Gabriela Cibils is on a mission – to help turn Paraguay into the Silicon Valley of South America.
When she was growing up in the landlocked country, nestled between Brazil and Argentina, she says the nation wasn't super tech focused. But it was different for Ms. Cibils, as her parents worked in the technology sector, inspiring her to pursue studies in computing and neuroscience at the University of California, Berkeley.
After graduating, she spent eight years in Silicon Valley, California, working with various American startups. A few years ago, she decided to return to Paraguay, where she aims to lead efforts in building a robust tech sector that could attract global tech giants.
Ms. Cibils firmly believes in the transformative impact of technology. After being exposed to such a different world [in Silicon Valley], it's my responsibility to bring that mindset back and combine it with the talent I see in Paraguay, she asserts.
Her current role as a partner at Cibersons, a global tech and investment firm headquartered in Asunción, underscores her commitment to this vision.
One of the unique advantages Paraguay holds is its access to cheap, green electricity, primarily sourced from hydroelectric power, which is largely contributed by the Itaipu Dam on the Paraná River, the largest hydroelectric facility outside of China. This abundance not only supplies 90% of Paraguay's electricity but has also made the country the largest exporter of clean energy in the world.
The government is actively promoting its renewable energy as a key incentive for attracting global tech firms focused on the energy-intensive demands of artificial intelligence (AI) and data centers.
Local entrepreneur Sebastian Ortiz-Chamorro emphasizes the reliability of hydroelectric power, stating, Compared to other renewable sources like wind and solar, which have ups and downs, [hydroelectric power] is much more attractive for creating data centers or any other electro-intensive activities that require a steady source of electricity.
President Santiago Peña's recent discussions with companies like Google and OpenAI are part of the government's strategy to showcase Paraguay's potential. Minister of Technology and Communication Gustavo Villate is also regulating efforts to create a favorable business environment with incentives that highlight Paraguay's relatively low taxes and economic stability.
Plans are underway for a new digital park near Asunción’s main airport, which the government plans to partially fund while encouraging private investment. Villate mentions investing around $20 million for the initial stage, aiming to foster public-private partnerships.
However, for Paraguay to realize its aspirations fully, addressing educational needs is crucial. Strengthening training initiatives is a priority for Cañete, the president of the Paraguayan Chamber of Software Industry, who is not only keen to augment the technical skill set of the workforce but also boost female participation in tech through initiatives like Girls Code.
Despite existing challenges such as bureaucracy, Cibils remains optimistic, stating, if you put innovation at its core and leverage all the benefits that the country has, I think Paraguay can be a superpower. The socio-economic landscape of Paraguay continues to evolve, indicating a brighter future for its tech ambitions.
