October 09, 2017
South Summit is the most important entrepreneurship and innovation summit in southern Europe, it is taking place this week in Madrid, and from November 30th to December 1st, Bogota will host the first edition of the event in Latin America.
This week, the fifth edition of the South Summit will take place in Madrid, where startups with a high degree of scalability, investors, large corporations and business angels will participate among other key actors in the entrepreneurial ecosystem of Europe and Latin America. The event seeks to build bridges between the different agents, and generate business opportunities to develop high impact projects with a global reach.
"We are pleased to be this week at the South Summit Madrid to present the Pacific Alliance as a strategic block to attract foreign investment and open up business opportunities among corporations, investors and startups with potential for internationalization. Colombia and the region will receive this same meeting for the first time in November in the framework of Heroes Fest, the country's most important innovation and entrepreneurship festival organized by the Ministry of Industry, Trade and Tourism and iNNpulsa, "said Juan Carlos Garavito, general manager of iNNpulsa Colombia, an entity attached to the MinCIT, promoter of the South Summit Pacific Alliance, the version of the summit to be held in Bogota.
Thanks to the success it has had in Spain, the potential that “Spain Statrup” found in Latin America and the strategic alliance with iNNpulsa Colombia and the support of Invest in Bogota, they decided to launch the first edition of the event in the continent with Bogota as its headquarters, gathering Mexico, Peru, Chile and Colombia; the member countries of the Pacific Alliance. The aim is to replicate the Spanish experience in order to strengthen the entrepreneurship and innovation ecosystem in the region and strengthen ties with European actors, thus fostering new business opportunities. It is expected to be a point of contact between Latin American startups and European Venture Capital funds.
"South Summit Pacific Alliance will connect with Europe the efforts of the Pacific Alliance to foster the growth of the ecosystems of innovation and entrepreneurship of this union of countries between Mexico, Chile, Peru and Colombia, representing the eighth world economy with about 225 million inhabitants", adds Garavito.
In the Latin American edition, which will be held on November 30th and December 1st, will participate the 40 startups with the largest projection in the region, major investors worldwide and corporations seeking to expand into new markets which are found in the Pacific Alliance favorable environment. This event, in addition to strengthening the ecosystem of entrepreneurship in the region and attracting new actors, seeks to position Bogota as a hub of startups.
"Entrepreneurship projects have been fundamental in the development of Bogota, and investment funds have played a crucial role in their financing. South Summit is an exceptional showcase for initiatives with great potential to gain visibility and capture the funding needed to bring the projects to fruition in an investment-friendly environment such as Bogota, "said Juan Gabriel Perez, executive director of investment promotion agency of Bogota, Invest in Bogota.
In recent years, Bogota has been consolidated as the capital of entrepreneurship in Colombia, with 1,356 startups by 2016, accounting for 50.2% of the country's total enterprises. For the city, the attraction of foreign capital funds that drive these projects in its early stages is a priority, as this investment is fundamental for its maturation and the Private Capital Funds in the country are still in a development stage. South Summit Pacific Alliance will serve as an exhibition showcase for Bogota startups in which entrepreneurs can look for funding alternatives.
About Invest in Bogota: Invest in Bogota is the private-public agency that, based on an international positioning strategy, actively promotes foreign investment in the city to generate business opportunities, progress, social and economic development for Bogota and Colombian people. Throughout 11 years of management, it has been cataloged by different institutions such as the World Bank (2009) and Site Selection Magazine (2015, 2016, 2017) as the best investment promotion agency in Latin America and the Caribbean. Invest in Bogota is the result of an initiative between the Bogota Chamber of Commerce and the Mayor's Office.