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Argentinian software company sets up in Bogota with an initial investment of almost US 2 million

March 27, 2017

In February this year, Argentinian software development company Belatrix began its operations in Bogota, from where it will serve customers in the US, Canada and the UK, as well as the local market. Company executives calculate an initial investment of approximately US 2 million over the first 3 years.

Belatrix Software offers the creation, development and quality control of tailor-made products for customers who need to improve their innovation capabilities, while accessing global talent markets. Its customers are mainly from the financial, banking, insurance, retail, health services and e-learning sectors. Big-name clients include Adobe, Disney, AOL, FIS and The Broad Institute.

Fernando González Aguirre, Marketing VP of Belatrix Software, explains: "Our company has an ambitious expansion plan for the coming years, aimed at achieving 1,200 employees globally. At the close of 2016 we had 500 employees, distributed among its development offices as follows: Mendoza, 210 employees; Lima, 215; and Buenos Aires, 65. This growth will be in markets where we operate, so we plan to grow aggressively and we foresee major growth in Bogota."

Investment decision

Belatrix’s research into its investment destination was accompanied by promotion agencies ProColombia and Invest in Bogota. "The competitive advantages that we found in Bogota and Colombia are its strategic location, excellent quality and quantity of human resources for the IT sector, cultural similarity, the ease of doing business, institutional support, and proximity to our main market (United States)," González explains.

"Setting up in Bogota was a strategic move, because being here gives us the opportunity to establish ourselves regionally as a leading supplier of the IT industry; and also because we are betting on developing business in the financial sector, a sector in which Bogota has very powerful players. In turn, the Colombian market is constantly expanding and growing, which makes it attractive for doing business," - he continues - "Depending on how our business evolves here, we’ll consider opening more development centers in other cities in the future."

Felipe Jaramillo, President of ProColombia says: "Belatrix’s investment in Colombia confirms the country’s attraction for the software and IT services sector thanks to its strategic location, investor protection and the sustained growth of its indicators, among other factors. The office of the Vice President of ProColombia has identified the interest of more companies from markets such as the US, Argentina, Brazil, Chile and Central America to settle in Colombia.

Bogota and cities such as Medellín, Cali, Bucaramanga and Barranquilla enjoy conditions that are ideal for companies in this sector, as well as the tax incentives and excellent training of Colombian professionals."

Juan Gabriel Pérez, CEO of Invest in Bogota, is happy about the arrival of Belatrix: "Bogota is betting heavily on attracting technology and innovation sector companies because they generate quality employment and the transfer of knowledge, technology and best practices. The country's capital has an industry established with extensive experience both in developing custom software and in developing systems for industry, with the presence of world-class companies."