Map of Entrepreneurship in Bogotá, Colombia

Oct 21, 2020 · 3 mins read
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An analysis carried out by Invest in Bogota based on surveys with local startups highlights the age ranges in which the city’s entrepreneurs are located, as well as the economic sectors in which most of the ventures are concentrated or the willingness of companies to receive resources to leverage their growth.

Through a survey in which 248 startups participated, Invest in Bogota, the articulator of the entrepreneurship and innovation ecosystem of the capital city, made the first characterization of entrepreneurship in Bogota Region.

What are the main characteristics of entrepreneurship in Bogotá?

The document shows some of the main characteristics of entrepreneurship in the city, including the age ranges in which the entrepreneurs are located, the percentage of startups that have had access to education programs in entrepreneurship, the participation of women on the boards of directors of these companies, and profiles of indebtedness and access to capital, among others.

“This characterization will allow us to identify the needs of the city’s entrepreneurs, in order to connect them with the programs of the public sector and the private companies that can promote them and accompany their processes of consolidation, acceleration and capital raising,” highlighted Juan Gabriel Pérez, executive director of Invest in Bogota.

For her part, Carolina Durán, district secretary of economic development, highlighted the importance of these exercises that allow the city to identify the type of entrepreneurship that is being generated, the one that the city needs, the one that requires more support to generate more impact and even those entrepreneurships that are born from the local with a global vocation and that are attractive to international investors.

How old are the entrepreneurs in Bogotá Region?

The survey shows that the highest concentration of entrepreneurs is in the age range between 33 and 42 years, with 37.5%, followed by the age range between 28 and 32 years with 17.34%, and then between 23 and 27 years with 10.89%. The remaining percentage is in the age range above 43 years.

In addition, the majority of those surveyed said they had received entrepreneurship-related education (83.1%), especially through entities such as the Bogotá Chamber of Commerce,, and the Ministry of ICT, in addition to accelerators, courses, seminars, and/or private diplomas.

When analyzing the economic sectors in which entrepreneurship is concentrated in Bogotá Region, the survey identifies that Information Technology (IT) services are at the top with 23.7%, followed by business and consulting services with 18.5%, creative industries with 8.8%, manufacturing industries with 7.6%, and commerce with 6%. The remaining percentages are in sectors related to processed foods, administrative and support services activities, transportation services, health, entertainment and tourism.
High impact entrepreneurship with female participation

44.4% of the entrepreneurs surveyed rate their companies as high-impact or scalable. The average sales of the businesses included in this segment are in the range of 840 to 1.6 billion pesos. In addition, in terms of female participation, more than 70% of the businesses surveyed have at least one woman on their Board of Directors.

“Although this percentage is positive, our interest and commitment is to see more and more women founders or leaders of these enterprises that are the ones that trigger the changes of the future,” concluded Secretary Durán.

Regarding the access to capital, more than 80% of the analyzed entrepreneurship has not received any kind of financing, while 58.4% states that they would receive a credit today under the current market terms.

The complete report “Characterization of the entrepreneurship of Bogotá Region”, can be accessed through this link.