Cloud and Startups Trigger IBM’s $15 Million Investment in Argentina

IBM has announced that it is investing $15 million to expand its digital innovation capabilities and boost the adoption and technological transformation of Argentine clients, startups and universities.

This includes the opening of a Client Center – Center for Technological Innovation – to help clients face business challenges in their industries through AI, the cloud, blockchain, security and Internet of Things.

“We want to drive the adoption and technological transformation of all of the local ecosystem: clients, startups and universities,” said Roberto Alexander, the president and general manager of IBM Argentina. Alexander told Nearshore Americas that the startup ecosystem in Argentina is getting bigger and bigger.

“Cloud computing is a big enabler in this process as it democratizes the access to vanguard technologies to a few simple clicks for all the innovators in the country. It doesn’t matter if they are big companies, startups or universities,” he said.

He said that Argentine companies are investing in AI, cloud, security and blockchain solutions to accelerate their business’s growth, offer better products and services to clients and a personalized shopping experience.

One of the programs his company offers to help and strengthen entrepreneurs is called “Startups with IBM” which gives user access to credits to use in the IBM Cloud where they can utilize over 170 services in the cloud.

Economical woes?

Alexander underlined that IBM has been in Argentina for 95 years with a strong commitment to develop professionals and growth in the country. “The country is in a challenging context on an economic level, but we understand Argentina and have gone through different situations over all those years, and we are focusing on our middle and long term commitments,” he said.

He added: “It is fundamental to strengthen the entrepreneur culture and of innovation to give a response to social problems.”

There has been good news for startups across Latin America recently, with Uruguayan based fintech startup Bankingly raising $5.25 million in funding and Colombian-based Polymath Ventures planning a $100 million investment fund for the region’s companies.