The Latin American Dynamism Project studies deep tech and artificial intelligence in the region, for the people who allocate capital and write policy. The first report asked where the money stops. The second turns to AI risks, and to the identity infrastructure being built against them.
The first report tested one explanation for the “LATAM Discount”: too little capital reaches companies with real science behind them. The evidence held, and left a question the report could not answer: once the money arrives, can the institutions on the receiving end run the technology? That question became the second report. Below is the sequence, with the figures each step rests on.
Latin America holds 42% of the world’s biodiversity and 58% of global lithium resources, draws 65% of its electricity from renewables, and is home to somewhere between 700,000 and 865,000 STEM researchers.
Per-capita deep tech investment is just $15, half of Europe’s and a tenth of the United States’. R&D funding runs roughly 70× lower than in the US. Of the ventures we mapped, 72% sit at Seed and 19% reach Series A, the stage where equipment, pilot lines and regulatory work get paid for.
LATAM assets trade at roughly a –48% discount to global peers and –23% versus other emerging markets, per the MSCI factsheet of 30 June 2026, against a historical average of –13.9%. That spread reflects contract enforcement, regulatory turnaround and how likely an exit is.
In 2024 deep tech funding grew faster than any other tech vertical in the region, and equity funding rose 189%. The IDB’s 20× expansion by 2032 is the high end of its scenario range, not a forecast.
The first report closes with recommendations across market readiness, investor readiness and a regional coalition: venture building, a pan-LATAM “34th Regime”, SEZs 4.0, a Deep-Tech CVC Bridge.
Panama’s digital driving licence was announced for 12 May 2026 and is still unavailable, waiting on its legal framework. El Salvador’s national ID system is finished and waiting on a legislative reform. In neither case was the cryptography the blocker. What has not been written is the statute, and behind it the public policy and the advocacy that would get one passed.
Large-market scale, abundant clean energy and a nearshoring tailwind, the structural ingredients other regions spent decades assembling.
Sources: UNEP & WEF (biodiversity) · USGS (lithium) · Ember, Global Electricity Review 2026 (renewables) · IDB & RICYT (researchers)
Latin America has traditionally played a passive role in the global technology industry, trading skills, resources and market opportunities at a discount. The LADP exists to change that: to accelerate the development and investment of frontier technologies, and to move the region from a battleground for technological appropriation to a strategic actor in tech-driven geopolitics.
No single country has the scale, resources and institutional reach to compete alone in the global deep tech race. We address that gap with data, providing unprecedented insight to the decision-makers who allocate capital and write policy.
The three success stories that circulate at every conference are not a data set. Allocators and ministries can work instead from the full classified list, with a named source and a date on every figure.
Whether the Seed-to-Series-A ratio moves is the test of whether any of the recommendations worked, and it is the number we expect to be judged on from one edition to the next.
Legal frameworks, procurement and regulatory review that keep pace with the engineering. That is a capacity problem, and foreign investment does not solve it.
Every company we classified, published as open data with its sector, stage and funding composition, and the classification method beside the numbers. Data cutoff March 2025.
The 120-page deep tech report, cited chapter by chapter, and the 109-page AI-risks report, published under CC BY 4.0 with its funding disclosed in the text: the Ethereum Foundation paid for it, and its subject matter overlaps with the funder’s own work at several points.
The recommendations from the first report, filterable by theme and by audience. Each lever is addressed to a named institution, a ministry, a development bank or a fund, with the first move it would have to make.
Nearly 100 contributors, among them founders, investors, accelerators, researchers and government actors, who worked on the first report and stayed reachable for the second.
From extremophile microbes to Earth-observation satellites, LATAM deep tech ventures are reaching global markets today.
Figures as published, September 2025. Since updated: Establishment Labs’ market capitalisation is now about $2.59bn, up from the $1.8bn shown here, and Satellogic’s disclosed total funding resolves at about $249m.
A constellation of 34 high-resolution satellites delivering affordable geospatial data for real-time monitoring of global environmental and economic activity. Backed by Liberty Strategic Capital, Tencent and the IDB.
Maker of minimally invasive, next-generation Motiva® breast implants, 25 patents across 25 jurisdictions, distribution to 70+ countries. NASDAQ-listed at a $1.8bn valuation, the region’s most valuable medtech venture.
Integrated hardware, software and AI that democratize predictive maintenance for industrial operations. Raised a $120M Series C led by Sapphire Ventures; backers include General Catalyst and Y Combinator.
Biological inputs for agriculture derived from extremophile microbes found in high-altitude deserts, boosting yields and soil health while cutting chemical fertilizer use. Backed by the Gates Foundation and SOSV/IndieBio.
Standards-based authentication and authorization for modern applications. Raised $210M+ across multiple rounds at a $1.92bn valuation, then acquired by Okta in 2021, a landmark regional exit.
Nanoparticle additives that turn urban surfaces into air-purification agents, degrading atmospheric pollutants in light. Deep Tech Pioneer & Track Winner at Hello Tomorrow’s 2023 Challenge.
Grid-operations AI that tackles energy curtailment and congestion to maximize renewable integration. Raised a $12M seed led by noa, with EDP Ventures and UC Berkeley Foundation.
Biodigester technology that converts organic waste into clean energy and fertilizer for farmers across a dozen LATAM countries. Backers include AXA IM and EcoEnterprises Fund.
Having a report on Deep Tech in Latin America is undoubtedly an essential contribution to the advancement of these technologies in our region. Relevant information like this will help us progress in a sector with immense potential to generate global companies.
The report provides actionable insights for policymakers, investors, and technology leaders seeking to understand how Latin America can harness Deep Technology to enhance its strategic autonomy and influence in this global geopolitical transition.
This report gives a clear view of the state of Deep Tech in Latin America, showing both the opportunities and the challenges. The region already has companies that can compete at the highest level, what is needed now is more global awareness, capital, and partnerships.
Latin America has tremendous potential to transform scientific knowledge into global solutions, especially in biosciences. This report systematizes experiences and guides us in building Latin America’s Deep Tech future.
Made possible by a grant from the International Strategy Forum.
Everything we have published, in one place.
