com visit the website Back to statistic References 67

NUMBER OF EMPLOYEES AT SELECTED LATIN AMERICAN UNICORN COMPANIES IN 2017 Latin America: unicorn companies by number of employees 2017 Source and methodology information Source(s) CrunchBase Conducted by CrunchBase Survey period as of April 2017 Notes: * Including employees in Mexico, Colombia & Venezuela. This statistic was assembled using specific links for each company: Softtek Crystal Lagoons OLX Globant KIO Networks Despegar.com Totvs Mercadolibre B2W Region(s) Number of respondents Age group Special characteristics Published by Central and South America, Mexico CrunchBase Publication date April 2017 Original source Website URL crunchbase.com visit the website Back to statistic References 68

PERCENTAGE OF POPULATION INVOLVED IN BUSINESS START-UPS IN THE AMERICAS IN 2017, BY COUNTRY AND GENDER Gender distribution of early-stage entrepreneurs in the Americas 2017, by country Source and methodology information Notes: Source(s) Conducted by GEM GEM Survey period 2017 Region(s) Number of respondents Age group Special characteristics Published by North America, Central and South America about 2,000 per country 18-64 years GEM Publication date January 2018 Original source Global entrepreneurship monitor 2017/2018, pages 118-119 Website URL visit the website Back to statistic References 69

NECESSITY DRIVEN ENTREPRENEURIAL ACTIVITY IN LATIN AMERICA & CARIBBEAN IN 2017, BY COUNTRY (AS A PERCENTAGE OF TOTAL ENTREPRENEURIAL ACTIVITY) Necessity driven entrepreneurial activity in Latin America & Caribbean in 2017 Source and methodology information Notes: Source(s) Conducted by GEM GEM A necessity-driven entrepreneur is one who started the business because there were no better options for work, rather than because s/he saw the start-ups as an opportunity. Survey period 2017 Region(s) Number of respondents Age group Special characteristics Published by Central and South America about 2,000 per country 18-64 years GEM Publication date January 2018 Original source Global entrepreneurship monitor 2017/2018, page 112 Website URL visit the website Back to statistic References 70

REASONS WHY ENTREPRENEURSHIP POSSIBILITIES IN LATIN AMERICA AND THE CARIBBEAN ARE RESTRICTED IN 2017, BY COUNTRY Latin America & the Caribbean: why entrepreneurship is not that easy 2017 Source and methodology information Notes: Source(s) La Prensa; World Bank (Banco Mundial) Conducted by World Bank (Banco Mundial) Survey period as of August 2017 * OECD is the Organization for Economic Co-operation and Development. Of the selected Latin American and Caribbean countries only Chile is a member country of OECD; the other countries listed are 'non-oecd countries'. Region(s) Number of respondents Age group Special characteristics Published by North America, Central and South America La Prensa Publication date August 2017 Original source Website URL laprensa.com visit the website Back to statistic References 71

LEADING COUNTRIES IN NUMBER OF NEW FINTECH STARTUPS IN LATIN AMERICA AS OF OCTOBER 2017 Latin America: number of new fintech startups 2017, by country Source and methodology information Notes: Source(s) Conducted by PanamericanWorld; LAVCA LAVCA Survey period As of October 2017 Region(s) Number of respondents Age group Special characteristics Published by Brazil, Colombia, Mexico PanamericanWorld Publication date October 2017 Original source Website URL panamericanworld.com visit the website Back to statistic References 72

DISTRIBUTION OF FAILED START-UPS IN SELECTED LATIN AMERICAN COUNTRIES IN 2017, BY BUSINESS TYPE Latin America: distribution of start-ups that failed 2017, by business type Source and methodology information Source(s) The Failure Institute Conducted by The Failure Institute Survey period 2017 Notes: *The Failure Institute reached out to more than 1,500 failed businesses worldwide. The sample number for Argentina was 36 businesses; 39 businesses in Colombia and 825 businesses in Mexico. The source doesn't provide information on the type of survey. The source did not provide the date of publication; the date used was the access date. Region(s) Argentina, Colombia, Mexico Number of respondents 1,500* Age group Special characteristics Published by 18-64 years The Failure Institute Publication date July 2018 Original source Website URL thefailureinstitute.com visit the website Back to statistic References 73

