Colombia’s startup ecosystem has been making waves in recent years, positioning itself as one of the top-performing ecosystems in Latin America. With a dynamic and diverse market, a talented and ambitious workforce, and a government actively promoting innovation and entrepreneurship, the Colombian startup ecosystem is poised for even greater success in the years to come.

New Horizons for Startups…

Colombia has a supportive startup business environment, empowered by both public and private sector ecosystem stakeholders. It is possible to find both city-specific and country-specific initiatives in Colombia.

Colombia’s success stories

A unicorn is a privately held company valued at over US$1 billion. Colombia is the home of Rappi, a delivery and on-demand services company founded in Colombia and headquartered in Bogotá. Backed by global investors (including SoftBank), Rappi expanded across Latin America and became Colombia’s first unicorn. Several differentiators that contribute to Rappi’s success include allowing customers to order almost anything with rapid delivery. Another advantage is that much of the Latin American region shares the same language and Colombia is centrally located, so building and expanding a business in the region is easier for Colombian startups.

LifeMiles is a world-class loyalty program and another company valued at over US$1 billion in Colombia. Moreover, the country has several other startups that are paving the way toward unicorn status, such as La Haus, Habi, and ADDI.

A Fintech Hub

Colombia follows a proactive approach toward fintech regulation and was among the first in LATAM to offer a regulatory sandbox, allowing startups to experiment under controlled, flexible conditions. Key elements include the framework for SEDPE (Specialized Companies in Electronic Deposits and Payments) created to promote financial inclusion and digital payments, along with streamlined licensing paths that have eased market entry for fintechs in recent years.

Furthermore, Colombia Fintech is an industry trade body comprising a large community of innovation companies (primarily fintechs, plus firms that integrate the fintech value chain through consulting, market research, and traditional finance/tech services). The organization plays a significant role in Colombia’s fintech scene by organizing events and releasing publications.

A blooming R&D

R&D remains an asset for Colombia. Patent activity and broader IP outputs have improved compared to earlier years, and the government continues supporting innovative environments with Digital Transformation Centers and tax incentives. Colombia also hosts the Centre for the Fourth Industrial Revolution (C4IR) in Medellín, which enables government and businesses to test emerging technology policies—creating an environment where startups can grow.

Colombia’s Talent

A successful startup ecosystem requires strong talent. Colombia is home to multiple universities that consistently appear in top global and regional rankings, and the country has a steadily growing software developer pool. As a country offering a Digital Nomad Visa, Colombia is also an attractive location for remote talent to get involved in the startup scene.

Universities

Universities are the source of talent, research, innovation, and mentorship in a startup ecosystem. In Colombia, there are strong cases of cooperation between universities and other ecosystem stakeholders. Two primary examples are EAFIT University and CESA, both of which play significant roles in the country’s startup ecosystem thanks to their focus on entrepreneurship and innovation with an emphasis on social responsibility and sustainability. Another example is Ongoing, which seeks to be the home of impact entrepreneurship—organizations that positively affect their communities, generate employment, and pursue a higher purpose beyond creating a business.

Coworking Spaces

Circular Coworking is a coworking space based in Medellín. In addition to coworking facilities, they offer custom offices, consultancy services, and events & communities to grow your network. Insight Coworking is a modern space in Cali. It offers a wide range of options, including private offices, floating posts, a bean bag area, a negotiation table, and meeting rooms. HubBog offers coworking, an acceleration program for startups in LATAM, and investment for portfolio companies. The space also hosts conferences and events that contribute to Bogotá’s ecosystem.

Accelerators/Incubators

ScaleUp LatAm – Medellín ScaleUp LatAm helps high-performing Latin American startups expand internationally. It operates as a network of advanced acceleration platforms, offering programs in Boston, Colombia, and Mexico, with plans to expand further in the region.

Vertical Labs LATAM – Medellín Vertical Labs LATAM incubates and accelerates technology-based startups through mentoring, access to networks, and connections to smart capital.

Upview Ventures – Bogotá Upview Ventures accelerates Colombian startups with expert mentors and guest tutors on financial, commercial, legal, business development, and marketing topics. Its 12-week program helps companies build networks of contacts, allies, and investors, and provides office space in an open, creative environment.

EF Ventures – Bogotá EF Venture Capital offers office and event space, consulting services, entrepreneurship guidance, and investment opportunities for companies in technology and software development, digital marketing, innovation, and human resources. The organization also runs community initiatives and mentorship programs in partnership with public entities.

