Colombia’s Startup Ecosystem Is Booming
The Colombian entrepreneurial ecosystem is experiencing an exciting moment. In 2023, Colombia saw a 30% increase in startups compared to the previous year, reaching 1,720 startups that raised USD $786 million in funding (BBVA Spark). The country is now the third-largest destination for venture capital investment in Latin America, only behind Brazil and Mexico.
This growth is no longer concentrated solely in Bogotá—which houses over half of these startups—but is expanding across cities like Medellín, Cali, and other emerging innovation hubs (BBVA Spark).
More and more local entrepreneurs are dreaming big, imagining global impact from day one. But turning a local startup into a global company comes with real challenges:
- How can you scale operations while maintaining quality?
- How do you adapt your product to different cultures?
- What legal and logistical factors must be considered when selling or establishing abroad?
- And most importantly, how can you grow without losing your core identity—or your commitment to sustainability?
This article outlines a strategic roadmap for Colombian startups and emerging businesses looking to expand beyond borders in a successful and responsible way.
1. Think Global from Day One
The most successful startups build a global mindset into their DNA from the beginning. This means designing products or services that can serve users in different countries and cultures, and creating scalable business models.
In practice, this includes:
- Considering language and localization
- Integrating international payment methods
- Respecting global data privacy laws (like the EU’s GDPR)
- Adapting marketing to cultural nuances
One emblematic case is Rappi, the Colombian startup that quickly expanded throughout Latin America by adapting to each market. Not every company will scale as explosively, but early international thinking attracts global investors—who now account for nearly half of all capital in Colombian startups (KPMG).
2. Prepare for the Challenges of Internationalization
Going global comes with its own set of legal, regulatory, and cultural challenges. Each country has different:
- Labor and tax laws
- Consumer protection rules
- Import/export regulations
For example, a Colombian fintech expanding to Mexico must comply with local financial regulations. Overlooking these details can lead to fines, delays, or even failure.
Product and cultural adaptation is equally crucial. Conducting market research or pilot tests helps refine your value proposition. And as you scale, your internal operations must evolve—potentially by opening local offices or building strategic partnerships in the target country.
3. Scale Sustainably
In 2024, growth must be balanced with responsibility. Here are key strategies for sustainable scaling:
- Stage-based expansion: Prioritize strategic markets and consolidate before moving on
- Smart fundraising: Present clear international growth plans and ESG-aligned models to attract impact investors
- Global networks & partnerships: Leverage accelerators, soft landing programs, and international mentorship networks
- Remote management & digital tools: Operate globally with lean structures through tech solutions
Sustainability is no longer optional. Incorporating ESG (Environmental, Social, and Governance) practices is essential for entering mature markets. Staying ahead of international regulatory trends not only improves your reputation but becomes a competitive advantage with global stakeholders (Global Compact).
4. Expert Guidance on the Global Journey
Internationalization requires expert support across multiple areas.
At 9A Grupo Empresarial, we offer comprehensive advisory services—covering legal, commercial, financial, and cultural aspects. We help with:
- Selecting the right jurisdictions
- Complying with international laws
- Structuring cross-border contracts
We also integrate sustainability principles into every step. We guide startups in aligning with global standards such as the UN Sustainable Development Goals (SDGs) or achieving B Corp certification, adding strategic value from day one.
Conclusion: Colombia to the World
Becoming a global company is a demanding challenge—but it’s within reach for Colombian startups with the right preparation.
By adopting a global mindset early, reinforcing your legal and operational foundations, scaling sustainably, and partnering with experienced allies, startups can expand responsibly and successfully.
At 9A, we believe in the borderless potential of Colombian entrepreneurs, and we’re committed to clearing the path to new horizons. If your vision is global, our team is ready to help you make it real.
The world is your next step.
