Even though it’s just a single brick building called Campus Tecnologico, developers hoped it would contribute to the creation of an entrepreneurial hub in the district of 4 Grados in Guatemala City. After only a year the neighbourhood has experienced a small revival, as new buildings are selling better than expected and designer boutiques are opening.
Campus Tech holds many Guatemalan companies, in which, work 375 employees. Many of these companies are Guatemalan with foreign experiences that have decided to set up their business there because it’s cheaper, with less competition and more room for creativity. Future plans for Guatemala’s Silicon Valley include adding at least another building.
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New "Silicon Valleys" are popping up all over the world: Kenya; and Argentina, as emerging tech-hubs willing to export technologies and ideas .In Guatemala, there is finally a zone for meritocracy.
In present day terms, opening a business continues to be a risk in a drug fuelled environment in which drug cartels threaten to disturb the peace every now and then; and so Campus Tech still needs to be protected day and night with serious security measures. New enterprises, such as these restaurants and boutiques, are being set up in an era of stability needed in a country for investors to be confident.
http://www.nytimes.com/2011/11/17/world/americas/a-silicon-valley-dream-grows-in-guatemala-city.html
By Damien Cave.
Published: November 16, 2011
Since the rise of the coffee market in 1875, the Guatemalan economy has been defined by ups and downs and it has been suffering a big difference among social classes. However, with the creation of Campus Tec, there is a place for development and improvement. The neighborhood 4 Grados is noticing the resurgence of the economy in the area. It is the best option for investors and entrepreneurs and it creates an opportunity for young innovators. Although there is a risk, Campus Tec really creates the "Guatemalan Silicon Valley dream".
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