F/MS Top Startup Cities

5 min read

Barranquilla, Colombia #836

City Scores

City Total Score

0.162

Overall ranking score

Quality Score

0.02

Ecosystem quality rating

Quantity Score

0.03

Ecosystem size rating

Business Score

0.11

Business environment rating

Score Distribution

Score Comparison

MeanCEO Index Click to scroll to details

66

Startup Ecosystem in Barranquilla 🌟

TL;DR

Barranquilla is currently ranked as the 836th city in the Global F/MS “Best Cities for Startups” Index. This vibrant coastal city is making strides in enhancing its startup environment, thanks to its unique cultural blend and growing support for entrepreneurs.

Startup-Friendly Stuff 📈

1. Ease of Company Registration

  • Business Registration: Barranquilla has simplified its company registration processes, allowing for quicker setup times.
  • Startup Incentives: The local government offers incentives to attract tech startups, including grants and subsidies.

2. Employment Law 🏢

  • Labor Regulations: Employment laws protect workers well, but navigating them can be complex for new businesses.
  • Hiring Foreign Talent: Hiring processes for foreign talent are improving, though work permits may involve bureaucracy.

3. Taxation 💰

  • Corporate Tax Rate: The standard corporate tax rate is around 30%, with some exemptions for qualifying startups.
  • VAT Regulations: Competitive VAT rates exist, especially beneficial for innovative industries.

4. Quality of Life 🌆

  • Living Standards: Barranquilla has a lower cost of living compared to Colombia’s major cities, making it an attractive spot for entrepreneurs.
  • Culture and Leisure: Rich in culture with ample parks, rivers, and festivals reflecting the city’s vibrant spirit.

5. Bureaucracy 🗂️

  • Ease of Navigation: Bureaucratic processes are improving but can still present challenges, especially for permits.
  • Government Support: There’s a push for innovation, with local authorities providing support programs for startups.

6. Visas for Entrepreneurs 🌍

  • Startup Visas & Permits: Various visa options are available for foreign entrepreneurs looking to set up businesses.
  • Residency Options: Some long-term residency choices favor startup founders and investors.

Startup Community 🤝

7. Networking Events

  • A growing number of networking events, workshops, and tech meetups aim to connect local entrepreneurs with investors and stakeholders.
  • Annual entrepreneurship festivals highlight innovative ideas and new startups.

8. Subsidies and Funding 💵

  • Initiatives by the government and private sector provide funding opportunities, particularly for tech-driven projects.
  • Accessible grants can help cover startup costs.

9. Venture Capital (VC) Presence

  • Investments: An emerging VC landscape seeks to support innovative startups across various sectors.
  • Major Firms: Both local and international VCs are beginning to take interest in Barranquilla’s potential.

10. Incubators & Accelerators 🚀

  • Several incubators focus on technology, agriculture, and social impact startups.
  • Programs often provide mentorship, workspace, and potential funding avenues.

Technology & Industry Priorities 🔧

  • Focus Areas: Fintech, AgriTech, Leisure & Tourism, and E-commerce are gaining traction.
  • Government Initiatives: Local initiatives promote technology-driven entrepreneurship and support industry clusters.

Business Culture 🏙️

  • Language: Spanish is the primary language of business, but English is increasingly spoken in startup circles.
  • Work Environment: The city embraces a collaborative and innovative atmosphere, with a burgeoning entrepreneurial spirit.

General Pros and Cons ⚖️

Pros:

  • Lower cost of living compared to other Colombian cities.
  • Growing interest from local and foreign investors.
  • Rich cultural environment that inspires creativity.

Cons:

  • Some bureaucratic challenges still exist.
  • Limited access to venture capital relative to larger Colombian cities.

Initiatives for Female Entrepreneurs 👩‍💼

  • Barranquilla is witnessing initiatives aimed at boosting female-led startups, including dedicated funding sources and mentoring programs.
  • Networking events specifically targeted at women entrepreneurs are becoming more common.

Barranquilla is carving out its niche in the startup ecosystem, providing a conducive environment for entrepreneurs eager to make their mark in a unique and culturally rich setting. 🚀

MeanCEO Index for Barranquilla 🌟

Barranquilla is emerging as a unique player in the startup ecosystem of Colombia. Let’s assess its viability for female entrepreneurs through the MeanCEO Index, evaluating ten essential factors that shape the entrepreneurial landscape.

1. Weather ☀️

  • Score: 8/10
    • With a tropical climate, Barranquilla enjoys warm temperatures year-round and an impressive number of sunny days. Its dry season brings many opportunities for outdoor networking, although the rainy season can be heavy at times.

2. Location 🏖️

  • Score: 7/10
    • Nestled on the Caribbean coast, Barranquilla offers easy access to beautiful beaches. The warm waters are perfect for swimming, making it not only a practical business location but also a delightful leisure destination.

3. Women Friendly 👩‍💼

  • Score: 6/10
    • While there are initiatives promoting female entrepreneurship, cultural attitudes towards women can be inconsistent. Gender equality is important, but traditional views can still influence some sectors.

4. Foreigners Friendly 🌍

  • Score: 7/10
    • Barranquilla is gradually becoming more welcoming to foreigners. Locals are generally friendly, and the rising interest in international business contributes to an open atmosphere, though some nuances may persist.

5. English as a Business Language 📚

  • Score: 5/10
    • Spanish is the primary language of business. Although English is becoming more common, especially among the younger crowd and in tech sectors, it still lags behind other major cities.

6. Delicious Cuisine 🍷

  • Score: 8/10
    • Rich in flavor and diversity, the local cuisine offers a blend of coastal offerings with minimal onion use and includes healthy options. The gastronomy scene is vibrant, contributing positively to social interactions and networking.

7. Ease of Getting Married and Starting a Family 💍

  • Score: 6/10
    • The dating culture is vibrant, with unique social settings to meet potential partners. However, societal expectations can sometimes create pressure. An attractive and active local population contributes to this score.

8. Medicine 🏥

  • Score: 6/10
    • Healthcare in Barranquilla is reasonably accessible, with various clinics and hospitals available. However, appointment wait times and service quality can vary, impacting the overall experience.

9. Ease of Transportation & Traveling 🚍

  • Score: 6/10
    • Public transportation options exist but can be limited. Ride-sharing services like Uber are available, and the city has an international airport, but improvements are still needed to enhance overall connectivity.

10. Startup Mindset 💡

  • Score: 7/10
    • The local culture fosters resilience and creativity, with a growing acceptance of failure as a learning experience. Increased support for innovative ideas is visible, especially within tech circles.

MeanCEO Index Score: 66/100 🎉

Barranquilla is carving out a promising niche for female entrepreneurs in Colombia’s startup scene! With a tropical atmosphere, enriching cultural experiences, and a developing support network, it presents a moderate yet encouraging environment for women in business. Challenges such as language barriers and cultural attitudes remain, but the city’s potential for growth and community support fosters a vibrant entrepreneurial spirit.

Happy entrepreneurship in Barranquilla! 🚀