Fondo Córdoba Ciudad Inteligente selects startups for investment

This initiative is the first govtech fund in Latin America that, together with the IDB Lab, supports technology-based ventures to work in this Argentine city.
Fondo Córdoba Ciudad Inteligente

Creativos Digitales, KIGUI, AGROHUB, MOTHUS, APELIE ROBOTICS, and DATASKETCH are the new startups selected to receive investment from the Fondo Córdoba Ciudad Inteligente.

In a ceremony led by Martín Llaryora, mayor of the city of Córdoba, Alejandra Torres, Secretary of Planning, Modernization, and International Relations, and Guillermo Acosta, responsible for Economy and Finance, the six ventures that will receive support from this program were introduced.

Fondo Córdoba Ciudad Inteligente is the first govtech initiative in Latin America (Latam) and is co-financed by the BID Lab, the innovation lab of the Inter-American Development Bank Group.

The selected startups: Creativos Digitales, KIGUI, AGROHUB, MOTHUS, APELIE ROBOTICS, and DATASKETCH will receive USD $700,000 and will be tasked with implementing innovative solutions in Córdoba Capital in the domains of education, health, social development, and modernization.

To achieve this goal, the startups will collaborate with various departments of this Argentine municipality to implement solutions that have an impact on the development of a city that is more inclusive, sustainable, and smart.

The USD $700,000 that the introduced companies will receive are financed to 85% by the Municipality of Córdoba and the remaining 15% by BID Lab, which prioritizes improving lives in Latam and the Caribbean.

“This is a program that seeks to meet the need for financing. There are ideas, entrepreneurs, and capabilities, but many ventures, without funding, do not prosper,” explained Martín Llaryora.

“In this uncertain context as a country, after the pandemic and with an economic situation where we don’t know what might happen, this is hope. It’s stopping the ball and knowing that here we are strengthening and building what has to be the future of Argentina,” added the mayor of Córdoba.

Fondo Córdoba Ciudad Inteligente was born from an initiative of the municipality of this entity and co-financed with BID Lab, with the aim of supporting and driving the entrepreneurship and innovation ecosystem in Córdoba Capital.

With this initiative, it is the first time in Latam that a government strategically partners with startups through venture capital to address public, social, and environmental issues.

In the first stage, over USD $1,000,000 was injected into 10 startups, which are already implementing innovative solutions in the city in areas such as the environment, mobility, modernization, human capital, and education.

“This is the best investment plan the Municipality has; great results will come from this. If we plant this, we will harvest progress,” Martín Llaryora affirmed.

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