Guatemala's Silicon Valley
"Many of the companies inside, under exposed air ducts meant to signify Important Creative Work, were founded by Guatemalans with foreign experience. The motion graphics start-up on the seventh floor, BigoMo, consisted of two people: one, Pedro Méndez, 28, had worked in Spain; the other, Kristoffer Hormander, 25, recently returned from three years at Full Sail University outside Orlando, Fla.
Both said that they came back to Guatemala because they felt there were more opportunities for creativity, and less competition for business. One recent independent report, from The Global Entrepreneurship Monitor, found that the average cost to start a business in Guatemala is only $7,569, compared with $17,513 in Brazil and $39,670 in Costa Rica."