Between 2016 and 2022, Colombian companies have increased their investments in innovation by 62%. This is clear from the data from the Andi Business Innovation ranking, which highlights how Colombia is making its way in this field, essential for economic and social progress..
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However, there are still many challenges that companies in the country face in terms of innovation, since the country ranks 66th among 132 nations evaluated in the World Innovation Index.
According to Alejandro Olaya, Manager of Innovation and Entrepreneurship at Andi “Ignorance plays a crucial role in the low percentage of innovation in Colombian companies and ventures. Many times, organizations are not fully aware of new technologies, methodologies or processes that they could implement to innovate. However, different initiatives are being carried out from both the public and private sectors to continue increasing the percentage of companies that innovate in the country. The result of this is the increase in investment by companies in this area.”.
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To democratize knowledge in innovation and encourage the participation of a greater number of Colombian companies in this crucial area, it is necessary to implement a series of strategic measures and support programs. These actions seek not only to reduce the barriers to access to knowledge about innovation, but also to promote a business culture that values and prioritizes creativity and adaptability in the face of market challenges.
Innovation
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Among the key strategies to improve Colombia's position in the global innovation index are facilitating access to financing, the implementation of a more flexible regulatory framework that can adapt to new technologies and business models. Besides, strengthening collaboration between universities and companies to promote joint research and technology transfer. As well as the development of mentoring and acceleration programs that help companies optimize their time and resources in the process of scaling their innovative developments.
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“The comprehensive approach to innovation requires both government and business leadership, prioritizing policies and strategies that encourage innovation at all levels. In addition, it is crucial to implement recognition programs to motivate companies and entrepreneurs, and promote a culture where failure is seen as part of the learning process. It is essential to integrate innovation into business strategy and provide support to SMEs to develop and execute effective innovative strategies”Olaya added.
In this context, events such as the Innovation Land Summit, organized annually by Andi, become relevant as they actively promote the culture of innovation, democratize knowledge and facilitate valuable connections for companies.
The tenth edition of this event will take place on May 29 and 30 in Plaza Mayor, Medellín, which reinforces Andi's commitment to promoting innovation and digital transformation in Colombia.
Finally, this edition will feature guests such as Sam Nicholson, renowned expert in visual effects and innovation in his sector (with work for The Walking Dead and CSI), and Julian Bleecker, renowned author whose work explores the power of science fiction in the futures design, who promise to enrich the dialogue about how futuristic narratives and visual technology can anticipate and shape tomorrow.
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