I first visited in 2015 and haven’t stopped thinking about what I witnessed (Punta del Este was truly magical).

A small country of 3.5 million people, sandwiched between regional giants Brazil and Argentina, quietly building something extraordinary.
Uruguay made a different choice:

Patient, intentional progress toward a digital future.

The results speak for themselves.

– 98% fiber optic internet coverage.
– The highest democracy rankings in Latin America.
– Over 70% of government services digitized.
– No capital gains tax on startups.

But numbers are only part of the story. What struck me most was the mindset.

In Uruguay, young founders don’t dream of leaving for Silicon Valley. They dream of building the next dLocal – the fintech unicorn that IPO’d on Nasdaq at $9B valuation.

This represents something profound about the age of optionality.

Countries no longer compete primarily on natural resources or geographic advantages. They compete on the quality of their institutions, the predictability of their rules, and their ability to attract global talent.

Uruguay has mastered this formula.

Safe, open, relaxed and fiercely entrepreneurial.

Montevideo is emerging as a hub – where Latin American ambition meets European quality of life.

While other nations in the region changed course with each election cycle, Uruguay built trust as infrastructure. Stable institutions became their competitive moat.

For those who have traveled to many countries over the years, observing how nations have been evolving in the digital age. Uruguay stands out as one of the most thoughtful transformations.

The country isn’t chasing every trend. It’s making deliberate choices about what kind of nation it wants to become.

This July, we’re bringing the Draper Founders Program to Montevideo (July 14-24) to work with exceptional pre-seed startups.

Ten days of intensive mentorship ending with Demo Day, where top performers can win scholarships to Draper University and access to our Angel Club.

But this program is really about something bigger:

Recognizing Uruguay as an emerging hub in the global startup ecosystem.

In a world where talented people can build from anywhere, countries like Uruguay represent compelling additions to your portfolio of places.

The future belongs to nations that understand this new dynamic – that stability, trust, and digital infrastructure matter more than traditional metrics of power.

Uruguay might just be the most underrated country in this transformation.