Argentina

Córdoba

MEMBERS:
Agencia Córdoba Innovar y Emprender

“Córdoba embraces sustainable innovation and emerging tech challenges. The ecosystem has to be able to respond to these challenges, and the Agency contributes to this objective by enhancing startup deal flow, boosting institutional capacities, and fostering academia-industry connections to meet new global paradigms.”

Manuel Ron
President, Córdoba Innovation and Entrepreneurship Agency
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Highlights

Córdoba, Argentina's second-largest Province, is a vital manufacturing and technology hub with major operations of companies such as Stellantis, Nissan-Renault, Volkswagen, Globant, and Mercado Libre, among others. With 3.5 million residents, the Province contributes 9% of the national GDP and boasts Argentina’s oldest university facilitating global communication, particularly with Europe, China, and the U.S.

Córdoba’s productive development is favored by a strong local institutional framework. Agencia Córdoba Innovar y Emprender, henceforth the Agency, supports Córdoba's innovation and entrepreneurship landscape with a large range of programs. Agencia ProCórdoba connects the province with global ecosystems promoting exports. The Agencia Competitividad leads cluster development policies. The three agencies work together to promote Córdoba’s global competitiveness and innovation.

As part of a rapidly growing startup ecosystem, reports by the Agency show that there are more than 20 incubators and eight venture capital institutions in Córdoba, more than tripling their presence over the last six years. Over the same period, there was a 167% increase in Series A startup investment. There is also a significant dynamism in the venture capital industry in the province, with a 474% increase in the total amount of money raised by startups from 2016/2017, reaching $51.3 million in 2022/2023.

There are 400 dynamic and innovative startups in the Province — around 10 per 100.000 inhabitants. This yields a startup density similar to that of Bogotá and Santiago de Chile. The Agency and the Government of Córdoba, alongside the private and academic sector, have developed initiatives like open innovation labs, hackathons, innovation vouchers, and collaborative innovation workshops, impacting more than 200 SMEs.

Ecosystem by the Numbers

ECOSYSTEM VALUE
(H2 2021 - 2023)
$321.5 m
GLOBAL AVG. $29.4 bn
TOTAL EARLY–STAGE FUNDING
(H2 2021 - 2023)
$23.5 m
GLOBAL AVG. $655 m
ECOSYSTEM VALUE GROWTH
(H2 2021 - H2 2023 VS H2 2019 - H2 2021)
287%
287% 287 100 46% 46 16 0
GLOBAL AVG. 46%
NUMBER OF UNICORNS
(H2 2021 - 2023)
0
GLOBAL AVG. 3
MEDIAN SEED ROUND (H2 2021 - 2023)
$250 k
GLOBAL AVG. $985 k
MEDIAN SERIES A ROUND (H2 2021 – 2023)
$1.4 m
GLOBAL AVG. $7.5 m
SOFT. ENGINEER SALARY (2023)
$21 k
GLOBAL AVG. $47 k
EARLY-STAGE FUNDING GROWTH (2020 - 21 VS. 2022 - 23)
2
Scale of 1 (lowest) to 10 (highest)
TOTAL VC FUNDING (2019 - 2023)
$68.2 m
GLOBAL AVG. $4.6 bn
TIME TO EXIT (2019 - 2023)
14.5 years
GLOBAL AVG. 10 years
EXIT AMOUNT (2019 - 2023)
$20 m
GLOBAL AVG. $8.9 bn
EXIT COUNT (#)
(2019 - 2023)
3
GLOBAL AVG. 80
0
0
0
2
1
2019
2020
2021
2022
2023

Sub-Sector Strengths

Agtech & New Food

The Agency Innovation AgTech Hub program connects key players to boost Córdoba's Agtech sector. The Agency-commissioned Agtech Mapping study shows that between 2020 and 2023, Agtech startups in Córdoba grew by 94%. Río Cuarto hosts 30+ Agtech startups backed by local investments and institutions like Pampa Start VC, which launched its second fund in 2023 and aims to raise $5 million. In June 2023, a delegation of Agtechs from Córdoba, including startups like Seed Matriz and Kilimo, attended the World Agri-Tech South America Summit in São Paulo.

AI, Big Data & Analytics

In 2023, software developer Santex unveiled SAM, an AI platform to transform digital interaction for businesses, showcasing local talent collaboration and responsible AI implementation. In 2023, there were AI advancements within the region including innovative AI applications such as 3SIGMAS, Kunan SA, NeuralActions, Caramel Point, and Aipha-G. State-run electric power operator EPEC has installed over 270,000 smart meters across Córdoba that facilitate efficient data management and automation.

Cleantech & Biotech

Córdoba leads renewable energy generation projects and has championed the Community Distributed Generation program in Argentina, enabling users to collectively generate renewable energy. Carbon Neutral +, a startup supported by the Agency, is a key player in the industry helping companies and governments to become carbon neutral. Córdoba’s first Biotech Cluster holds more than 28 Biotech startups from 81 companies in agriculture, life sciences, assisted fertilization, and biomaterials, among others.

Reasons to Move Your Startup to Córdoba

Business-Friendly Environment

Córdoba has a regulatory framework that offers several advantages such as the simplicity, ease, and speed to create a company. The Province also has its own Knowledge Economy Law, which boosts tech and innovation development with fiscal stability, tax exemptions, and incentives for growth, encouraging job creation.

Educated Talent

Córdoba Province has a vibrant educational landscape, nurturing over 280,000 active students across 12 universities, offering more than 780 university degrees. There are 40 ProA schools that are model public secondary institutions in Córdoba offering education in software development and biotechnology, preparing youths for key regional industries.

Dedicated Support

There are 63 entrepreneurial support institutions in the Córdoba Province, 44 of which are based in the capital. Through the Data.IE Platform, the Agency collects information on various ecosystem variables such as the number of startups, the number of institutions, the evolution of venture capital, and open innovation projects. This is done through interactive dashboards, sectoral reports, and impact reports of public programs. Through 2023, the Agency has produced 26 reports.




Selected Startup Organizations

Startup Genome Members

Key Ecosystem Players

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