In order to strengthen the entrepreneurship and innovation ecosystem, and to position Bogotá and the region as an innovation and development hub in the international arena, since 2009 the Bogotá Chamber of Commerce, its subsidiary Corferias, and the District Secretariat of Economic Development have been working on the creation of a Science, Technology, and Innovation District of Bogotá (DCTI, as per the acronym in Spanish), a dream for at least 15 years.
Finally, the initiative has made progress in the last two years. Pre-feasibility studies have already been completed and a governance model has been established. Likewise, the structuring of the services, incorporation in the Bogotá Development Plan and the Corferias Master Plan, and the entire feasibility phase of the project have been carried out.
All of these activities are now being boosted by formal national and departmental government involvement in the project.
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The Mayor of Bogotá, Claudia Lopez Hernandez, highlighted that "today, Bogotá Region receives eight of every ten entrepreneurship, innovation, and technological development projects that come to Colombia. Imagine what things will look like in 2026 when we have a suitable 40,000 square meter site that we can offer to the innovators of Bogotá, Colombia, and the world!”
She also indicated that Bogotá is not only an essential part of the Metropolitan Region and is now kicking off the DCTI, but that it also has Ágata (the data analytics agency), and Atenea (Agency for Higher Education, Science, and Technology). The latter is charged with training the human capital that Bogotá needs to take advantage of the Science, Technology, and Innovation District of Bogotá.
In this vein, the President of the Republic, Iván Duque Márquez, said that "a dream that we began to discuss several years ago is materializing and sends a new message to the capital of the Republic: we want a Bogotá that continues to be characterized as a center for business incubation, creative industries, and of course, for it to be the great Latin American center of innovation in science and technology". Nicolás Uribe Rueda, president of the Bogotá Chamber of Commerce, stated that "this initiative will contribute to consolidate Bogotá as the Latin American capital of entrepreneurship and innovation by providing opportunities for entrepreneurs and businessmen to access investment capital and services that will promote business around the DCTI. We celebrate the involvement of the National Government and the Governor's Office of Cundinamarca because this gives a boost and will accelerate this mega-project that will boost competitiveness in Bogotá and the region".
This initiative will complement the first Fairs, Events, and Conventions District in Latin America, of which Corferias, the Hilton Bogotá Corferias hotel, and Ágora Bogotá are part. With the Innovation District, the city will consolidate its commitment to the sophistication and diversification of its productive apparatus and will be strategically articulated with the productive commitment of the Zoning Plan.
Bogotá generates productivity because it is an 'ideas factory'. Bringing actors of the innovation ecosystem together in a single area will generate important synergies that will make us more productive and competitive. Andrés López Valderrama, executive president of Corferias, pointed out that for several years a Master Development Plan has been designed together with the Bogotá Chamber of Commerce. "This design process has involved the realization of several actions of innovation, strengthening, transformation, and many learnings," he recalled.
"The first step was to modernize and transform ourselves to position Colombia as a world-class destination for fairs, events, congresses, and conventions, through the consolidation of the first and most important fair and convention center in Latin America and the consolidation of more than 60 fairs that serve all sectors of the economy," said Lopez Valderrama.
"Undoubtedly, this megaproject will put the city on the global innovation and high-impact entrepreneurship map, energize the economy, create jobs, and offer enormous benefits for residents in terms of urban revitalization and enjoyment of public space. This is proof that coordination between the public and private sectors generates benefits for all," said Alfredo Bateman, Secretary of Economic Development of Bogotá
"The only way to lead in life is by example. Working on common goals together with those who we have differences with is the measure of true democratic spirit. That is why Bogotá is growing and is Colombia’s economic center, its hope. Bogotá never gives up and always puts collective needs first. The Bogotá Region is unstoppable!" concluded the Mayor with optimism.
The project
The Innovation District will also promote the development of human talent competencies and trigger the process of urban transformation to improve people's quality of life.
It will provide minimum viable product laboratory services; a center for environmental understanding; an entrepreneurship landing stage; coordination with the entrepreneurship and innovation ecosystem; a knowledge transfer and training center; a data and information center; coworking and networking spaces; and auditoriums and showrooms for the dissemination of STI initiatives and services based on 5G technologies.
The Innovation District will have two types of business models: a business that will generate revenue from the rental of spaces, and a business related to science, technology, and innovation activities, ACTI, and R&D, which will generate revenue from the provision of STI services.
Investments
To make the Innovation District a reality, a total investment of close to 300 billion pesos is required, including 11 billion pesos for feasibility studies provided by the Bogotá Chamber of Commerce, Corferias, and the District, and 286.57 billion pesos for the acquisition of the land, the construction of the headquarters building, and the first phase of the office building. Of the latter, 51 percent will be contributed by the Bogotá Chamber of Commerce (CCB, as per the acronym in Spanish) and its subsidiary Corferias, and 49 percent from the allied public sector entities, including MinCit, the Government of Cundinamarca, and the District.
For this year, the master design of the Orange Development Areas Plan, comprehensive feasibility structuring, detailed studies and designs, and social and property management are planned.
