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Although scarce in the literature of entrepreneurship, the Aztec and Mayas (as well as the Incas), two of the most important civilizations in ancient Latin America, are considered by us as entrepreneurs. This is our departing point for understanding where entrepreneurship was born and built in Latin America. Unfortunately, its indigenous communities still are far behind in terms of labor, quality of life, poverty, and economic opportunities. From the ethnic entrepreneurship theory and after a deep literature review, a model is proposed for our region, a starting point to analyze and understand its processes in our region, thus making an impact on the development of public policies that can ultimately alleviate and improve the condition of this communities, and by going back to its roots, give a clearer picture of the reasons behind the present and future condition of entrepreneurship in Latin America.

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