IDN has assisted LOGYSTO in developing an application for the NORAD Enterprise Development Program. In March the project was approved by NORAD and LOGYSTO will receive 50% of eligible costs covered by NORAD. IDN will also provide project management support during project execution.
LOGYSTO is a technology-enabled e-commerce logistics platform that is currently operating in major Colombian cities such as Bogotá, Medellin, and Cali. LOGYSTO’s business concept has tremendous potential to be a national full scale logistics solution for e-commerce, with possibilities of penetration in other Colombian secondary and tertiary markets such as Barranquilla, Bucaramanga, Pereira, and Manizales cities among others.
The goal for this project is to roll-out last-mile logistics solutions in smaller cities in Colombia. Therefore, it is necessary to carry out a feasibility study to analyse the market and business conditions necessary for the setup of LOGYSTO’s business in the most appropriate cities.
The expansion of LOGYSTO’s operations in the national territory plans to provide formal employment and/or extra income for a better livelihood to individuals of vulnerable areas of the country, where employment opportunities are much more limited. The jobs to be created will be mainly for delivery drivers that will transport the products of our customers (e-commerce companies) to the final consumer. Also, other indirect jobs will be created to cover additional positions needed for the operations in hubs and dark stores that will be closer to customers to provide more efficient logistic services in the new markets.
LOGYSTO has participated in the BICTIA Capital Tech program and BICTIA is a Seed Investor in LOGYSTO.