Stimulating Colombian entrepreneurship with international best practices.

Entrepreneurship in Colombia is seen as an economic development driver. However, access to financing, training, networking and other common characteristics of a thriving ecosystem are still either missing or in initial stages. The entrepreneurship and innovation ecosystem is beginning to take shape across the country, specially in Bogota, but it is still far from its US and European counterparts – especially when it comes to growing out of the home country. Having access to international best practices, knowledge and successful experiences could provide an important boost to accelerate and optimise its development.

Partnering public and private sectors to deliver digital transformation.

In accomplishing ProBogota’s mandate of contributing to transforming Bogota into a better place to live, work and invest, economic and social development is a key strategic focus. We truly believe that an effective way to boost job creation and income generation is through promoting entrepreneurship and strengthening SMEs in specific sectors already defined as a strategic focus for the city and the region.

Establishing Bogota ICT Incubator & Accelerator (BICTIA), dedicated to strengthen and provide support along its value chain, to ICT start-ups and SMEs mainly focused on the B2B market; building capabilities to deliver affordable and pertinent high impact ICT products and services to SMEs on the five specialization areas defined by Bogota’s Smart Specialization Strategy. 

IDN’s role in the project is to assist ProBogota in Project Management including monitoring and reporting. Further, we will assist startups in improving their place in the ICT Value Chain and target business opportunities in other sectors.

An incubator and accelerator to converge technology, new businesses and venture capital for a new digital economy.

BICTIA’s portfolio has been structured over three main intervention axis:

• Knowledge & capabilities building, in order to strengthen ICT start-ups and existing SMEs to deliver affordable and pertinent high impact ICT products and services for SMEs.
• Matchmaking understood as providing scenarios, platforms, and opportunities to conduct strategic goal-oriented networking covering financing, market access and other specific resources needed.
• Funding, through the structuring and operation of a financing vehicle (structure and terms to be defined during project execution) able to provide seed capital to specific promising entrepreneurs identified as high potentials.

The project has received USD1.9 million to support 300 startups and entrepreneurs, train 600 people with digital skills and to invest seed capital into 25 innovating businesses from the region.