Argentine unicorns, the flower that grows in the swamp: what is behind the phenomenon?

In typical enthusiasm of the recitals, last Thursday, a barrage of 4,000 young people jam at the City Convention Center. They went to listen to the creators of unicorns, to interact with each other and share experiences in a cozy climate.

They were called by the Endeavor Foundation, the world’s leading business organization, whose feet are on 40 countries and chose Argentina as his first landing from the hand of Maria Eugenia Estenssoro. hard work it drove the major unicorns, from Mercado Libre, Globant, Satellogic to Despegar. And it’s still behind most impact entrepreneurs.

For Julia Bearzi, CEO of Endeavor in the country, Thursday’s experience with young people seeking their entrepreneurial destiny shows that “The outlet is not Ezeiza and Argentina continues to be a unicorn factory. We had six companies worth $ 1 billion in 2019 and now we have 12. There are effect of multiplication. Every time a Mercado Libre or a Globant is born, an ecosystem is created with its managers helping and investing in new initiatives ”.

The ecosystem

Thus, he emphasizes that entrepreneurship is not a sport for solitary or individualists. “Ecosystem means that if they give you a hand, you give it to the new generation; if you have a mentor, mentor too. If you are fortunate enough to receive capital, you will be an angel investor. It’s about continuing the cycle. “

Bearzi denied the idea of ​​an Argentina being left in this area. “Brazil and Mexico are unicorn powerhouses too. But Argentina leading the cryptocurrency space, along with companies like Lemon or Ripio which is the main purse in the region. And there are edtech such as the Digital House transforming education into a scenario where there is space. Henry, for example, is destroying it all over Latin America. This sector is changing educational measures and forcing us to rethink content ”.

There are other examples such as Agtech changing agricultural production. So are those focused on biotechnology like Stamp which makes small bioreactors for cell synthesis. Or Karvi, the platform that reversed the used car market.

those who left

When Bearzi was asked, how it affects that some of Argentina’s iconic businessmen like Marcos Galperin have left the country, loose: “It doesn’t matter where you sit if you keep thinking about the country and in the case of the Endeavor directors they are still very committed.”

Guibert Englebienne, co-founder of Globant, heads Endeavor in Argentina and the board includes Marcos Galperin (Mercado Libre), Martín Migoya (Globant), Eduardo Elsztain (Irsa), Luciano Nicora, Gustavo Grobocopatel, Carlos Miguens (Miguens -Bemberg), Federico Braun (La Anónima), Alejandro Larossa (Agrofy), Eduardo Batista (Plaza Logística and Mas Colonia) and Vanesa Durán, from the direct sales firm he named.

The main problem, they say, is the lack of talent young people who, because of the exchange rate gap, have left Argentine companies to work abroad with overseas accounts where dollars are deposited.

Linda Rottenberg, an American lawyer, was one of the founders of Endeavor in her 20s. He said of the organization’s last international gala: “Argentine businessmen they are still ahead of almost everything: on listing on the New York Stock Exchange, on returning support received with commitment and financing, and on investing in the start-ups of young people next. “

Rottenberg is already convinced the strength of the Argentines was due to the poverty of the country. Entrepreneurial culture is certainly distinguished by its relation to failure.