AT WHAT STAGE DID START-UPS IN SELECTED LATIN AMERICAN COUNTRIES FAIL IN 2017? Latin America: closing stage of start-ups that failed 2017 Source and methodology information Source(s) The Failure Institute Conducted by The Failure Institute Survey period 2017 Notes: *The Failure Institute reached out to more than 1,500 failed businesses worldwide. The sample number for Argentina was 36 businesses; 39 businesses in Colombia and 825 businesses in Mexico. The source doesn't provide information on the type of survey. The source did not provide the date of publication; the date used was the access date. Region(s) North America, Central and South America Number of respondents 1,500* Age group Special characteristics Published by 18-64 years The Failure Institute Publication date July 2018 Original source Website URL thefailureinstitute.com visit the website Back to statistic References 74

LEADING COUNTRIES BASED ON EARLY-STAGE ENTREPRENEURSHIP RATE IN LATIN AMERICA IN 2016 Latin America: early-stage entrepreneurship rate 2016, by country Source and methodology information Notes: Source(s) Conducted by GEM GEM Survey period 2016 Region(s) Number of respondents Age group Special characteristics Published by Central and South America GEM Publication date June 2017 Original source Website URL Global Entrepreneurship Monitor Ecuador 2016 Report, page 25 visit the website Back to statistic References 75

ATTITUDES TOWARDS ENTREPRENEURIAL ACTIVITIES IN LATIN AMERICA AND THE CARIBBEAN IN 2016 Latin America & the Caribbean: attitudes towards entrepreneurial activities 2016 Source and methodology information Notes: Source(s) Conducted by GEM GEM Multiple answers were possible. Survey period 2016 Region(s) Central and South America Number of respondents 2,036 Age group Special characteristics Published by 18-64 years at least 2,000 respondents from the Adult Population Survey and 36 experts in the National Experts Survey. GEM Publication date November 2017 Original source Website URL Global Entrepreneurship Monitor Belize 2016 Report, page 9-10 visit the website Back to statistic References 76

DISTRIBUTION OF FEMALE ENTREPRENEURS IN LATIN AMERICA BETWEEN 2015 AND 2016, BY INDUSTRY Latin America: female entrepreneurship share by industry 2016 Source and methodology information Notes: Source(s) Conducted by GEM GEM * Information and Communication Technology ** Government, health, education, social services *** Finance, professor, administration, consumer services Survey period 2015 and 2016 Region(s) Number of respondents Age group Special characteristics Published by North America, Central and South America GEM Publication date September 2017 Original source Website URL GEM Women's Entrepreneurship Report 2016/17, page 41 visit the website Back to statistic References 77

AMOUNTS INVESTED IN START-UPS IN BRAZIL AS OF DECEMBER 2017 (IN BRAZILIAN REALS) Brazil: amounts invested in start-ups in Brazil in 2017 Source and methodology information Notes: Source(s) Conducted by StartSe StartSe The source did not provide information on the survey type. Survey period July to December 2017 Region(s) Brazil Number of respondents 2,936 Age group Special characteristics Published by Among start-ups and related businesses StartSe Publication date June 2018 Original source Website URL Censo StartSe 2017: Brazil Startup Ecosystem Report, page 12 visit the website Back to statistic References 78

GEOGRAPHICAL DISTRIBUTION OF START-UPS IN BRAZIL AS OF OCTOBER 2016, BY CITY Brazil: geographical distribution of start-ups in 2016, by city Source and methodology information Notes: Source(s) Conducted by OECD; AngelList AngelList Survey period As of October 2016 Region(s) Number of respondents Age group Special characteristics Published by Brazil, Central and South America Only among cities with at least 200 start-ups OECD Publication date May 2017 Original source Active with Latin America and the Caribbean, page 36 Website URL visit the website Back to statistic References 79

LEADING BUSINESS MODELS OF START-UPS IN BRAZIL AS OF DECEMBER 2017 Brazil: leading business models of start-ups in 2017 Source and methodology information Notes: Source(s) Conducted by StartSe StartSe The source did not provide information on the survey type. Survey period July to December 2017 Region(s) Brazil Number of respondents 2,936 Age group Special characteristics Published by among start-ups and related businesses StartSe Publication date June 2018 Original source Website URL Censo StartSe 2017: Brazil Startup Ecosystem Report, page 9 visit the website Back to statistic References 80

