Investment in Software and IT Services

Investment in Software and IT Services

Colombia, a growing market. According to IDC, the Colombian IT sector grew 14.1% (CAGR 2003 – 2016) and it´s the fourth largest IT market in the region.

The Government is committed to support and advance the services sector through the Productive Transformation Program. This is a consolidated strategy for growth and development, which in recent years as a result of the adequate environment it has created, the program has earned a global recognition.

With the online government programs, the strengthening of the IT Industry and Vive Digital -through the Ministry of Information and Technology - the Colombian government is working to promote the use of these tools and networks. These programs open up a wide range of opportunities for the Hardware and IT Services in the country thanks to the large use of technology, industry and population growth that look for these goods and services.

 

  • According with IDC, between 2003 and 2015, the Colombian IT sector had five-fold its size.
  • During 2015, hardware took the largest share in the IT industry market based on PC and smartphone sales (54.7%), followed by IT Services (12.1%) and software (33.1%) (IDC, 2016)
  • Colombia is the third largest IT services provider in Latin America behind Brazil and Mexico; sales reached $2.4 billion USD led by outsourcing and support and development services. (IDC, 2015)
  • A total of 14.1% of Colombia’s students graduated from areas related to the software and IT sector. This labor force is mainly comprised by college undergraduates and technologists. (Ministry of Education)
  • Colombia has an infrastructure capable of handling world-class operations, with 10 submarine cables that allow the use of 4G technology (MinTIC, 2016)
  • The “Vive Digital” program is aiming an economic growth based on the ITC´s use and appropriation. Through this program 1,048 counties are connected to internet, increasing the internet connections from 2.2 to 10.1 million of connections in the country. (MinTIC, 2016)

These are just some of the reasons to invest in Software and IT Services. We invite you to learn additional details about Colombia and why it is the perfect destination for your projects.

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Investment in Software and IT Services 20166.5 MB

Investment Opportunities

  • Government Online: National Administration is committed with making easy to the population the access to Government through 3 different lines.
    • Healthcare: It is mandatory to move to Digital Health History, where patients and doctors can access to exams and clinic concepts in the Contributive and Subsidized System.
    • Justice: Government is committed to move from physical files in justice process to digital files, that would help with times and accuracy in courts.
    • Culture: In order to protect Cultural Material such as traditional sounds, pictures and oral tradition will be digitalized  
  • Internet and mobile apps, Pivotal services for the banking system: The financial sector is seeking to expand the banking services in the country, and apps and mobile services are the perfect tool to meet this goal thanks to the widespread use of mobile Internet and smart phones.
  • Data management in the Agribusiness Sector: Small and large agricultural, hunting, fishing, and forestry producers are demanding data management and software to reduce costs, conduct vermin control, and improve their production.
  • Manufacturing Value Chain: In order to help local and foreign manufacture companies, it is important to provide services that support them efficiently in the goal of access new markets and be part of the global value chains.
  • Oil and gas sector, eager to implement IT services: Colombian state oil company Ecopetrol and related transnationals are demanding more and more IT services, like HiTech Software Developments to optimize their drilling, extraction, and logistics procedures.
  • Infrastructure, bolstered through mobility: The Colombian government is determined to develop the air, road, port, and railway infrastructure with a budget over US$ 37 Billion. Software and mobile communication services are fundamental to improve efficiency, reduce time, and control expenses.
  • Telemedicine: Thanks to the country’s high Internet connectivity and the widespread use of smart phones and mobile devices, telemedicine is now available for Colombians. As a result, both large and small health institutions are looking for technological products and services to help them care for their patients remotely.

Success Stories

  • BT (United Kingdom): new data center to fulfill the growing data center demand of the region. This new investment increases BT capacity to meet global and local companies’ needs in Latin America.
  • Globant (Argentina): Since 2011, Globant has been increasing its operations with 3 offices in Colombia, one in Medellin and two in Bogota. Globant exports US$ 22 million from Colombia to Latin America and United States.
  • Tech Mahindra (India): Tech Mahindra acquired Leadcom in Colombia in order to have a total coverage of the local market and reach international markets within the region offering telecommunication services.
  • IBM (United States): IBM has expanded its operations with more value-added services and now has 3 high tech data centers in Colombia focus on data analytics services.

These companies were supported by PROCOLOMBIA Colombia.

Advisers of Contact for Regions:

Maria Paula Forero: South America and Asia.

Andrea Castañeda: Europe, Mexico, Central America and Caribbean.

Andrés Vargas: United States and Canada.

 

At PROCOLOMBIA we cater to international companies, large enterprises and foreign government agencies interested in investment in Colombia.

Due to the nature of our activities, we do not attend to individual or personal investment requirements.

We suggest you review our Frequently Asked Questions on Investment in Colombia before you send us your inquiries.

If you are a corporate investor, please fill out our contact form.

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