Findings are from the Deep Tech Radar Latam 2025 report, prepared by the Emerge consultancy, in partnership with Cubo Itaú
Brazil has the largest number of scientific and technological startups in Latin America, concentrating 952 (72.3%) of 1,316 deeptechs mapped in the region. The country, however, is still behind Chile and Argentina in volume of private investments in these companies, which develop technologies based on border science and engineering and seek to create products or solutions with the potential to solve global challenges.
The findings are from the report Deep Tech Radar Latam 2025prepared by the consultancy emerges, in partnership with Cubo Itaú, and presented on September 11 during the event Cubo Conecta 2025, in São Paulo.
“Brazil has the most substantial number of Deeptechs in Latin America. However, our startups are less invested and leverage less private capital.”said Daniel Pimentel, co -founder of emerge.
Chile leads the attraction of investments in deeptechs In Latin America, followed by Argentina and Brazil, they point out data from the report. According to Pimentel, this scenario reflects a “Game of outliers”(Points out of the curve), where few Chilean and Argentine” champions “companies stand out with large investment rounds, boosting the visibility of their local ecosystems.
In Chile, for example, only 3 of 73 deeptechs Identified in the country attracted US $ 607.2 million in private investments in recent years. In Argentina, two of the 145 scientific or technological startups received investments of around US $ 486 million, against US $ 216 million in deeptechs Brazilians in the same period.
“In Chile, for example, a single Deeptech [a NotCo] raised nearly $ 500 million investment and another [a PhageLab] More than $ 40 million. In Brazil, we have few or almost none that raised values close to these ”compared Pimentel.
In the expert’s assessment, the difference in market profiles helps explain this phenomenon.
While Brazil has a relevant domestic market to absorb innovations, countries like Chile and Argentina, with smaller markets, have international focus from the beginning and more easily attract global investors, consolidating as hubs of deeptechs said Latin America.
“In Brazil there are also few investment funds with theses [foco] em deeptechs. Argentina and Chile have more specialized and focused funds ”he declared.
The businesses that are being created and developed in Brazil in this segment are not necessarily structured and with a sufficiently defined mission to act in the game of venture capital (Risk capital) global, evaluated Pimentel.
“Deeptechs have a demand for substantial capital and necessarily need to be born with a look at the global market, including to break the technological risk they face. But we see that in Brazil our businesses do not necessarily have this complete ambition.”
Public investments
The authors of the report found that 47% of deeptechs Brazilians did not receive any kind of investment. Among those who got some financial support, only 7% received private capital and 36% only have public resources, mainly brought by promotion agencies such as FAPESP, through the Innovative Small Business Research Program).
“FAPESP is unquestionably a Deeptech Global Development Agency. The institution has been maintaining Pipe 20 years ago, which creates and stimulates the creation of scientific and technological -based startups in São Paulo. There are several companies that have become relevant because of the investments they received from the foundation and developed from pulmonary respirators, through drugs and solutions for agribusiness.”said Pimentel.
The State of São Paulo also holds the largest number of deeptechs In Brazil, with 467 companies, mainly active in health and well-being and agro and food segments, such as most Latin American scientific and technological startups. This focus reflects the regional vocation, marked by competitive agribusiness and high demand in public health, positioning the region in areas of direct impact on society and global food security, the authors evaluate.
From the technological point of view, the deeptechs From the biotechnology segment lead, especially health and agro, taking advantage of structural advantages such as biodiversity and agribusiness.
Artificial intelligence and computing also began to emerge in the focus of deeptechs Latin American in recent years, positioning itself as transverse technologies, applied in health, agro, industry and energy, and unlocking productivity gains and insertion in value global chains.
Emerging areas such as quantum technologies, blockchain and advanced chemistry and physics are still niches, but represent the next waves of deeptechs In the region, especially in defense, sovereignty and infrastructure sectors, the authors estimate.
However, for this, it will be necessary to expand spin-offs Academic, attract specialized risk capital and diversify the technological base, connecting structural vocations on topics such as energy, biodiversity and new materials to global innovation agendas, have considered.
“There is a very large space for Latin America to take the global front in these guidelines with technologies based on science and border engineering”said Lucas Delgado, co -founder of emerge.
The report can be accessed.
With information from.