LEADING START-UP BUSINESS MODELS ATTRACTING ATTENTION OF INVESTORS IN BRAZIL AS OF DECEMBER 2017 Brazil: leading investment attracting business models of start-ups in 2017 Source and methodology information Notes: Source(s) Conducted by StartSe StartSe The source did not provide information on the survey type. Survey period July to December 2017 Region(s) Brazil Number of respondents 2,936 Age group Special characteristics Published by among start-ups and related businesses StartSe Publication date June 2018 Original source Website URL Censo StartSe 2017: Brazil Startup Ecosystem Report, page 12 visit the website Back to statistic References 81

DISTRIBUTION OF STARTUP OWNERSHIP IN BRAZIL IN 2016, BY STAGE AND OWNER ETHNICITY Brazil: startup ownership distribution 2016, by stage & ethnicity Source and methodology information Source(s) GEM Conducted by GEM Survey period 2016 Notes: * This category includes people with various shades of brown skin. According to the Brazilian Institute of Geography and Statistics (IBGE), brown-skinned people ("pardos") are Brazilians with mixed ethnic ancestry. The most common mixture is of white Brazilian, Afro-Brazilian and Native Brazilian. ** GEM regulation for surveys. Region(s) Number of respondents Age group Special characteristics Published by Brazil At least 2,000 respondents** GEM Publication date October 2017 Original source GEM Brazil 2016 Report, page 50 Website URL visit the website Back to statistic References 82

SHARE OF START-UPS IN MEXICO BETWEEN 2013 TO 2016, BY INDUSTRY Mexico: distribution of start-ups 2013-2016, by industry Source and methodology information Notes: Source(s) Conducted by ANDE (Galidata); The Aspen Institute ANDE (Galidata); The Aspen Institute Survey period 2013 to 2016 Region(s) Mexico Number of respondents 318 Age group Special characteristics Published by ANDE (Galidata); The Aspen Institute Publication date May 2018 Original source Website URL Aceleración en México: Impactos Iniciales en Empresas Mexicanas, page 6 visit the website Back to statistic References 83

DISTRIBUTION OF START-UPS IN MEXICO BETWEEN 2013 AND 2016, BY BUSINESS STRUCTURE Mexico: distribution of start-ups in Mexico 2013-2016, by business structure Source and methodology information Notes: Source(s) Conducted by ANDE (Galidata); The Aspen Institute ANDE (Galidata); The Aspen Institute The source does not provide any information regarding missing percentage points to 100 percent. Survey period 2013 to 2016 Region(s) Mexico Number of respondents 318 Age group Special characteristics Published by ANDE (Galidata); The Aspen Institute Publication date May 2018 Original source Website URL Aceleración en México: Impactos Iniciales en Empresas Mexicanas, page 6 visit the website Back to statistic References 84

GEOGRAPHICAL DISTRIBUTION OF START-UPS IN MEXICO AS OF OCTOBER 2016, BY CITY Mexico: geographical distribution of start-ups in 2016, by city Source and methodology information Notes: Source(s) Conducted by OECD; AngelList AngelList Survey period As of October 2016 Region(s) Number of respondents Age group Special characteristics Published by Mexico Only among cities with at least 200 start-ups OECD Publication date May 2017 Original source Active with Latin America and the Caribbean, page 36 Website URL visit the website Back to statistic References 85

SHARE OF PEOPLE WHO CONSIDER STARTING A BUSINESS AS A GOOD CAREER OPTION IN MEXICO IN 2017, BY GENDER Mexico: perspectives of own business as a good career in 2017, by gender Source and methodology information Notes: Source(s) Conducted by GEM; ITESM GEM; ITESM Source did not provide the exact date of survey neither the survey type. Survey period 2017 Region(s) Mexico Number of respondents 2,000 Age group Special characteristics Published by 18-64 years GEM Publication date May 2018 Original source Website URL El Emprendimiento en el Estado de Querétaro - Análisis de los datos del Global Entrepreneurship Monitor 2017/2018, page 23 visit the website Back to statistic References 86

