About TechBA -- Technology Business Accelerators
TechBA is an international Business Accelerator Program, run by the Ministry of Economy in alliance with FUMEC and ACELTEC, which represents a key component for the strengthening of gazelle companies in international markets.
Mexico in the World
With a population of more than 103 million people, Mexico has become the 14th economy1 in the world and the top exporter of Latin America.
Thanks to free trade agreements, Mexico has developed a dynamic economy, resulting in an important growth of economic trade: in North America, Mexico is the 3rd partner of the United States while Canada represents Mexico’s second export market which reached 13 billion dollars of surplus for Mexico in 2007. Europe is also an important economic partner representing 6.1% of Mexican exports, concentrated mainly in Germany, Spain, United Kingdom and Holland.
As a result of a more dynamic economy, Mexico is also becoming a key player in the knowledge economy. There are more than 125 research and development centers, and 1,200 universities with a 100% student growth in the past ten years.
A wide base of qualified professionals with world class technological and enterprise abilities are the result of this effort. Currently, there are more than 450,000 students enrolled in full-time engineering undergraduate programs, vs. just over 370,000 in the U.S.
This talent has become a resource for a growing number of companies that create high value added products and services. Not only do they grow at rapid rates (becoming gazelle companies) but they also deliver technologies that transform the productivity and competitiveness of whole industries.
In order to facilitate their development as world class players, the Ministry of Economy in alliance with FUMEC (US-Mexico Foundation for Science) created TechBA, Mexico’s International Technology Business Acceleration Program.
1 The Europe Union countries are considered as a single economy
TechBA: International Acceleration of Technology Based Businesses
The TechBA Program (Technology Business Accelerators) was created in 2004, to support top tier innovative companies in bringing their innovative technologies, products and services to global markets.
The acceleration mechanism facilitates access to market, financial, managerial skills and technological resources of highly entrepreneurial ecosystems. As a result of this process, companies rapidly increase their value and become active players in the international technology business markets.
A key element to the success of TechBA has been the selection of ecosystems with high innovation drive, such as Silicon Valley in California, Austin in Texas, Phoenix-Scottsdale in Arizona, the Detroit region in Michigan, Montreal in Canada and Madrid in Spain.
In each region, TechBA partners with renowned organizations that have a proven record of successful results in accelerating innovative companies, such as IC2 from the University of Texas at Austin, Inno-centre in Montreal, Parque Cientifico de Madrid in Spain, TechTown in Michigan and SkySong in Arizona. In Silicon Valley, TechBA has developed strategic alliances with Silicom Ventures, Software Development Forum, US Market Access Center, Stanford University, and the Universities of San Francisco and San Jose.
To coordinate this effort, the Ministry of Economy chose FUMEC as a strategic partner that brings into the program strong technology and business networks.
A key element to FUMEC’s operation is a growing understanding of the economic and cultural elements that are the basis of successful bi-national tasks.
In the case of TechBA’s established outside of North America, the Ministry of Economy joined forces with ACELTEC, an organization created as a spin off from FUMEC
TechBA Results
Today, TechBA is present in 20 states in Mexico to identify, select and invite companies to join the program. Since 2005, it has integrated 321 companies to pre-acceleration and acceleration processes.
As a result of this effort, companies have accumulated more than 56 million dollars in commercial transactions or investment attraction, and have created more than 3,600 new jobs.
TechBA has worked with innovative companies related to high technology sectors with a strong presence in global technology markets, such as:
- Information and communication technologies
- Aerospace and automotive
- Life Sciences
- Electronics, including Microsystems and Robotics
- Advanced Materials
- Multimedia, Animation, Digital Content and Educational Services
- Biotechnology related to agricultural and food industries
- Alternative Energies and Sustainable Technologies
Acceleration Process
To identify companies that fulfill all quality and preparation standards, TechBA joins the Annual Gazelle Companies Identification Contest, which the Ministry of Economy organizes along with state governments and private organizations.
Companies interested in TechBA are evaluated and selected by a committee integrated by business and technology innovation experts, as well as international and Mexican investors.
The selected companies undergo a pre-acceleration process to explore their value proposition in the context of international markets. Once the value proposition is validated and their interest and commitment to the acceleration program is confirmed, the companies transfer a management team to one of the TechBA sites, in order to begin the acceleration process that enables them to structure a marketing strategy, interact with their first clients and search for alliances or venture capital.