Will Paraguay Become the Next Silicon Valley? The Green Tech Oasis Awaits!

Gabriela Cibils is on a transformative mission to position Paraguay as the Silicon Valley of South America. Growing up in a country that wasn’t very tech-focused, Cibils was inspired by her parents in the technology sector. She pursued her studies in the U.S., earning a degree in computing and neuroscience from the prestigious University of California, Berkeley, and spent eight years at various start-ups in Silicon Valley. Eventually, she returned to Paraguay, where she is now a partner at Cibersons, a global technology and investment firm based in Asunción.

Cibils emphasizes the critical role of technology in transforming lives and is determined to harness Paraguay’s talent and its potential as a vibrant tech hub. A key advantage for Paraguay is its abundant and affordable green electricity, primarily generated by the gargantuan Itaipu Dam, which supplies 90% of the country’s energy needs. This hydroelectric power source not only supports clean energy but is also highly attractive for businesses that require consistent energy, particularly industries reliant on AI and data centers.

The Paraguayan government is eager to attract global tech firms, hoping that the country’s advantageous energy situation can draw giants like Google and OpenAI. Minister of Technology and Communication, Gustavo Villate, highlights several attractive factors, such as Paraguay’s young population, low taxes, and economic stability. Plans for a new digital park near Asunción’s airport aim to foster collaboration between the public sector, private firms, and educational institutions, with an initial investment of $20 million by the government.

However, to support this growth, there’s a pressing need for more trained young professionals. Initiatives abound, such as the partnership with Taiwan to launch the University of Technology in the new digital park. Additionally, efforts like Girls Code, led by Vanessa Cañete, focus on bridging the gender gap in technology by training young women in programming and robotics.

Despite the general optimism about Paraguay’s potential, challenges remain, particularly regarding bureaucratic hurdles that can hinder foreign investment. Cibils points out that while innovation should remain central to their strategy, overcoming these obstacles is essential for the nation to become a superpower in the tech sector.