SHARE OF FAILED START-UP OWNERS WHO PARTICIPATED IN GOVERNMENTAL PROGRAMS IN MEXICO AS OF MAY 2017 Mexico: participation of failed start-up owners in government programs 2017 Source and methodology information Notes: Source(s) Conducted by CAF - Banco de Desarollo de América Latina; The Failure Institute CAF - Banco de Desarollo de América Latina; The Failure Institute Values were calculated by Statista based on the source's data. Percentage points exceeding or not adding up to 100 are due to rounding. Survey period May 2017 Region(s) Mexico Number of respondents 169 Age group Special characteristics Published by 15 years and older among start-up owners The Failure Institute Publication date June 2017 Original source Website URL Recomendaciones de Política Pública a la Luz del Fracaso Emprendedor, page 44 visit the website Back to statistic References 87

LEADING ENTREPRENEURIAL ACTIVITIES OF START- UPS IN COLOMBIA AS OF 2016 Colombia: start-ups leading entrepreneurial activities 2016 Source and methodology information Notes: Source(s) Conducted by innpulsa Colombia innpulsa Colombia The source does not provide any information regarding percentage points exceeding 100 percent. Survey period 2016 Region(s) Colombia Number of respondents 2,696 Age group Special characteristics Published by start-ups with formal age of less than 5 years and with less than 10 employees innpulsa Colombia Publication date April 2017 Original source Website URL Mapeo y Caracterización del Ecosistema de Emprendimiento en Colombia, con Énfasis en la Localización de las Startups, page 238 visit the website Back to statistic References 88

GEOGRAPHICAL DISTRIBUTION OF START-UPS IN COLOMBIA AS OF OCTOBER 2016, BY CITY Colombia: geographical distribution of start-ups in 2016, by city Source and methodology information Notes: Source(s) Conducted by OECD; AngelList AngelList Survey period As of October 2016 Region(s) Number of respondents Age group Special characteristics Published by Colombia, Central and South America Only among cities with at least 200 start-ups OECD Publication date May 2017 Original source Active with Latin America and the Caribbean, page 36 Website URL visit the website Back to statistic References 89

DISTRIBUTION OF START-UP OWNERS IN COLOMBIA IN 2016, BY EDUCATION AND GENDER Colombia: start-up owners distribution in 2016, by education and gender Source and methodology information Notes: Source(s) Conducted by innpulsa Colombia innpulsa Colombia Survey period 2016 Region(s) Colombia Number of respondents 2,696 Age group Special characteristics Published by start-ups with formal age of less than 5 years and with less than 10 employees innpulsa Colombia Publication date April 2017 Original source Website URL Mapeo y Caracterización del Ecosistema de Emprendimiento en Colombia, con Énfasis en la Localización de las Startups, page 43 visit the website Back to statistic References 90

SHARE OF START-UP OWNERS IN COLOMBIA IN 2016, BY AGE GROUP Colombia: start-up owners distribution in 2016, by age Source and methodology information Notes: Source(s) Conducted by innpulsa Colombia innpulsa Colombia Missing percentage points to 100 percent are probably due to missing information about the distribution of other age groups. Survey period 2016 Region(s) Colombia Number of respondents 2,696 Age group Special characteristics Published by start-ups with formal age of less than 5 years and with less than 10 employees innpulsa Colombia Publication date April 2017 Original source Website URL Mapeo y Caracterización del Ecosistema de Emprendimiento en Colombia, con Énfasis en la Localización de las Startups, page 40 visit the website Back to statistic References 91

DISTRIBUTION OF FAILED START-UPS IN COLOMBIA IN 2017, BY TYPE OF BUSINESS Colombia: distribution of start-ups that failed by business type 2017 Source and methodology information Source(s) The Failure Institute Conducted by The Failure Institute Survey period 2017 Notes: *The Failure Institute reached out to more than 1,500 failed businesses worldwide. The sample number for Colombia was 39 businesses The source doesn't provide information on the type of survey. The source did not provide the date of publication; the date used was the access date. Region(s) Colombia Number of respondents 1,500* Age group Special characteristics Published by 18-64 years The Failure Institute Publication date July 2018 Original source Website URL thefailureinstitute.com visit the website Back to statistic References 92