Tecnopark Bogotá – Bogotá node Tecnopark is a technological innovation program of SENA aimed at all Colombians free of charge, acting as an accelerator for R&D+i projects and supporting functional prototypes through a specialized multidisciplinary team.

Founder Institute – National Founder Institute runs highly structured acceleration programs that provide guidance and a global network to help founders turn ideas into bankable startups and scale globally.

Suricata Labs – Bucaramanga Suricata Labs guides companies and entrepreneurs in business models, corporate and marketing strategies, and supports institutions that back entrepreneurship—promoting the creation of innovative, tech-driven businesses.

Support Organizations

Alongside coworking spaces, accelerators, and incubators, several private and public organizations in Colombia contribute to developing the startup ecosystem:

• KPMG provides consulting, audit, tax, and legal services and supports corporate innovation and technology transformations.
• Ruta N Medellín aims to enhance quality of life through science, technology, and innovation—attracting talent and investment, fostering entrepreneurship, and hosting the Latin American Center for the Fourth Industrial Revolution.
• Cámara de Comercio de Bogotá is a private, non-profit organization that promotes entrepreneurship and supports the business community in Bogotá, focusing on regional economic development.
• Cámara de Comercio de Cartagena runs acceleration and scaling programs to support entrepreneurs (e.g., impact-oriented challenges) and partners with Endeavor Colombia on regional ScaleUp initiatives.
• iNNpulsa is a public organization affiliated with the Ministry of Commerce, Industry, and Tourism. Its mission is to lead and integrate the national strategy for economic development through entrepreneurship and innovation—strengthening MSMEs and advancing reindustrialization while closing social and territorial gaps.
• Cámara de Comercio de Cali supports and guides business owners to expand and succeed in global markets and serves as the official registrar of companies in Cali and nearby municipalities.
• ACI Medellín builds international partnerships to attract foreign investment to the city and promotes Medellín as a technology and innovation hub.
• CEmprende connects academia, private businesses, the government, and the public to create collaboration opportunities in entrepreneurship and innovation as a national initiative.
• Bancóldex is Colombia’s development bank, supporting entrepreneurship and trade with financing schemes and dedicated lines for innovative and high-impact sectors.
• Ministerio TIC (Ministry of Information Technologies and Communications) runs recurring programs that provide digital skills training for entrepreneurs and youth, alongside initiatives that support the creation and growth of tech businesses.

Colombia is also home to numerous associations, such as:

• Colombia Fintech, the national association of fintech companies, working to expand access to digital financial services, develop top fintech talent, and position Colombia as a leading fintech investment destination in LATAM.
• Colombia Proptech, a trade association promoting the development of proptech in Colombia and consolidating this ecosystem in Latin America.
• AgStar, a major agri-foodtech entrepreneurship platform that convenes public entities, private companies, financial institutions, accelerators, investors, universities, and media to strengthen the sector.
• HealthTech Colombia, a grassroots community that brings together stakeholders from the digital health ecosystem—especially tech entrepreneurs—working to transform healthcare with technology and innovative processes.

Main Strengths of the Colombia Startup Ecosystem

Strengths and good practices of the Colombian ecosystem. To explain Colombia’s strong performance, here are the aspects in which the ecosystem is excelling:

Companies in Y Combinator: Dozens of Colombian companies from multiple cities have entered Y Combinator, the world’s most influential accelerator (alumni include Airbnb, Coinbase, and Dropbox). Beyond capital, YC alumni benefit from mentoring and operator networks. This knowledge and talent then recycle into the local ecosystem—seen most clearly in the “Rappi Mafia,” the informal name for the growing network of startups founded by former Rappi employees (e.g., Frubana, Melonn, Laika) with spillover across Latin America.

Support network for startups: Startups and investors in Colombia benefit from a deep support network that facilitates company creation and expansion. This support comes from both private and public sectors and exists at national, departmental, and city levels. The more collaboration and synergy achieved between these actors, the more likely the ecosystem will meet its growth objectives—so long as their role is to enable, not add bureaucracy or pick winners (the market does that).

Universities: Universities are indispensable for startup ecosystems. Beyond transmitting knowledge, they provide contact networks, research partnerships, and mentorship that magnify founders’ ability to build. Colombia’s leading universities continue to supply technical and business talent that feeds directly into startups.