International Startups: Tips for navigating the Peruvian market

Startups from Chile and Argentina are now choosing Peru as a new destination for their operations in the high-tech sector.

Chilean startups AgroMatch and BSN Biosano received guidance from the Commission for the Promotion of Peru for Exports and Tourism (PROMPERU) to help them connect with key players for their business operations in Peru.

These initiatives highlight Peru's appeal as a destination for foreign technology companies by providing a supportive environment for their growth and expansion. The high-tech sector in Peru is one of the most promising in the country, and it is anticipated that more international tech-focused companies will see Peru as an attractive option for their development and expansion.

Photograph: Shutterstock

Promising startups in Peru

AgroMatch, a Chilean platform that facilitates collaborative leasing of agricultural machinery, will begin operations in Piura and plans to expand to Ica, Trujillo, and Chiclayo by 2025. Similar to a ‘tractor Uber,’ this service optimizes machinery use, providing local farmers with year-round access to essential equipment.

BSN Biosano, an Argentine startup specializing in technological solutions for the mining and oil industries, plans to establish its own laboratory in Peru by the end of 2025. The company offers advanced chemical products and specialized equipment, emphasizing sustainability and technological efficiency.

Fact

It is important to note that:

• The high-tech sector in Peru has experienced substantial growth in recent years, with a 130 % increase in investments from 2019 to 2023.
• This growth, combined with a strong position in the Global Innovation Index 2023, underscores Peru's appeal as a prime destination for technological investment in the region.
• From 2003 to 2023, Peru has attracted USD 402.2 million in foreign direct investment in high technology, with Spain, the United States, and Argentina being the primary investors.

Photograph: Shutterstock