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Silicon Vineyard: Mendoza Investing in Tech District

On October 12, 2010, In creative class, foreign investment, technology, by InvestBA
Parque Informatico La Punta

The new Mendoza Tech District will be three times larger than the PILP in San Luis.

While Mendoza will always be synonymous with the wine industry, government officials are working to diversify their local economy with a significant IT investment. Raul Mercau, Mendoza’s Minister of Production, Technology and Innovation (PT&I), says Mendoza’s first Technology Park will open next April and hopefully attract 50 software, communication and IT companies at the outset.

Initially the Province plans to invest approximately US$3 million on an 8 acre property which would make the Mendoza Tech District (MTD) the most important in Cuyo, as it would be three times the size of the existing PILP (Parque Informatico La Punta) which hosts a dozen tech companies like MercadoLibre and Indra in San Luis.

Mercau tells Cronista the MTD will attempt to lure companies with a generous combination of tax incentives (10-year exemption on all provincial taxes) and low-interest lines of credit (up to US$125,000 with rates subsidized by the government).

The Ministry of PT&I says Mendoza, which has around 375 small and middle-size tech companies with over 4,000 employees and annual billings of US$325 million, hopes the Park will improve connectivity, boost the profile of local tech companies, attract university students and increase competitiveness in the sector. (Full story in Spanish)

For more information about investment opportunities in Mendoza, download the October issue of InvestBA Privada.

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Modelo Indio: Buenos Aires Becoming A Service Export Hub

On October 5, 2010, In arts & entertainment, ba government, competitiveness, creative class, foreign investment, technology, us companies, by InvestBA
Americine Argentina

BA-based Americine, a distributor of Latin American films, was recently acquired by a U.S. company.

A tale of two economies on the front pages of fishwraps today in Argentina. More than 4 million Spaniards are unemployed, the country has the highest unemployment rate in the EU and service jobs are being eliminated at a rate 8x faster than any other sector of the Spanish economy.

Conversely, Argentina stands as the polo opuesto to Spain, as service jobs are growing rapidly, and the country is emerging as a powerful global exporter of professional services. While the trend is not limited to Buenos Aires, Jose Crettaz of La Nacion focuses specifically on the mercado porteno and recent growth in five key sectors: IT, audiovisual, cultural/education, design and professional services.

62% of BA companies in those sectors, which InvestBA covers collectively as The Creative Class, generated a significant percentage of their revenues from sales to clients abroad. Those sectors accounted for US$2.48 billion in sales in 2008 and roughly 10% of employment in Buenos Aires. Factoring in the 11% historic growth rate, 2010 figures could be closer to US$3.05 billion and 12% of employment.

The BA Ministry of Economic Development and CIPPEC found that design firms are the most “internacionalizado” with 100% of them recording foreign sales, while 80% of BA IT & communications firms are selling abroad. And while buyers of BA services are spread throughout the Americas and Europe, the United States is the #1 destination and purchases 28% of all BA service exports.

With BA creative industries accounting for US$17.5 billion of economic activity in 2009, the City of Buenos Aires government is understandably optimistic about the sector’s prospects for growth.

For more information about BA’s Creative Class, search our archives and download the new issue of InvestBA Privada.

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Is 40 the new 60? Buenos Aires Job Seekers Fight Back

On June 15, 2010, In competitiveness, culture, by InvestBA
When 40 is the new 60

Age discrimination in the workplace is a cause for concern among Argentina's unemployed.

For most, turning 40 is a great milestone in one’s career. You’ve got at least fifteen years of solid work experience with multiple employers, you’ve developed a rich network of contacts in your industry, and you’re well positioned to achieve even greater success over the next twenty years.

With such a wealth of real world experience and industry savvy, any employer would be lucky to have you. Unfortunately for many workers in Argentina, turning 40 isn’t a jovial rite of passage. In fact, in a society that covets the beauty and virility of youth, it’s something akin to a death sentence for those seeking employment.

