Duque begins construction of Bogotá's Science, Technology and Innovation District

On Tuesday, March 15, Colombian President Ivan Duque announced the establishment of the National Association of Governments for the Construction of the Bogotá Region for Science, Technology and Innovation, which predicts that the public and private sector of the country will contribute a total of $300 billion.

This was stated by the President at an event held jointly with representatives of the Bogotá Chamber of Commerce, the Corberias Branch, the City Hall of Bogotá and the Government of Cundinamarca, which is responsible for the development of this project.The Ministry of Industry and Tourism is responsible for supporting its integration.

“This initiative will promote the integration of Bogotá as the capital of entrepreneurship and innovation in Latin America, giving entrepreneurs and entrepreneurs the opportunity to access venture capital and services that will improve their business and create jobs,” said Bogotá side. Roubeida

The initiative, which is expected to build 400 square meters that will create a joint business model accessible to entrepreneurs and entrepreneurs, aims to promote the entrepreneurial and innovative ecosystem of the capital and position cities and regions as research centers in the international arena by 2026.

At the same time, an investment of $11,000 is planned. The total amount, including $11,000, is $1,000.2,865.7 million for a pre-feasibility study donated by the Chamber of Commerce and the District. The first phase of building headquarters and office buildings is estimated at the same time.

The Bogotá Chamber of Commerce has announced that it will donate 51% of the funds and the remaining 49% will be forwarded by relevant organizations in the public sector, such as the Ministry of Commerce and Tourism, the Government of Kundinamarca and the Metropolitan Government.

“In Bogotá's Science, Technology and Innovation District, there are two types of business models: the real estate business, which generates income from the rental of space, and the business related to science, technology and innovation. The national government stated that it will generate revenue from the provision of services.

Over the next 10 years, Colombia will attract 30 billion pesos to promote science, technology and innovation in the United States. Of this money, 200 billion dollars will be transferred to this sector through Conpes, and the remaining $100 million will be delivered through the state loyalty system.

“Where were the resources in this sector? What investments are being made in the public sector? It can be said that Conpes 469, which we prepared last December, speaks of an investment of about 200 billion dollars in this sector without taking into account royalties for the next 10 years. “This is another historical milestone in science, technology and innovation in our country,” said President Ivan Duque.

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