Date

26 de June 2020

Bogota’s startup ecosystem, ranked as second best in Latin America

Entreprenurship(645)
Entrepreneaurship ecosystem
ranking

The most recent edition of the report Global Startup Ecosystem Report (GSER) highlights financing alternatives and market access as two of the greatest strengths of Bogotá's entrepreneurial ecosystem, which outperforms cities such as Santiago de Chile and Buenos Aires.

Entreprenurship

Bogota's position as one of the most important entrepreneurial ecosystems in Latin America has recently been ratified by the Global Startup Ecosystem Report (GSER), considered the world's most comprehensive and consulted report on startups, measuring 250 ecosystems and carrying out also a classification of the 100 most important emerging ecosystems.

Bogota appears as the second city in Latin America in the ranking of emerging entrepreneurial ecosystems, a list that is led by Mumbai (India), Jakarta (Indonesia) and Zurich (Switzerland). The ranking in which the Colombian capital is included, measures aspects such as human talent, ecosystem performance, financing options and access to markets.

Bogota achieves a rating of 9 out of 10 in the market access section, a figure that places the capital leveled with cities such as Madrid (Spain), Bristol (United Kingdom) and Portland (United States). In terms of financing, Bogota received a rating of 7 out of 10, while in performance of the ecosystem the city's score was 6 out of 10. Talent, with a 4 out of 10, appears as the section with the lowest rating.

A recent report by Invest in Bogota, liaison of the city's entrepreneurial ecosystem, highlights that the capital has 16 incubators, 13 accelerators, nearly 40 co-working spaces and more than 10 matchmaking platforms.

In terms of the corporate offer to finance entrepreneurship projects in Bogota, the study from Invest in Bogota showed that there are at least 28 venture investment funds and banks, 11 corporate ventures, and 5 networks of angel investors who actively participate within the processes of growth and dynamism of the enterprises.

According to the GSER, emerging entrepreneurial ecosystems already have a market value of 348,000 million dollars, with which "startups have become a growth engine of the economy,".


The role of startups in a post-crisis scenario

The GSER also makes a detailed analysis of the impact that the crisis generated by Covid-19 is having on entrepreneurship around the world. According to the report, startups face problems such as a shortage of capital, as well as a reduction in demand due to the quarantines applied in many of the markets in which they operate.

However, according to the publication, as long as these enterprises have government aid that allows them to stay alive during the current crisis, these companies will be decisive for the economic recovery of the country through the generation of employment, the transfer of knowledge and attraction of foreign investment.