In 2009, as the economy of Silicon Valley started to recover from the financial crisis, Bismarck Lepe, a tech entrepreneur with a Stanford pedigree and a few years working at Google under his belt, began looking around the world for cities to put his new business, Ooyala, which provides online video solutions for business.
He knew that the venture capital companies would be ready to open the tap again after the economic slowdown. He also believed that Ooyala was ripe for a big expansion. But Silicon Valley was simply too expensive to try to hire a full staff there.
He was more than a little surprised when the colleague he had asked to assess options around the world came back with the suggestion of Mexico’s second largest city, Guadalajara. “I was originally a little hesitant,” admits Lepe, “given that my parents had left Mexico.” ...