“the most logical exit strategy is being acquired by a strategic partner”
Juan Carlos García (@jcgs68), Country Director & GM of Amazon Mexico.
What do you do currently?
I am Country Director & GM of Amazon Mexico, Co-founder of a mobile app startup called PagaMobil.com and VP of eCommerce of the Mexican Chamber of Internet and eCommerce (AMIPCI). I am also mentor for tech startups in Endeavor Mexico and Naranya Labs.
How and when did you get involved with the Mexican entrepreneurial ecosystem?
When I quit my job as investment banker in Wall Street in 1999 and I made the decision to launch my own startup. It was called Decompras.com and it was the first eCommerce pure-play in Mexico.
How would you describe the ecosystem in Mexico?
I think that it is very emerging, but their foundations are interesting with strong growth in some areas such as eCommerce and Fintech. But it’s still early on the game (Day 1) for the ecosystem in Mexico.
What do you expect in the next 12 months?
Very positive, I think that the human talent is here and there is a strong growth in the consumer tech side. Also the venture capital sector is quickly improving.
What are the main challenges?
Access to capital, and especially having an exit strategy for the VC funds. I don’t think that IPOs are an option in Mexico and based on my past experience, the most logical exit strategy is being acquired by a strategic partner.
What change or result would bring the greatest benefits for the ecosystem?
A change in the investment law, allowing Mexican Pension Funds (SIEFORES), to invest directly in venture capital. The current system is very bureaucratic and doesn’t incentivize the Entrepreneurial Capital, which is still very risk averse.
Describe your typical day
I start very early (5 am), and while at the gym I check news and articles about tech startups around the globe as well as my email. By 8 am I am at the office with a lot of videoconferences with Seattle and my team here in Mexico. It is very exciting to spend your day working and creating things with the smartest people in the world, who share also a long term view.
Who is your favorite entrepreneur?
Jeff Bezos, my boss.
A recent book do you recommend?
“The Black Swan: The Impact of the Highly Improbable” by Nassim Nicholas Taleb.
“The Martian” with Matt Damon.
Smartphone, tablet, laptop or desktop?
iOS or Android?
Favorite social network?
Ski in Park City, Utah.
What are your goals for the next 12 months?
1) Keep adding selection to Mexican customers (millions of unique SKUs) by adding new brands and launching new categories, 2) continue improving our prices, 3) faster delivery, and 4) add new payment methods.
One word that describe you?
Previous interview (in Spanish): John Farrell