When he recently started looking for a new job, Buenos Aires computer programmer Roberto Matera met a wall of age discrimination. He was rejected repeatedly for being over 40 by several companies who aren’t shy about their totally archaic “No Hires Over 40″ policy.

Undeterred, Matera launched E+40, an employment website for Argentine workers over 40. It turns out Roberto wasn’t alone. In less than a year almost 6,000 job seekers have joined E+40, and more than 70 employers post openings in industries ranging from IT to Finance to Design. What began as a personal protest against corporate ageism has blossomed into a thriving website and social network movement. To date, over 43,000 Argentines have joined the facebook group opposing age discrimination in the workplace. (Full Story)

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Growth & HR Challenges for BA Tech Sector

On March 30, 2010, In competitiveness, foreign investment, technology, by InvestBA
Recruitment flyer for IBM Argentina; IT demand outweighs the supply of candidates in Buenos Aires.

Recruitment flyer for IBM Argentina; IT demand outweighs the supply of candidates in Buenos Aires.

Representatives of two of the biggest players in the Buenos Aires IT space made back-to-back appearances on the BA business radio program Efecto Mariposa (Butterfly Effect) today and shared valuable insight on the advantages and challenges to sustained sector growth in Argentina.

IBM Argentina‘s Director of Marketing, Communications & Community Relations, Ignacio Vaca de Osma, said the English accent spoken here and the time zone overlap with the U.S. were two local advantages of doing business in BA.

In terms of challenges, he emphasized the need to re-evaluate and accelerate the traditional Argentine six-year university programs. BA students would be much more inclined to choose an IT career if they could finish in three years and start working for a first-class company like IBM immediately upon graduation.

Carlos Stella, Human Resources Director for Tata Consultancy Services in Latin America, agreed with the need for curriculum tweaking, emphasizing the need for intensive English language and cultural integration training, considering many local IT employees have supervisors in foreign countries. Tata currently has 240 employees working in the new Parque Patricios Tech District and plans to have 1,400 by year-end.

Argentines make up roughly 90% of Tata’s current workforce with employees from India filling out the ranks. Both representatives felt greater emphasis needs to be placed on promoting IT careers if the country is going to keep pace with the global demand. As Vaca de Osma summed it up, “this is an historic opportunity to generate value-added services for the world.”

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City of Buenos Aires Technology District Ready for Liftoff in 2010

On December 22, 2009, In a-bric, ba government, creative class, entrepreneurs, foreign investment, technology, us companies, by InvestBA
Distrito Tecnologico Ciudad Buenos Aires

The Buenos Aires Technology District is featured in the new issue of InvestBA Privada

WiFi connectivity, generous tax breaks, grants to cover the cost of quality certification, preferred lines of credit at local banks, and a government-sponsored training program to groom future talent.

It may sound like a Christmas wish list, but it’s an emerging high tech reality in the Parque Patricios neighborhood thanks to the City of Buenos Aires. And according to Cronista, the list of goodies is attracting large multinationals and small start-ups alike.

Iron Mountain and Clari­n Global have both reserved office space, while India’s Tata Consultancy Services announced a new Global Delivery Center back in September. Cronista says small and medium-sized businesses (in Argentina, PYMEs) make up the majority of Argentina’s 1,600 tech companies, and 70% of those companies are located in Buenos Aires.

Carlos Pirovano, Subsecretary of Investment for the City, says the number of companies working in the Distrito Tecnologico will more than double in 2010 to 50 with over 10,000 employees, so the City is investing in everything from a new fiber optic network to new subway stations to accommodate the growing talent pool. Another important development will be the launch of the Metropolitan Tech Center, an initiative to connect with secondary school students and groom the next generation of IT talent here in BA. (Full Story in Spanish).

For more information about IT outsourcing to Buenos Aires, download the new issue of InvestBA Privada.

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