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Latin America and the Caribbean have a long-standing tradition in brain research characterized by unique regional features. However, the region faces significant hurdles in maintaining pace with the rapid global advances in Brain Sciences observed over the last few decades. The Latin America Brain Initiative (LATBrain) was established to integrate regional efforts and catalyze the interdisciplinary development of Brain Sciences. To support this mission, LATBrain conducted the first survey to assess the perceptions of researchers, students, and professionals regarding opportunities and systemic barriers in the field across Latin America and the Caribbean. Respondents identified notable strengths, including high academic achievement, creativity, and a robust capacity for collaboration. Conversely, critical concerns centered on the need for sustained funding, access to state-of-the-art technology, and specialized interdisciplinary training. Public interest was perceived to be primarily aligned with applied societal issues, such as neurodegenerative disorders and mental health. Furthermore, the survey highlighted how insufficient funding compromises infrastructure sustainability and the retention of promissory and top-tier researchers. Our findings underscore a critical need to refocus training to be more socially relevant and academically interdisciplinary. LATBrain is actively collaborating with partners across Latin America and the Caribbean to overcome these limitations by strengthening scientific integration and interdisciplinarity, promoting resource sharing, and advocating for the socio-economic importance of brain research. This strategic plan seeks to solidify the region's position as a global leader in brain research.