Calling on all innovators! Help shape Colombia’s future with fresh ideas and pioneering innovation

With its abundance of natural resources, dynamic markets, and transparent institutions, Colombia’s economy offers great potential – and is ripe for innovation. So what better time to put your new ideas and business models to good use in Colombia?

Strong economic growth

Colombia is looking towards a bright future. The 2016 peace agreement with the guerilla movement FARC has led to further improvements in the domestic security situation. The country’s economy is expanding rapidly, its population is young and eager to spend money and its middle class is growing. The government recognises the importance of the private sector in the country’s development and has introduced corresponding incentives and guarantees. The free trade agreement with the European Union, which entered into force in 2013, has also contributed to further economic liberalisation.

Colombia as a location for business start-ups

One thing many companies in Colombia are still lacking, especially in these times of change and upheaval, is a supply of fresh ideas with an international focus. This lack creates a wealth of opportunities – especially for Colombians who have studied and worked abroad, established a valuable network of international contacts, and acquired foreign language skills – to fulfil their dreams with their own business models. ‘Business Ideas for Development’ wants to harness this huge potential. Some four million Colombians currently live outside Colombia and around 14,000 in Germany.

The best opportunities currently lie in Colombia’s construction industry, particularly in the field of infrastructure projects, as well as in the industrial and commodities sectors. There is also a great deal of potential for collaboration between Germany and Colombia on transnational business start-ups.