Latin American Unicorn Firms: Transcending Entrepreneurial Hubs

Borda A.; Buitrago R.; Cahen F.; Hermans M. · Unicorns from Emerging Economies: Creating Value through Technology and Innovation (2025) · DOI: 10.1017/9781009469210.008

Resumen

This chapter examines the emergence of unicorn firms in Latin America, focusing on the interplay between local entrepreneurial ecosystems and firm strategies. Using an entrepreneurial ecosystem approach, we integrate the dual significance of tangible ecosystem resources (e.g., human capital, funding) and intangible digital assets (e.g., digital platforms and linkages) in driving firm success. We also analyse how national and local ecosystems in Argentina, Brazil, Colombia, Mexico and Peru impact the development of these high-growth firms. We identify strategies entrepreneurs use to leverage available resources and navigate institutional obstacles, emphasising the role of digital ecosystems in scaling operations beyond local boundaries. Our findings contribute to understanding the dynamics of unicorn emergence in Latin America and offer theoretical and practical insights into how entrepreneurs overcome institutional challenges and leverage digital strategies to achieve global or regional impact. © Cambridge University Press & Assessment 2026.

Instituciones: Universidad ESAN