Synthetic biology (SynBio) makes biology easier by leveraging engineering principles and other disciplines to design and construct biological systems with novel or enhanced functions. SynBio has led to the development of more sustainable biotechnological innovations that are in harmony with the environment, aiding the shift from a traditional to a bio-based economy. Mexico has made significant advancements in biotechnology in academia and industry, but progress in engineering biology has been different. Nevertheless, several initiatives, mainly supported by the participation of Mexican International Genetically Engineered Machine (iGEM) teams in the jamboree, have contributed to the interest of SynBio. This review provides a brief overview of the significant role of the iGEM competition and the current landscape of synthetic biology in Mexico, including educational and citizen science initiatives, as well as an overview of Synbio research and the industrial landscape. Additionally, a brief description of the current laws governing biotechnology in the country is provided. Finally, we highlight the challenges, opportunities and perspectives for the development of synthetic biology and the potential that Mexico has for a biologically based economy.