Córdoba was recognized in the Global Ecosystem Report of Startups 2024 (GSER), presented at London Tech Week; which stands out for its expansion and development.
The GSER, developed by Startup Genome (the world’s leading organization in the development of innovation ecosystems) 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 collaborated to bring Córdoba’s ecosystem to the fore at GSER2024.
He report highlights that the province’s ecosystem generated $321 million in value between July 1, 2021 and December 31, 2023, which represents a compound annual growth of 287% compared to the period from July 1, 2019 to December 31, 2021. This ecosystem value is calculated based on the outputs and valuations of startups.
Manuel Ron, president of the Córdoba Innovar y Emprender Agency, said: “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 startupsboost institutional capacities and foster science-industry connections to comply with the new global paradigms.”
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 technological 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 on the most significant performance factors.
- Top 20 in Cost-Benefit Ratio: amount of time that tech 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 manufacturing activity. startups.
Impact of the GSER Report
The Global Startup Ecosystem Report, prepared by a consortium of representatives from more than 40 countries, analyzes the current state of startup activity. startups and related investment. Provides ideas and guidance to public and private leaders on how to foster communities of startups prosperous, considering them as the main engine 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 experienced notable growth in infrastructure and financing. The number of incubators exceeded 20 and venture capital institutions reached eight, tripling their presence in the last six years. In the same period, investment in startups in the Series A stage it 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.”
