Mexico: The New Global Technology Development Hub

Posted on October 6, 2022 | by TeresaPenafiel | 6 Comments

Due to its rapid expansion across a number of sectors and businesses, Mexico is quickly becoming a desirable innovation destination for American organizations. Many consider Mexico the new global technology development hub by now.

Mexico’s Technology Development Outlook

According to Frost & Sullivan, Mexico’s economy has the potential to grow by more than $245 billion in cumulative GDP through 2025 via increased investment in R&D, education, and a tech-enabled society.

Mexico currently features the largest fintech ecosystem in Latin America and serves as the gateway to Latin America for technological innovation. In fact, the country’s fintech law (Ley Fintech) went into force in 2018 and laid out regulatory sandboxes for fintech products and guidelines for crowdfunding, cryptocurrencies, and APIs. Due to the safety net provided by the regulatory framework, international investors are strongly attracted.

According to this report, the number of students enrolled in higher education has been rising consistently over the past ten years. In Mexico, the majority of high schools supported by the government are typically focused on the physical and mathematical disciplines. And this is where many young people who are good in math and science begin their quest to become professionals in order to improve their financial situation. Furthermore, a study carried out by the Mexican statistical office (INEGI) indicates that there are almost 1 million people with computer science and IT studies, consisting of 68% men and 32% female. In fact, the technology workforce in Mexico is growing three times faster than the average worldwide rate.

Mexico is one of the top exporters of information and communication technology equipment, the OECD claims. And, according to the World Bank, Mexico is Latin America’s top exporter of high-tech products, placing it on par with advanced nations in terms of technological advancement.

Mexico has invested significantly in infrastructure development. Thus, existing industrial areas in Mexico offer crucial services to businesses looking for foreign direct investment. The leading cities right now include Mexico City’s tech scene, Tijuana, Guadalajara, Monterrey, and others.

As in any industry, it’s fair to say that a variety of developments have combined to make Mexico a more appealing alternative, particularly for American businesses. We are in trying times in the US with an upcoming recession, and it’s time to look for better options. If you have nearshoring plans, contact us! We can assist you.

About ITJ

ITJ is devoted to serving fast-growing and high-value market sectors, particularly the Internet of Medical Things (IoMT), working with innovative medical device companies looking to improve people’s lives. With a unique BOT (build, operate, and transfer) model that sources only the best digital talent available, ITJ enables companies in the US to create technology centers of excellence in Mexico. For more information, visit www.itj.com.

Benefits of IT Nearshoring for US Companies

Posted on September 22, 2022 | by TeresaPenafiel | 7 Comments

A well-planned and expertly carried out IT nearshore assists in advancing your US-based company’s operations. The effectiveness and flexibility of a BOT approach are unmatched, allowing you to save expenses, make better use of your resources, access a bigger talent pool, and shorten your time to market.

IT Nearshoring for US Companies

Which nearshoring location is the best fit for you? That depends on the particular requirements of your company. When searching for nearshoring companies, you should first think about:

The degree of expertise needed for your project
How closely do you require collaboration between your internal team and distant team
Whether you believe that having direct, immediate contact between the two teams is necessary
How strictly do you wish to control your additional developers
The financial savings you’re aiming for

You should choose nearshore development if your distant teams must collaborate closely and communicate openly with your internal personnel. Tight cooperation and almost instantaneous communication are possible by the close proximity and little time difference. For US companies, this entails expanding into countries like Mexico and Brazil.

5 Advantages for Nearshoring to Mexico

You are the one in control

Nearshore solutions provide you with complete control over the creation of the product. In contrast to traditional outsourcing, you have full control over your remote engineers at every stage of the development process, just like you would with an in-house team.

You save money and time

Many of our clients cite the fact that the BOT model providers handle a sizable portion of the administrative and organizational headache as one of the nicest aspects of extended development. That covers everything, including setting up the workspace and workstations as well as recruiting and onboarding new employees. You are able to increase and maximize the utilization of your resources as a consequence. The development process is thereby sped up, and money is saved. Furthermore, selecting a service in Latin America will be less expensive than recruiting locally and internally in the US. Finally, the best part is that, after the training and setup, nearshore companies that handle the BOT model in their practices completely transfer the teams to your company.

