In line with Medellín’s goal of joining the top-three most entrepreneurial cities and becoming the capital of innovation in Latin America by 2023, a study about the entrepreneurial ecosystem of the city was carried out by the Medellín Mayor’s Office, the Créame Business Incubator, and the Entrepreneurial Development Program of Argentina – PRODEM.
High impact ventures grow quickly, sustainably, profitably, and can achieve a significant level of sales in a short time. In the last three years, the Medellín Mayor’s Office has accompanied about 119,000 people in their entrepreneurship ideas.
This research analyzed variables such as human capital, entrepreneurial education, culture, business structure, science, technology and information platform; also, the local demand, social capital, funding, local institutional support, local policies, and regulations, among other aspects.
“Medellín has a young entrepreneurship ecosystem which keeps moving on and has opportunities for improvement to take the leap towards a new and more dynamic stage,” said Hugo Kantis, Entrepreneurial Development Program of Argentina.
At the same time, opportunities for improvement arose from this research, such as the strengthening of education for entrepreneurship as a tool for the development of business ideas.
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