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Copycat Startups Flourish Abroad In Latin America

Startups in foreign markets are frequently based on business models ripped from the pages of American technology press.

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PagPop

If you can make payments easy, you can make a mint. That’s what Square, an electronic payment service that allows users in the United States to accept credit cards through their mobile phones, is on its way to doing.  Given the market opportunity, it may come as no surprise that PagPop is taking off too. The Brazilian payment gateway uses the same type of technology as Square to make payments easy for smartphone users. But don’t worry — it’s not a total copy: PagPop is oblong.

Torneo de Ideas

People need good design everywhere, and not everyone speaks English, so it seems only logical that someone would take the 99Designs business model and adapt it to their local market. Torneo de Ideas, is a Mexican company that has set up a marketplace for designers of all types to produce websites, t-shirts, logos, and the like.

Interestingly, all these companies were products of incubators, business accelerators or small venture capital investments in their local markets.

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Photo Credit: Blanco

M. Christopher Johnson is an experienced strategy consultant, entrepreneur, investor and writer. He is the editor of the Latin America Startup Blog, speaks Spanish and is based in Mexico City.

 

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