Aguascalientes, Mexico; February 6, 2025The Agreement between Mexico, the United States and Canada (T-MEC) not only redefines not only redefines North American trade relations, but also opens up new opportunities for entrepreneurs and small and medium-sized enterprises (SMEs). new opportunities for entrepreneurs and small and medium-sized enterprises (SMEs) in strategic sectors. in strategic sectors.
The Dr. Irery Lizbeth Melchor Duránresearch professor at the School of Economics and Business Administration y Advisor of the SME Affairs Committee of the T-MEC Mexico Regionrepresenting the Universidad Panamericana campus Aguascalientesanalyzes the impact of the agreement and the emerging opportunities for business development.
The T-MEC and its impact on Mexican entrepreneurship
The North American trade integration accounts for 14% of global trade, surpassed only by the European Union (29%) and the Regional Comprehensive Economic Partnership (25%), according to the World Bank.The World Bank reports that North American trade integration accounts for 14% of global trade, surpassed only by the European Union (29%) and the Regional Comprehensive Economic Partnership (25%). In this context, the T-MEC becomes a key catalyst for the growth of Mexican SMEs, boosting high value-added sectors.In this context, the T-MEC becomes a key catalyst for the growth of Mexican SMEs, boosting high value-added sectors and strengthening the country's competitiveness in the international market.
Key sectors
Despite the growing interest in entrepreneurship, few consider the industrial sector to be a industrial sector as a viable option. However, under the T-MECthe greatest opportunities are in industries such as:
- Automotive (19%).
- Machinery and equipment (14%).
- Electronics (11%).
- Mining (13%).
- Chemistry and plastics (10%).
In addition, emerging sectors such as aerospace aerospace, medical equipment and semiconductors have great potential. semiconductors have great potential. Countries such as Costa Rica and the Dominican Republic are making progress in the medical equipment market, Mexico has a unique competitive advantage in that it has a consolidated trade agreement with two of the world's largest economies..
"The T-MEC offers a unique opportunity for Mexican entrepreneurs to enter international value chains and strengthen their presence in strategic sectors. and strengthen their presence in strategic sectors," said Dr. Melchor Durán.Dr. Melchor Durán emphasizes.
The B2B market and its potential
The Business to Business (B2B) market is twice as large as the Business to Consumer (B2C) market, according to Euromonitor.according to Euromonitor. This represents a great opportunity for industrial and technology entrepreneurs. However, entry into this market requires investment in innovation, intellectual property development and advanced management strategies..
A successful example is GRIDXa Latin American company that connects biotech scientists with business experts to create companies with environmental and social impact.
Cases such as Bioplastixa startup Mexican startup that develops bioplastics from genetically modified bacteria, show how biotechnology can drive the emergence of new companies in sectors such as the automation of bioprocesses and the manufacture of industrial bioreactors.
These business ecosystems require the collaboration of multiple satellite companies that support productive systems, which represents a great opportunity for Mexican entrepreneurs seeking to take advantage of the T-MEC.
The role of intellectual property in entrepreneurship
One of the main challenges for technology entrepreneurs is the management of intellectual property. intellectual property management. According to Esteban Canepa, founder of Sadeem Technology in Saudi Arabia, one of the most complex aspects of entrepreneurship in advanced technologies is the process of developing and commercializing patents.
For example, the Center for Entrepreneurship and Innovation of the Universidad Panamericana has stood out as a leading institution in legal issues related to the creation of science and technology-based companies, according to experts in innovation and entrepreneurship.
"The strengthening of an innovation ecosystem in Mexico depends on the creation of legal frameworks that protect intellectual property. the creation of legal frameworks that protect intellectual property and facilitate the and facilitate the internationalization of emerging companies".The Panamericana's academic emphasizes.
Towards a new generation of entrepreneurs
The T-MEC not only regulates tradetrade, but it also opens doors to entrepreneurship and the development of new industries in Mexico.. It is essential that entrepreneurs to adopt a global vision, develop innovative projects and strengthen their business capabilities in markets with more developed ecosystems such as the United States and Canada. in markets with more developed ecosystems such as the United States and Canada.
Taking advantage of the opportunities of the T-MEC and strengthening the innovation ecosystem in Mexico is a shared task between entrepreneurs, institutions and government. It is time to transform the country's potential into competitive, sustainable companies that generate a positive impact on society.
"The conditions are in place for Mexican entrepreneurs to think big and integrate into strategic sectorsand take advantage of the knowledge and resources of more advanced markets such as the United States and Canada", concludes Dr. Irery Lizbeth.concludes Dr. Irery Lizbeth.
Universidad Panamericana is committed to fostering entrepreneurship and to the promotion of entrepreneurship and innovation as fundamental pillars for the transformation of its students, promoting their development as leaders capable of generating impact in the business world.
