The Startup Ecosystem of Uruguay

Uruguay has 1 city in the top 1000 and is one of South America’s best countries for setting up a startup.


Uruguay’s startup scene saw an increase in 2023 and jumped 1 spot from the previous year, outranking Malta.



Regional Ranking

In South America

Global Ranking



Startup Ecosystem Overview

an aerial view of a city with tall buildings
Uruguay’s main startup ecosystem advantage is the country’s stability. Surrounded by nations facing ongoing economic and political crises, Uruguay is an island of certainty. Hence, it is no surprise that Uruguay’s startup ecosystem has promising potential, especially with dLocal, the country’s first startup to exit with a valuation above US$ 1 billion, as well as the arrival of Argentinian entrepreneurs such as Marcos Galperin of MercadoLibre.

The Universities in Uruguay are involved in the ecosystem with accelerator programs such as CIE-ORT, Fundación Julio Ricaldon, and ITHAKA. The Universidad ORT Uruguay was home to the founders of several successful startups, such as Maximiliano Casal of Newports, the Mexico-based unicorn and a digital-freight forwarder. If Maximiliano had stayed in Uruguay, Newports would be a success story for the country.

The government supports the startup ecosystem through various programs and initiatives, including funding research and applied sciences projects, a support platform with participation of private and public sector organizations and state-run agencies. One example is the National Agency for Research and Innovation (ANII), working on a mission to encourage new ideas with grants and tools for entrepreneurs. However, the government should be more involved in developing initiatives for the ecosystem to ensure local talent stays in the country. While working on such initiatives it is important not to focus solely on the capital city, but to nurture seed activities in other cities to make entrepreneurship a national phenomenon.

Another way that the public sector can support the growth of the ecosystem is by creating more opportunities for startups to acquire funding. This can be done by activating private sector stakeholders while improving the country’s regulatory and digital infrastructure. As the country improves in these areas, it should promote itself to foreign entrepreneurs and investors as a fertile place to scale regional and global startups. The country already has many unique advantages to promote, such as the exceptional internet connectivity, high literacy rates, a strong tech sector, good cooperation with other countries, and startups that excel in AI and gaming.


Uruguay Top Startup Industries

Software & Data icon
Software & Data
#55 worldwide

10 startups

Fintech icon
#62 worldwide

7 startups

Ecommerce & Retail icon
Ecommerce & Retail
7 startups

7 startups

Ecosystem HealthCheck

Uruguay Ecosystem Health Check

The health check tables allow you to look at the performance Uruguay has in each of the parameters that are part of StartupBlink's ranking algorithm. There are five tables, corresponding to the three subscores, the subscore analysis and industry ana...

  • Overperformance
  • Performance equal to global ranking
  • Underperformance
ParameterParameter Global rankParameter rank change since 2022ResultContribution to total scoreRank gain / loss due to parameter
Total Score5512.834100%0
Quantity Score6400.39213.85%-2
Sample size of startups82-23312.59%-5
Sample size of accelerators108-119-1100%-1
Sample size of coworking spaces80-810210%-1
Community Score33N/A0.0361.26%0


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The Startup Ecosystem in Uruguay

In 2023, Uruguay register a rise in Software & Data startups. Some of the most notable success stories in this industry are those of , Meitre.

Global Rank

Uruguay is ranked within the top 100 startup ecosystems globally.

Top Industries

Uruguay’s startup scene is best represented in Software & Data, Fintech, and in Ecommerce & and Retail.

Top Cities for Startups in Uruguay - Ranked by StartupBlink
StartupBlink ranks the startup ecosystems of 100 countries and 1,000 cities. Download our latest Global Startup Ecosystem Report.
2023 National Rank & Change ▲
2023 National Rank & Change City
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Global Rank & ChangeTotal Score
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Quantity Score
Quality ScoreBusiness Score
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Notable Startups in Uruguay
Meitre startup icon
Bunker DB startup icon
Bunker DB
Bankingly startup icon


Successful Software & Data startups in Uruguay
Bunker DB startup icon
Bunker DB
Zyte startup icon
GeneXus startup icon

Featured Startup Ecosystems

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