Tag: mexico

ITJ at the BIO Convention 2022

ITJ showcased at the largest BioMedTech event in the world

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SAN DIEGO, June 16th, 2022 — Concludes the BIO International Convention and the outcome of the triple helix’s collective effort in Mexico’s bid to exhibit itself in the major leagues of the BioMedTech industry was remarkable. ITJ took part every step of the way, and we were able to engage in many enriching collaborations.

The ITJ team attended One-on-One meetings and got the chance to work in a networking space scheduled for enterprises who attend the convention to get to know one another. International firms were able to see a way to expand their software engineering teams and gain access to a pool of software engineers with the skill set required by the industry in Mexico. Teams in the same time zone, with similar work culture, and with no recruitment or retention issues, this is a rising profile of our country and we are bringing this sample of capabilities to compete in the sector. We are really proud to start calling the Cali Baja region the new tech hub in Mexico.

Our delegation was led by Esteban Moctezuma, Mexico’s Ambassador to the United States, and the honorable Consul of Mexico in San Diego, Carlos Gonzalez, along with Natalia Figueroa as well as the Consulate’s strong team. Alongside ITJ, this collaborative effort of the Mex-Bio delegation to showcase Mexico’s capabilities in the Life Sciences field was a success.

Today, Mexico is turning into an upcoming global player in the biotech industry. With over 3,500 biotech companies across the country, coupled with strong academic institutions and groundbreaking research centers. 

Due to Mexico’s expanding potential as a market for consumption, manufacturing, and research, 20 of the top 25 pharmaceutical corporations in the world have operations here. Compared to 3,018 in Argentina, 2,181 in Puerto Rico, and 1,719 in Chile, Mexico has 3,909 registered clinical trials as of 2021. These drive us to seize every opportunity to participate in and contribute to the growth of the biomedical technology sector.

We are beyond grateful and always eager to witness more great collaborations like the ones we had at the BIO International Convention. 

So, what are you waiting for? Explore your digital strategy by partnering with us. For more info Contact Us.

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. 

software engineering team-itj

Are you struggling to find software engineers?

Posted on | by TeresaPenafiel | 1 Comment on Are you struggling to find software engineers?

The struggle to find well-trained software engineers has become an issue for enterprises globally, but is now more concentrated in the US. When firms hold open software engineering roles for months, the problem might appear obvious: There just aren’t enough developers. According to ManpowerGroup’s US skills shortage statistics, 69% of US companies would struggle to fill positions in 2020. Tech jobs are among the top ten most difficult to fill. According to the Bureau of Labor Statistics, the scarcity of engineers in the United States will reach 1.2 million by 2026, while 545K software developers will have left the market by then.

The majority of businesses are already attempting to solve the skills shortage. In the last five years, hiring developers as contractors and freelancers has been the most common method to address skills shortages. The truth is that no one solution fits all, but we present one here:

Nearshore and create technology centers of excellence in Mexico. The worldwide Covid-19 epidemic showed us that most businesses can successfully run a remote workforce, implying that the geographic and educational constraints that most companies previously faced are now essentially non-existent. It’s time to investigate fresh possibilities and think outside the box. Take a nearshoring solution, for instance, where working with a partner can bring you benefits such as: A contract, having a single cost, and does not need the adaption of additional offices, new equipment, or extensive training. Nearshore software professionals don’t need to learn new technologies and already have a lot of expertise and outcomes in their portfolios to help the new customer right away.

Mexico is a strategic location that allows firms to operate inside the thriving border economy while also improving relationships between Mexican and American industries. Mexico offers excellent quality for moving global and binational corporate investments, thanks to its unique cross-border integration and IT/Software development and its transnational culture and high-end binational talent pool.

About ITJ

ITJ serves fast-growing and high-value market sectors. 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. We create long-term relationships with partners and build highly-trained and reliable teams. For more information, visit www.itj.com.

Remote working, more cooperation, digital transformation, and other factors put new and rising strains on the workforce. Most organizations will need to adapt their staff to fulfill these needs to stay competitive. To nearshore is an achievable goal a company can set to find trained and qualified software engineers.

Buildings and currency symbols

New growing economy in Mexico

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New growing economy in Mexico gives the green light to international investment and settlement. With solid macroeconomic institutions, Mexico is the second-largest economy in LATAM and among the 15 biggest economies in the world. After rising by 5.9% in 2021, the Mexicos’ GDP will increase by 3.3% in 2022 and 2.5% in 2023. The progressive improvement in the labor market and the growing percentage of the population that is vaccinated and immunized will promote consumption. In addition, infrastructure initiatives will boost investment, and inflation will gradually decrease after a significant increase in 2021.

You can discover Mexico’s 6 Leading Destinations for Innovation Ecosystems at https://itjuana.wpengine.com/mexicos-6-leading-destinations-for-innovation-ecosystems/

Employment

In terms of formal employment, the number of workers connected with the Mexican Social Security Institute (IMSS) increased by 846 thousand in 2021, the highest number of positions created since 1998, according to this study. This is primarily due to the economic recovery, which allowed people to return to work after the closure and lost almost 1.1 million employees.

Service sector

The service sector in Mexico’s economy is very robust. This sector accounted for 64.07% of GDP and 61.07% of the labor force in the second quarter of 2021, while the industrial sector accounted for 28.33% of GDP and 25.12% of the workforce. Moreover, technological development plays a vital part in the service sector as Mexico currently boasts the world’s largest fin-tech industry. The number of digital startups quadrupled since 2010, and government and venture capital investment in the startup ecosystem is rising. 

Inflation

Inflation is expected to drop, with the headline rate lowering faster and more pronounced than the core rate. The prediction is that headline inflation will climb slower each quarter, reaching 4.1 percent by the end of 2022. Meanwhile, we estimate core inflation to rise in the first quarter of this year before gradually falling over the next three months, completing the year at 4.5 percent. Inflation is expected to return to more low levels in 2023, closing at 3.5 percent.

So why settle your business in Mexico? 

As a nearshoring opportunity, Mexico has the potential to become a natural bridge between the Atlantic and the Asia-Pacific regions. The continuous expansion of the Mexican economy will be enabled by the Mexican government’s economic development strategy, which includes a consolidation of domestic consumption as a result of the implementation of social programs and financial inclusion, an increase in private investment in infrastructure and strategic sectors, a higher level of public investment, and an increase in exports as a result of global value chain reconfiguration.

Technological development is around the corner when talking about Mexico’s vast talent pool. Mexico’s workforce boasts superior English and Spanish language skills, closeness to the United States and Canada, handy time zones, and collaborative culture, thanks to higher education, a growing middle class, and women’s economic engagement. As a result, Mexico is well-positioned to assist international technology growth, with over 650,000 working technology experts and a technology workforce growing three times faster than the world average.

Mexico aspires now to build its economy via appropriate economic, technological, financial, and commercial policies, despite the conditions that have hindered growth in recent years.

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.