A U.S.-based digital community of entrepreneurs and investors has selected Uruguay as the location for its first physical settlement, marking a significant development for hiring talent in Uruguay's growing innovation ecosystem and the country's positioning as a destination for remote work and startup expansion.
Praxis selects Colonia del Sacramento for first physical hub
Praxis signed an initial agreement with +Colonia, an innovation city development near Colonia del Sacramento on the Río de la Plata. The startup, co-founded by CEO Dryden Brown, operates more than 150,000 members including entrepreneurs, investors, and creators who have functioned primarily as a digital-first community.
Praxis will acquire dedicated space within +Colonia and plans to begin purchasing land toward the end of 2027, with first residents expected by mid-2027. Brown said the decision followed a global evaluation tour. The company raised approximately $20 million from Apollo Projects, Sam Altman's investment vehicle, by 2023, and announced a commitment of up to $500 million in milestone-based financing from Gem Digital in 2024.
+Colonia spans approximately 515 hectares along eight kilometers of riverfront with a projected total investment of $1 billion, of which $290 million has been committed according to founder and CEO Eduardo Bastitta. The first phase covers roughly 350,000 square meters, about 20 percent of the total planned urbanization. Sales contracts with the Praxis community are scheduled to begin in the first half of 2027.
Bastitta, who co-founded Plaza Logística in 2009 (a developer operating over 400,000 square meters in the Buenos Aires metropolitan area), described Praxis's arrival as an opportunity to position Uruguay as an internationally recognized innovation hub.
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How 150,000 entrepreneurs reshape Uruguay's talent and innovation landscape
More than 2,700 Praxis members have expressed intent to relocate, and 30 startups have signed commitments to co-create the city. This concentration of globally distributed professionals carries workforce implications for companies operating in or expanding to emerging LATAM innovation hubs.
The Praxis model, combining digital community infrastructure with physical residency, creates a precedent for how professionals may organize work and living arrangements. Employers hiring remote or hybrid teams in Latin America will need to account for these alternative settlement patterns when designing compensation structures, benefits packages, and retention strategies.
+Colonia has secured institutional backing from Uruguay's National Research and Innovation Agency (ANNI), the Laboratory for Technological Analysis (LATU), and Germany's Fraunhofer IAO institute, connecting academic research, applied innovation, and private sector development. For employers evaluating workforce planning in the region, access to research institutions and innovation networks directly affects the availability of specialized technical skills and the speed at which companies can prototype and scale new products.
The urban design, created by Estudio Gómez Platero, follows a 15-minute city model with over 50 percent of the 515-hectare site designated for green and recreational spaces. The development includes high-speed connectivity, a data center, and site-wide WiFi, infrastructure requirements that remote-first companies prioritize when assessing operational viability in emerging markets.
GENTY's hiring talent in Uruguay's growing innovation ecosystem guide offers additional context for employers planning their next hires. GENTY's LATAM's emerging innovation hubs and talent markets guide offers additional context for employers planning their next hires.
Uruguay's positioning as LATAM's next innovation destination for remote work
Uruguay's selection by Praxis reflects how international investors and tech-focused communities assess Latin American markets. The country's stable regulatory environment, renewable energy matrix (97 percent), and geographic position between Buenos Aires and Montevideo create logistical advantages for companies managing distributed teams or establishing regional headquarters.
The +Colonia site sits 800 meters from the Port of Colonia del Sacramento and 500 meters from an international airport, with direct access to both Argentine and Uruguayan markets. For businesses evaluating supply chain resilience and talent mobility, these connectivity factors reduce operational friction and expand the addressable labor pool.
Multiple innovation hubs have established or expanded operations in Uruguay. The country also hosted a Private Capital Forum in October 2026, organized by ANNI, Uruguay XXI, and the Uruguayan Private Capital Association, bringing together global funds, institutional investors, and business leaders.
For HR and talent acquisition teams, the Praxis development offers a case study in how purpose-built communities may compete with traditional tech hubs for skilled workers. As wealth creation accelerates, professionals increasingly prioritize lifestyle factors, cultural alignment, and governance models alongside salary and career progression. Companies that understand these shifting preferences will be better positioned to attract and retain talent in competitive markets.
The timeline for Praxis Uruguay extends through 2027 for initial occupancy, with +Colonia projecting delivery of units in subsequent phases. Employers planning multi-year expansion strategies in Latin America should monitor how this development influences regional salary benchmarks, remote work policies, and competition for technical and entrepreneurial talent.