You have access to a vast and large talent pool

Are you looking to recruit professionals with highly specialized or in-demand skills? If so, you could find the US market to be too tiny, too competitive, too expensive, or both. However, nearshoring allows you to access a genuinely global network of experts. In addition to having the necessary experience, they are significantly more affordable than regional developers.

You become more adaptable and agile

The ability to swiftly scale up or down your personnel and take care of urgent demands is provided by IT nearshoring. Additionally, it guarantees that your business gains from hiring diverse experts and people with different skill sets. Being more agile can provide you with a significant competitive edge in light of Silicon Valley’s and the US IT industry’s lightning-fast pace of innovation.

Time and zone proximity

The proximity of your larger development team in terms of geography and culture also makes communication more effective. Furthermore, you may schedule physical meetings and events more regularly thanks to the shorter travel distance between your headquarters and your enlarged employees. This encourages collaboration and a sincere sense of kinship with the company culture.

There are unique binational regional capabilities to expand the BioMedTech Valley Initiative in the Baja Cali megaregion. Take Tijuana and San Diego as an example; they are both just a 30-minute trip apart by car. If company A has an IT team and a center of excellence in Tijuana, they are free to travel there for a single day and see their staff without paying additional charges for hotel or transportation. For some, flying from the US to Mexico may be a big problem; however, a 30-minute drive could be a workable alternative.

Offering specialized technology solutions and IT staffing services in nearshoring from the US to Mexico is our area of expertise. If you need assistance developing the appropriate nearshoring solution for your company or assembling a bigger development or scrum team, we would be happy to help. Be sure to get in touch.

About ITJ

ITJ commemorates the National Hispanic Heritage Month 2022

Posted on September 13, 2022 | by TeresaPenafiel | 4 Comments

American culture has been profoundly influenced by the Hispanic-American community. Not just socially and economically, but the community has given so much to the nation to make it a richer and more diversified place.

Hispanic Heritage Month was created to celebrate the history, culture, and contributions of Hispanic-Americans, particularly those whose ancestors originated in Spain, Mexico, the Caribbean, Central America, and South America. Every year, from September 15 to October 15, Americans mark National Hispanic Heritage Month to honor the history, culture, and accomplishments of the community’s immigrants from these countries.

A little bit of History

When Congressman George E. Brown initially proposed Hispanic Heritage Month in June 1968, it began with a week of observance. The 1960s saw a rise in the need to acknowledge the accomplishments of the Latino population as a result of the civil rights struggle. The general public’s understanding of the diverse ethnic groups residing in the US was also progressively expanding. Brown represented the San Gabriel Valley and East Los Angeles, two regions with significant Latino and Hispanic populations. He wanted people to understand how important these towns were to American history. President Lyndon B. Johnson established Hispanic Heritage Week in 1968, and President Ronald Reagan expanded it to a 30-day event beginning on September 15 and concluding on October 15. It became law on August 17, 1988, when Public Law 100-402 was approved. Furthermore, September 15 is chosen as the month’s first day because it is significant for a number of reasons. It is the anniversary of their independence for the Latin American nations of Guatemala, El Salvador, Costa Rica, Nicaragua, and Honduras. From this point forward, September 16 and September 18 are the respective dates for Mexico and Chile’s independence days. On October 12, Columbus Day, commonly known as Dia de la Raza, occurs.

American Hispanics represent American principles in many aspects and have made incalculable contributions to the country. The culture and economics of the United States have been irrevocably changed by the Hispanic-American community.

At ITJ, we are proud to say that our community is composed of Latino and Hispanic software engineers with outstanding talent and passion for their careers. So many young IT professionals and students from different states in Mexico and Latin America have been the core heart of the company.

About ITJ
ITJ is devoted to serving fast-growing and high-value market sectors, particularly the Internet of Medical Things (IoMT), working with innovative medical device companies looking to improve people’s lives. With a unique BOT (build, operate, and transfer) model that sources only the best digital talent available, ITJ enables companies in the US to create technology centers of excellence in Mexico. For more information, visit www.itj.com.

Author: TeresaPenafiel