- The data affirms that the province has experienced notable growth in infrastructure and financing.
- The importance of the Agtech & New Food, AI, Big Data & Analytics, and Cleantech & Biotech sectors was emphasized, due to their talent density, support resources and startup activity.
- Additionally, it is in the Top 10 in Latin America in terms of the ability to hire technological talent and Top 15 in early stage financing and investor activity.
Córdoba was recognized in the recent Global Startup Ecosystem Report 2024 (GSER) presented at London Tech Week, standing out for its notable expansion and development. The GSER, developed by Startup Genome and the Global Entrepreneurship Network, offers a comprehensive analysis of more than 4.5 million companies in 300 entrepreneurial ecosystems around the world.
The Córdoba Innovar y Emprender Agency and Startup Genome have collaborated to bring Córdoba’s ecosystem to the fore at GSER2024. The report highlights that the province’s ecosystem generated $321 million in Ecosystem Value between July 1, 2021 and December 31, 2023, which represents a compound annual growth of 287% compared to the period from July 1 from 2019 to December 31, 2021. This Ecosystem Value is calculated based on startup exits and valuations.
Regarding this, Manuel Ron, president of the Córdoba Innovar y Emprender Agency, expressed: “Córdoba embraces sustainable innovation and emerging technological challenges. The ecosystem must be able to respond to these challenges, and the Agency contributes to this objective by improving the flow of startup deals, boosting institutional capabilities and fostering science-industry connections to meet new global paradigms.”
Outstanding achievements of the province in Latin America
The report positions Córdoba among the leaders in Latin America in various categories:
- Top 10 in Affordable Talent: Ability to hire technology talent.
- Top 15 in Financing: Innovation through early stage financing and investor activity.
- Top 20 in Knowledge: Innovation through research and patent activity.
- Top 20 in Performance: Size and performance of the ecosystem based on the accumulated value of technology startups created from exits and financing.
- Top 20 in Talent and Experience: Long-term trends in the most significant performance factors.
- Top 20 in Cost-Benefit Ratio: Amount of time that technology startups acquire, on average, from a VC round.
The Agtech & New Food, AI, Big Data & Analytics, and Cleantech & Biotech sectors are particularly notable for their talent density, support resources, and startup activity.
Impact of the GSER Report
The Global Startup Ecosystem Report, produced by a consortium of representatives from more than 40 countries, analyzes the current state of startup activity and related investment. Provides ideas and guidance to public and private leaders on how to foster thriving startup communities, viewing them as the primary driver of job creation and economic growth.
Contributions from key opinion leaders and local stakeholders further enrich the report’s findings, the product of more than a decade of independent research and policy work by Startup Genome.
Growth and dynamism in the Ecosystem
The report indicates that Córdoba has experienced notable growth in infrastructure and financing. The number of incubators has exceeded 20 and venture capital institutions have reached eight, tripling their presence in the last six years. In the same period, investment in startups in the Series A stage increased by 167%.
Furthermore, the venture capital industry in the province showed significant dynamism, with a 474% increase in the total amount raised by startups since 2016/2017, reaching $51.3 million in 2022/2023.
Marc Penzel, founder and president of Startup Genome, highlighted: «Startup Genome has the privilege of collaborating with the Córdoba Innovar y Emprender Agency to promote economic growth based on entrepreneurship in Córdoba. “We leverage a rigorous, data-driven approach to highlight the potential of this dynamic ecosystem and support the journey of its entrepreneurs.”
For more details, you can access the full report at the following link: https://startupgenome.com/gser2024
Collaboration and support
Created in 2016, the Córdoba Innovar y Emprender Agency is a public-private actor that supports the province’s innovation and entrepreneurship ecosystem through public support programs in conjunction with the private sector. Since its creation, it has developed more than 28 initiatives that have impacted more than 1,300 startups and has involved more than 134 private investors.
For its part, Startup Genome is the world’s leading organization in the development of innovation ecosystems, working with more than 160 ministries and agencies in more than 55 countries to catalyze the success of startups and the growth of the global ecosystem.
