Colombia Startup Overview

I can’t believe we’ve already arrived in the last country of my Startup Nomad journey for 2013! It’s insane how quickly the year blew by. I’m now thinking about where to go for 2014, so please leave your suggestions below!

Colombia is an amazing country and the entrepreneurial spirit has certainly permeated. Colombia is actually the only country along my Latin American tour where I conducted a solid number of interviews in more than one city and spent considerable time outside of the capital. The federal government of Colombia has created initiatives to encourage entrepreneurship, as have a number of local governments, and the decline in violent crime and overall improvement in safety and the economy has created quite the boom in the country. I spent time in both Medellín and Bogotá and absolutely fell in love with both.

My time in Colombia was chocked full of interviews and events and I’m going to leave it to the locals to explain what’s going on in Colombia through the interviews you’ll see over the next few weeks. Nothing I can say would do it justice, so I won’t try, though you can check out a couple of graphs below that I pulled from the GEM data visualization tool to get an idea of how the entrepreneurial activity there compares with the U.S.

Total Early-Stage Entrepreneurial Activity (TEA) Colombia vs USA
Percentage of 18-64 population who are either a nascent entrepreneur or owner-manager of a new business
New Business Ownership Rate Colombia vs USA
Percentage of 18-64 population who are currently a owner-manager of a new business, i.e., owning and managing a running business that has paid salaries, wages, or any other payments to the owners for more than three months, but not more than 42 months

See you next week as we jump into interviews in Colombia!

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