In brief
Driven by tech entrepreneur Gabriela Cibils, Paraguay is on a mission to become South America's Silicon Valley. With a focus on attracting global tech firms, the country boasts cheap, green energy sources, primarily from its hydroelectric power plants. Key initiatives include developing a digital park and training young tech talent, with significant efforts aimed at inclusivity within the sector.
Gabriela Cibils is on a mission – to help turn Paraguay into the Silicon Valley of South America.
When she was growing up in the landlocked country, nestled between Brazil and Argentina, she says the nation wasn't super tech focused. But it was different for Ms. Cibils, as her parents worked in the technology sector. And she was inspired to study in the US, where she got a degree in computing and neuroscience from the University of California, Berkeley.
After graduating she spent eight years working in Silicon Valley, near San Francisco, with roles at various American start-ups. But rather than staying permanently in the US, a few years ago she decided to return home to Paraguay. She's now helping to lead efforts to build a large and successful tech sector that puts the country of seven million people on the world map - and attract some of the globe's tech giants.
I saw first-hand the impact that technology can have on your life, says Ms. Cibils. After being exposed to such a different world [in Silicon Valley], it's my responsibility to bring that mindset back and combine it with the talent I see in Paraguay.
She is now a partner at global technology and investment firm Cibersons, whose headquarters is in Paraguay's capital Asunción.
While most countries would love to build a world-class tech sector, Paraguay has a distinct advantage in one regard – an abundance of cheap, green electricity.
This is thanks to 100% of its generation now coming from hydroelectric power. The giant Itaipu Dam, which forms part of the border between Paraguay and Brazil, supplies 90% of Paraguay's electricity needs and 10% of Brazil's. This surplus has resulted in Paraguay having the lowest electricity prices in South America.
The Paraguayan government hopes that the country's abundance of cheap, green electricity will attract global tech firms increasingly focused on the massive energy demands of AI computing. If you want to install any technology investment like AI data centres, keep in mind hydroelectric power is both renewable and steady, says Paraguayan software development entrepreneur Sebastian Ortiz-Chamorro.
President Santiago Peña has taken steps to encourage investment from firms like Google and OpenAI, and Minister of Technology and Communication Gustavo Villate highlights the country's youthful population, low taxes, and economic stability as key advantages.
The government plans to invest in a new digital park in Asunción, which will also house The University of Technology, aiming to create a skilled workforce. Initiatives like Girls Code strive to bridge the tech gender gap, training young women in programming and robotics.
Despite challenges, including bureaucratic hurdles, Cibils maintains that with innovation at its core, Paraguay can indeed become a tech superpower.
