Medellin is the Colombian city that invests the most in Innovation

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Medellin is the Colombian city that invests the most in Innovation

medellin invests in innovation

Medellin is the Colombian city that invests the most in Innovation

Good news for the city! According to reports, that shows the advance of our city in this subject, Medellín will invests the 3% of the Gross Domestic Product in innovation and technology by 2021.

This turn Medellín into Colombian city that invest more of its GDP in innovation and technology.

In Colombia, the average investment is 0,6%. Although, the city of the eternal spring went from allocate in 2014 0,7% of the GDP to invest 2,1% in 2017.

To Alejandro Franco, Executive Director of Corporación Ruta N, “this number is the highest of any other Colombian city and is one of the highest in Latin America”. This is part of the agreements made in 2014 were more than 3.000 entities committed to make this investment in the private sector.

Did you know that Medellín has more than 15 years supporting entrepreneurs? Find more about it in our article about it.

GDP distribution by equals

The city is also ahead of other cities on the way these resources are invested. Now, the investment in technology, innovation and science will be distributed equally between public and privates investors; Previously, this distribution was designated to public sector in a 70%.

In this moment, 2919 companies of Medellín and Valle de Aburrá are part of this pact. The good news is that every coin invested in innovation in Medellín is valued 21 times, according to estimated.

The investment in innovation in Medellín will benefit the country

The investment in the area of innovation and technology turn Medellín in an attractive city for new investors. Also, increase the investment in science, technology and innovation could benefit the country by multiplying de GDP for 2,3 times by the year 2030.

You could also might be interested in our article about Medellín and its goal for 2030.

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