Home » TRAVEL NEWS » Bogotá Seeks Investment Opportunities in Miami’s Entrepreneurial Scene During Tech Month Festivities Friday, April 19, 2024
Favorite
![Globe-General-1 - Travel And Tour World](https://www.travelandtourworld.com/wp-content/uploads/2024/03/Globe-General-1-850x485.jpg)
In honor of Miami Tech Month, Miami is bustling with a myriad of events, drawing venture capitalists, entrepreneurs, and tech trailblazers worldwide. Throughout the week, the city played host to Startup OLÉ, a prominent European tech-startup ecosystem event; VC Latam Summit, uniting key investors and venture capital firms from Latin America; and eMerge Americas, a premier annual two-day tech conference boasting over 20,000 attendees.
Since the onset of the pandemic, numerous US investors have made the move to Miami, propelling it into a pivotal nexus connecting Latin American and US investors. This dynamic shift cultivates the exploration of growth opportunities within startups and innovative ventures, leveraging Miami’s proficient bilingual workforce and dynamic culture of innovation.
Bogotá, the capital of Colombia, stands as a focal point for entrepreneurship. It’s swiftly emerging as a top destination for venture capital investment, ranking third in Latin America for venture investment activity, following Sao Paulo and Mexico City. The city’s entrepreneurial landscape is in a constant state of growth, earning recognition as the third Emerging Tech Ecosystem by Dealroom and the third most prominent entrepreneurial ecosystem in Latin America by StartupBlink.
Colombia boasts over 1,300 startups experiencing rapid expansion. This growth is fueled by increased internet and technology accessibility, robust support from leading accelerators such as Techstars and Y Combinator, interest from global investment funds, and a burgeoning entrepreneurial ethos.
“Colombia shines with resilient entrepreneurs and increasing venture capital investments, establishing itself as a highly competitive regional entrepreneurship ecosystem. In 2023, Colombian entrepreneurs raised approximately USD 647 million through various mechanisms such as venture capital funds, angel investors, accelerators, family offices, and corporations,” noted Isabella Muñoz, Executive Director of Invest in Bogota.” The Corporation plays a pivotal role in promoting the city during this significant week for startups in Miami.
The city spearheads Colombia’s venture capital ecosystem, boasting the highest number of financing rounds (88 rounds) and capital raised in the nation, comprising 75% of the total national investment, totaling USD 486 million, as per Invest in Bogota’s 2023 report.
US venture capital firms have shown significant interest in investing in Colombian startups, particularly those rooted in Bogota. In a landmark move in 2019, Softbank made history with a USD 1 billion investment in Rappi, marking the largest single investment in a Latin American tech startup. Noteworthy investors also include Tiger Global Management, Quona Capital, 8VC, and others.