"The entrepreneurial ecosystem in Córdoba has demonstrated remarkable growth. The region boasts a diverse range of actors that are highly interconnected and work collaboratively, including business incubators, accelerators, investors, institutions that support entrepreneurs, and public sector organizations that are highly interconnected and work collaboratively.“
Considered Argentina’s second startup region after Buenos Aires, Córdoba is home to 368 startups, and 36 of them raised venture capital in 2022. Private sector financing increased almost five times compared to 2021, reaching $41.3 million. 60% of the ventures that raised capital were in one of four sub-sectors: Agtech, Biotech, Ecommerce, or Fintech. Until 2019, the percentage of companies that raised funding that had a female founder was 15%. Since then, this has increased to an average of 32%. The Córdoba Innovation and Entrepreneurship Agency is the leading institution for the development of startups in the region. It runs a comprehensive platform sharing data about the ecosystem’s entrepreneurial actors.
There are 22 business incubators in the province, eight institutions that provide venture capital to startups, two angel investment clubs with almost 70 investors, and more than 20 entrepreneurial support institutions. There is a significant concentration of actors in the capital city, with 80% of the startups and 70% of the institutions being located in this area.2 In September 2022, the Córdoba Innovation and Entrepreneurship Agency launched a new voucher program in collaboration with UVITEC, a technology transfer unit aimed at promoting open innovation in companies and enhancing their competitiveness.25 Eligible companies can receive funding of up to $56,400 per project, covering up to 50% of their total costs. In August 2022, the third edition of the Argentine Entrepreneurship Capital Forum was held in Córdoba, with over 180 participants.
Ecosystem by the Numbers
Agtech & New Food
As of December 2022, the Province of Córdoba was home to 69 Agtech startups, and seven raised capital funding in that year. Kilimo, an irrigation-management platform, raised a $2 million Series A round. Innovation Agtech-Hub is a cutting-edge initiative that facilitates collaboration between large companies, startups, producers, investors, and other key stakeholders in the agricultural ecosystem. It offers a range of programs and initiatives, including theProvincial Good Agricultural Practices Program, which aims to support producers and raise the visibility of Agtech businesses.
There are around 14 Biotech startups in Córdoba and local universities offer 10 graduate and undergraduate courses in related fields.16 The province of Córdoba has the second-highest number of researchers and research projects in the country. The first biotechnological cluster in Córdoba was formed in March 2022. Home to more than 150 researchers and technicians, CEPROCOR is a scientific-technological center dedicated to commercializing innovation.
As of December 2022, there were 41 Ecommerce startups in Córdoba. This includes Comparaencasa, a digital insurance broker with a mission to democratize insurance in emerging markets, ClickOh, a YC-startup that built the largest logistics network in Latin America to store, pack, and ship for Ecommerce companies in Latin America, and Rapiboy, a restaurant delivery platform.
Reasons to Move Your Startup to Córdoba
The province of Córdoba offers a streamlined process for the creation of companies that can be completed in just one day through a digital platform. A federal promotion regime effective by law since 2019 aims to turn Argentina into a hub for technological development and innovation. This law benefits companies in knowledge economy sectors, such as software development, Biotechnology, AI, and Robotics. Benefits available include an income tax rate reduction and tax credits for hiring employees from under-represented communities.
There are 12 universities in Córdoba, which attract students from all over Argentina and South America. The National University of Córdoba is ranked #35 in Latin America. It hosts 300 study abroad students through a variety of programs, the majority of which are from Western Europe and Asia.
The Córdoba Innovation and Entrepreneurship Agency has representatives from the province, the private sector, and local businesses, as well as the academic sector and the entrepreneurial ecosystem. It offers a wide range of co-investment programs to stimulate entrepreneurship, encourage innovation, and facilitate the participation of accelerators, angel investors, and sponsor companies.
Selected Startup Organizations
Startup Genome Members
Agencia Córdoba Innovar y Emprender
The Córdoba Innovation and Entrepreneurship Agency is a leading public-private actor established in 2016 to help improve the performance of Córdoba’s entrepreneurial ecosystem. It is in charge of promoting the establishment of innovative ventures, developing territorial strategies for local economic development and executing plans, projects, and innovation programs. It has co-invested in more than 70 startups with angel investors and VC funds since 2017, contributing $2.3 million to entrepreneurs. More than 15 business incubators have been supported by the Agency through financial assistance, training, and performance measurement mechanisms. Currently, eight accelerators are being financially supported through a program, within which they select over 50 startups to accelerate. In addition, the Agency contributes to the professionalization of angel investors through a support program for angel investment clubs in the province.
Key Ecosystem Players
News from the Ecosystem
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