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Bogotá stands out in the Latin American startup ecosystem • ENTER.CO

The Global Startup Ecosystem Report (GSER) 2021 highlights Bogotá as one of the cities where innovation and startups have the greatest growth potential in Latin America.

Thanks to greater connectivity and government policies that are increasingly committed to innovation and digital entrepreneurship, Latin America is beginning to gain great importance in the startup ecosystem in the world.

According to a study by Atlantico VC, the capitalization ofthe technology market in Latin America has grown 65% of annual GDP compared to 11% in United States and 40% in China.

The Global Startup Ecosystem Report (GSER) 2021 compiled data from surveys of more than ten thousand startup executives from around the world. The study highlights how Latin American startups are achieving global prominence in industries such as Fintech, e-commerce and Real Estate.

Although Brazil continues to position itself as the giant of startups in the region, the study highlighted Bogotá, Mexico City, Santiago, Buenos Aires and Medellín as the most innovative cities and with a friendlier ecosystem for emerging technology companies.

Fintechs stand out as the fastest growing industry due to the possibilities of financial inclusion they offer in the region.

The report explains howhe last 5 years have been keys for the region, with dozens of new unicorns and unprecedented venture capital investment activity. For experts,he startups and scaleups will be the future of Latin America and will have scope as important as those of the technological companies of China and the United States.

Investment in late stage (Series B) in the region has grown 5 times in the last 5 years, there Bogotá stands out as the third city in the region with the highest investment in that stage. In addition, early-stage funding (seed and Series A) has doubled during this same time. The study also reported that the AI and Big Data They are the largest sectors that have received investment, collecting $248.5 million dollars between January 2018 and June 2020.

Regarding the Colombian capital, the report highlights that its startup ecosystem is valued at about $4.5 billion dollars. And it has managed to position itself as the second city with the highest collection, reaching $1.76 billion dollars. The fastest growing sectors have been fintech, e-commerce and proptech.

Thanks to the programs of local and national governments, Bogotá continues to gain prominence at the regional and world level. Technological entrepreneurs are getting investors to turn their eyes to the country and great results are expected in the coming years.

Photo by Santiago Boada from Pexels

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