Bogota, recognized as the second emerging entrepreneurship ecosystem in Latam

BOGOTA, Colombia - Sept. 29, 2021 - PRLog -- The most recent edition of the Global Startup Ecosystem Report (GSER), publication of the international platform Startup Genome, included Bogota in the list of the 100 most important emerging entrepreneurship ecosystems in the world, a ranking in which the Colombian capital ranks as the second city in Latin America.

Bogotá's position in the ranking, which is led by Mumbai (India), Copenhagen (Denmark) and Jakarta (Indonesia), is supported by aspects such as financing options and market access, factors in which the city receives a rating of 8 out of 10. In addition, in terms of ecosystem performance, the city has a score of 6 out of 10.

Entrepreneurship hub in Latin America

In addition to being included in the ranking of emerging entrepreneurship ecosystems, Bogota was one of the four Latin American cities to which the report dedicated an in-depth analysis. This document highlights that, thanks to a series of government reforms and the energy of its vibrant young population, Bogota is consolidating its position as a major startup hub in Latin America.

The Bogota chapter in the GSER, which was built from information provided by ecosystem actors such as iNNpulsa Colombia, the District Secretariat for Economic Development and Invest in Bogota, highlights the importance of measures such as the Entrepreneurship Law implemented by the National Government, aimed at streamlining the business creation process and supporting growing startups.

According to the document, the Bogota entrepreneurship ecosystem is valued at 4.7 billion dollars. Regarding capital raising, the report highlights that the average of venture capital operations in seed rounds is 300 thousand dollars, while for Series A the average value is 3.9 million dollars per transaction.

"The dynamism that the city's entrepreneurship and innovation ecosystem is showing is leading more international investors to set their sights on startups based in the capital," said the acting executive director of Invest in Bogota, Mauricio Romero, who recalled that only in the first half of 2021 local enterprises closed capital raising operations for more than 364 million dollars.

The report also points out that among the reasons why businesses should "move" to Bogota are the reforms carried out in the country to promote the Orange Economy, as well as tax incentives for companies that generate intellectual property and young people. talented workforce that the Colombian capital has.

Finally, the report dedicated to Bogota points to the Fintech, Electronic Commerce and Proptech subsectors as the ones with the greatest strength within the capital's entrepreneurship and innovation ecosystem.

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Miguel Hernandez
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