The province of Córdoba was a pioneer in the entrepreneurial ecosystem of Argentina by establishing a subnational-level Innovation Agency.
In 2016, the Agency Córdoba Innovates and Undertakes was born in response to the need to promote the development of dynamic and innovative enterprises in the province, benefiting the entire population.
A public-private approach was adopted in which private investors participate in the startup’s social capital, while the Agency provides support through the Financial Assistance for Better Fortune (AFMF) tool.
Today, Córdoba is a prominent educational-university hub at the regional level, with a growing ecosystem of entrepreneurs that enriches year after year with the addition of new actors and tools.
The creation of this Agency in Córdoba served as a model for many other provinces, encouraging them to enter this new ecosystem.
“We were the first subnational innovation agency in the country, we are the only one in Latin America, and we are also the only one that participates in the IDB,” stated Pablo Peralta, executive director of the Agency Córdoba Innovates and Undertakes.
There is a debate about the benefits this agency brings to Córdoba and all of Argentina. Some see it as an unnecessary expense, while others consider it essential to empower entrepreneurs. The reality is that, without the agency, many projects would not be possible due to a lack of financial support and knowledge.
According to a study by Startup Genome and Global Entrepreneurship Network, the innovation ecosystem in Córdoba is among the most prominent in Latin America. Over the last five years, the sector has experienced a 165% growth in the province, the highest in the region.
The report points out that the value of Córdoba’s dynamic and innovative entrepreneurship ecosystem exceeds USD$319 million, placing the province at the 15th position in terms of talent and financing access, highlighting the work of the Agency Córdoba Innovates and Undertakes.
One of the challenges in entrepreneurship is obtaining financing, and this program aims to strengthen capital development, fostering global competitiveness of Córdoba’s innovation and investment ecosystem.
In this edition of the program, eight institutions participated, and 76 startups were selected to be part of the various acceleration programs offered by each institution.
It’s worth mentioning that 63% of the selected startups are based in the province of Córdoba. Other notable locations are Buenos Aires (15%) and Tucumán (13%). Also, 4 startups (5%) from other countries participated: Uruguay and Chile.
The initiative coordinated by the Agency Córdoba Innovates and Undertakes, in collaboration with the Pampa Start investment fund, aims to increase the number of investors in Córdoba’s innovation and technological entrepreneurship ecosystem.
The workshops cover topics such as the ecosystem structure, financing of enterprises, distinction between investors, key concepts, existing risks, and the context of entrepreneurial capital in Argentina, Latin America, and the world. These meetings take place in various locations across the province.