Montevideo is a place «with solid foundations to be recognized as a benchmark innovation-based entrepreneurship ecosystem in Latin America». This is what is highlighted in the report Ecosystems of innovation-based entrepreneurship in Ibero-America – City of Montevideo, carried out by Global Ecosystem Dynamics (GED), an international research initiative affiliated to the MIT D-Lab Local Innovation Group, which in Montevideo was supported by the Technological University of Uruguay (UTEC) and the National Development Agency (ANDE).

The study, in which almost 200 companies, educational institutions and other organizations, including Pyxis, participated, shows that Montevideo achieves the highest rate of collaboration compared to the ecosystem studies conducted to date.

More than 750 collaborations were mapped, reflecting the largest network of collaborations identified based on the Social Network Mapping methodology for the TE-SER model. With high efficiency and a low propensity to collapse, the structure demonstrates the good level of collaboration that exists in Montevideo. Everything that is collaborative and contributes to growth or academic knowledge is a source of pride», says Analía Semblat, a member of Pyxis Research who experienced this study from close quarters and who brings us the main conclusions of the study both globally and for the Pyxis ecosystem.

The study found that the main motivations of those who drive collaboration in Montevideo are not behind a financial goal. The development of joint projects (30.7%) and the exchange of knowledge (28%) are the priorities of the actors who promote and carry out collaborations with others. Only a little more than 15% consider obtaining financial resources as their main objective. These data show the commitment of the actors in pursuit of a synergy that has value in itself, beyond its collateral benefits.

The wide network of collaboration between organizations, the motivations they pursue focused on growth and the high formality of relationships, makes Montevideo an ecosystem where collaborations between companies are highly productive. According to Analía this is due to multiple factors, but mainly «to the dimensions of the environment».

Being such a small ecosystem, mutual support becomes a key factor. Otherwise no one would be able to grow. Here we all know each other, we collaborate with each other,» says Analía. Otherwise, each bubble would stay within itself and would not be able to count on the external impulses that promote its growth. In addition, Analía adds that »At Pyxis we are used to talk about coopetence and we are convinced that through cooperation and collaboration we are able to enhance collective growth,» values that are shared in Montevideo’s entrepreneurial ecosystem. With a focus on synergy, really thinking about the impulses that the other needs, the companies link with each other to move forward.

Pyxis has always been committed to building ecosystems and growing through a large network of collaborators, says Analía. Its own internal structure works in the same way. It promotes collaboration among the different business units and through the relationships they establish among themselves. It is also through Pyxis’ direct support to other organizations, either by financing projects, providing operational support to growing ventures or being part of partnerships. All these ways of building synergy are part of a culture at Pyxis that reproduces the values highlighted in the research.

In this sense, Analía concludes that »this study served to validate and legitimize what we do every day, to give a framework to our collaborations, to finish identifying the role of Pyxis in supporting entrepreneurship». In short, to demonstrate how different functional mechanics on a large scale are also functional on a smaller scale. To show that we are part of something bigger.

Click here and access the report.
Click here and access the interactive map of Montevideo.