Barranquilla

Bogota

Medellin

Florida

Fredonia

Pasto

Envigado

Pereira

Monterrey

Valledupar

Cucuta

Necocli

Pelham

Manizales

Bucaramanga

Cartagena

Villavicencio

Palmira

Rionegro

Cuestecitas

Cali

Tulua

Neiva

Yumbo

Buga

Sevilla

Cartago

Buenaventura

Caicedonia

Floridablanca

Armenia

Garzón

Cota

Cundinamarca

Madrid

Popayán

Colombia

La Ceja

Ibagué

Mosquera

San Gil

San Pedro

Facatativá

La Estrella

Tumaco

Girón

Villamaría

Ginebra

Chía

Tenjo

Tunja

Soacha

Sopó

Apartadó

Itagüí

Cajicá

Mariquita

Funza

Florencia

Barrancabermeja

Ocaña

Sincelejo

San Andrés

Santa Marta

Sogamoso

Cáqueza

![concrete high rise buildings at daytime](https://images.unsplash.com/photo-1568632234180-0e6c08735d01?ixlib=rb-4.0.3&ixid=M3wxMjA3fDB8MHxzZWFyY2h8M3x8Ym9nb3RhfGVufDB8fDB8fHww&w=1000&q=80)
 Colombia’s startup ecosystems are experiencing significant growth and becoming a key driver of the country’s economy. Various initiatives at the national and municipal levels are supporting entrepreneurship, leading to the emergence of high-quality startups like Rappi, La Haus, Plazzi, and Ontop. The US$ 1 billion investment by Softbank in Rappi in 2019 highlighted the potential of Colombian startups in the region, while over 40 Colombian startups have been accepted into [Y Combinator](https://www.ycombinator.com/), solidifying Colombia as a leader in LATAM startup ecosystems. 

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 The success of Colombian startups can be attributed to the strong support systems from both the public and private sectors, along with accelerators, incubators, and events like [Go Fest (Bogotá)](https://www.ccb.org.co/business/business-sustainability-support/innovation/go-fest) and [Capital Summit (Cali)](https://www.ccc.org.co/capital-summit/) that facilitate networking and growth. The government's favorable investment climate, including various types of investment visas and initiatives to increase technological literacy in smaller cities, has also contributed to the growth of the ecosystem. 

 

 Colombia is actively working towards improving its business infrastructure, with initiatives like the National Digital Strategy for 2023-2026 aiming to tackle social, economic, and environmental challenges using digital technologies. The introduction of favorable policies, such as simplified financial licenses for financial institutions, has made Colombia an attractive hub for fintech. 

 

 The proactive approach of municipal chambers of commerce, such as the Bogota Chamber of Commerce, the Cali Chamber of Commerce, and the Barranquilla Chamber of Commerce, towards supporting startup ecosystems sets Colombia apart. Notable stakeholders like iNNpulsa Colombia, Manizales Más, Invest in Bogota, and Ruta-N are actively involved in developing the startup ecosystem. Additionally, KPMG Colombia plays a vital role in improving information flow by curating exclusive reports in partnership with these organizations. 

 
 While Bogota remains the leader in startup ecosystem maturity, cities like Medellin and Cali are emerging as innovative hubs attracting attention from expats and digital nomads. The presence of multiple cities with active startup ecosystems gives an international boost to Colombia's startup scene. With a proactive approach to ecosystem development and strong support from local Chambers of Commerce, Colombia's national startup ecosystem is poised to become a strategic center of innovation in Latin America.

Tyler Cowen is Holbert L. Harris Chair of Economics at George Mason University and serves as chairman and general director of the Mercatus Center at George Mason University.

Tyler Cowen

Fairfax

KPMG

ANDI

CALI

CESA

NEGRO EAFIT

INNPULSA

ONGOING FINAL

TOURISM

VIDA

Introduction of Colombia Digital Nomad Visa

2022

Approval of National Entrepreneurship Policy

2020

Launch of Digital Transformation Policy and Artificial Intelligence

13 November 2019

Rappi becomes the first company in Colombia to raise $US 1 Billion

30 April 2019

The Centre for the Fourth Industrial Revolution LATAM branch opens in Colombia.

29 April 2019

Launch of InnPulsa by Colombia Development Bank.

2012

Ruta N starts operations in Medellin to foster innovation in the city.

2009

Tyler Cowen Startup Leader | StartupBlink