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Gabriela Cibils is spearheading an ambitious initiative to transform Paraguay into the Silicon Valley of South America.
Reflecting on her upbringing in the landlocked nation, nestled between Brazil and Argentina, Ms. Cibils notes that Paraguay “wasn’t super tech focused” during her formative years.
However, her exposure was different due to her parents’ involvement in the technology sector, which inspired her to pursue higher education in the U.S., culminating in a degree in computing and neuroscience from the University of California, Berkeley.
Following graduation, she spent eight years in Silicon Valley, near San Francisco, contributing to various American start-ups.
Instead of settling permanently in the U.S., she decided to return to Paraguay a few years ago. Now, she’s instrumental in leading efforts to establish a thriving tech sector, aiming to put the country of seven million on the global stage and attract leading tech corporations.
“I saw firsthand the impact that technology can have on your life,” Ms. Cibils states. “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 currently holds a partnership at Cibersons, a global technology and investment firm headquartered in Asunción, the capital of Paraguay.
While many nations aspire to develop a world-class tech industry, Paraguay possesses a unique advantage: an abundant supply of affordable, green electricity.
This is attributed to its reliance on hydroelectric power for 100% of its electricity generation.
At the heart of this is the Itaipu Dam, a colossal structure on the Paraná River, which forms part of the border between Paraguay and Brazil. This hydroelectric power station, the world’s largest outside of China, fulfills 90% of Paraguay’s electricity requirements and 10% of Brazil’s.
Paraguay’s electricity surplus translates to the lowest electricity prices in South America.
Moreover, it is the world’s leading exporter of clean energy.
The Paraguayan government aims to leverage its abundant, inexpensive, and green electricity to attract global tech companies that increasingly require vast energy resources for AI computing.
“If you want to establish any technology investment like AI data centers, keep in mind hydroelectric power is both renewable and steady,” says Paraguayan software development entrepreneur Sebastian Ortiz-Chamorro.
“Compared to other renewable energy sources like wind or solar, that have their ups and downs, it’s much more attractive for creating data centers or any other electro intensive activity that requires a steady electricity source.”
He further notes that, in addition to Itaipu and the Yacyretá Dam, another large state-owned hydroelectric plant, private companies can readily construct their own smaller facilities.
During a visit to California last year, Paraguay’s President Santiago Peña engaged with companies such as Google and OpenAI to encourage investment in Paraguay. The possibility of these industry giants establishing large operations in the country remains to be seen.
Minister of Technology and Communication Gustavo Villate is collaborating closely with the president on these ongoing efforts.
“We have the youngest population. We have a lot of renewable green energy. We have low taxes and economic stability,” he proudly states.
During a tour with the minister of a planned new digital park near Asunción’s main airport, the area is currently undeveloped, consisting of green fields and some army barracks.
Mr. Villate displays plans outlining the envisioned lakes, a childcare center, and other infrastructure, anticipating completion within two years.
“The government are going to invest around $20m (£15m) for the first stage, but the idea is for private companies to invest the rest,” he explains.
Despite the park’s unfinished state, Mr. Villate emphasizes that the existing collaboration among the public, private, and university sectors is crucial in fostering an ecosystem that attracts foreign investment.
The government believes that the country’s young population will be a key draw, providing a substantial tech workforce. The average age in Paraguay is 27.
However, further training for young people is necessary. The technology minister indicates that the new digital park will also house The University of Technology, a joint venture between Taiwan and Paraguay.
Concurrently, other initiatives are underway to train young people in the country. “We are working really hard to create a mass of software engineers, programmers and everything you need to provide software services,” says Vanessa Cañete, president of trade group Paraguayan Chamber of the Software Industry.
Ms. Cañete also expresses her passion for encouraging more women to pursue computer engineering. In 2017, she established Girls Code, a non-profit association dedicated to bridging the tech gender gap.
It organizes programming and robotics workshops for teenagers and young women, with more than 1,000 individuals having received some form of training to date.
Ms. Cañete also mentions that software developers receive English lessons for up to four years to enhance their communication with international firms.
While the individuals I encountered are highly optimistic about Paraguay’s potential in the tech world, they also maintain a pragmatic outlook.
Ms. Cibils acknowledges that “growing pains” exist for foreign investors, including bureaucratic hurdles that can delay the adaptation of local contracts to standardized international agreements.
Nevertheless, she remains firm in her conviction that “if you put innovation at its core and leverage all the benefits that the country has I think Paraguay can be a superpower”.
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