In the last decades, Colombia has grown in its economic development and innovation, placing it on the radar for new foreign public investments. In this article, we will discuss some of Colombia’s most innovative companies.
The Colombian Innovation Sector
Ecopetrol, Grupo Nutresa, Grupo Familia, Cementos Argos, and Cotecmar are leading Colombia’s current business and productivity growth and development. In addition, 50% of the companies are located in the Antioquia region, a good sign for this region. The other 50% is distributed in organizations in and around Bogotá, Barranquilla, Pereira, Santander, and Valle del Cauca.
To determine whether a company is innovative, they must meet various criteria in the following divisions: innovation strategy, innovation area, and organizational ownership.
In addition, the number of innovations in products, services, and processes, the target market, the generation of corporate entrepreneurship, the appropriation of exponential technologies, jobs for innovation, and the Sustainable Development Goals, are taken into account.
Why are these companies innovative?
Ecopetrol
Ecopetrol has an Innovation and Technology Center, a department responsible for developing new products that have recently reached patent number 100. Last year, for example, they created a super foam that separates water from oil in their processes.
Grupo Nutresa
There are 270 people dedicated to research, development, and innovation activities and a corporate entrepreneurship program called Nutresa Ventures in Grupo Nutresa. They are constantly creating new brands, categories, and markets. With their innovation system called Imagix, they are expanding significantly into the institutional channel and restaurants.
Grupo Familia
This company seeks to democratize innovation with products that can reach the local base, for example, offering diapers per unit in neighborhood stores. Additionally, it uses predictive analytics to launch products. It has also developed technology platforms to connect with consumers and automated warehouses. It currently has more than 200 products in the pipeline ready to launch in the near future.
Cementos Argos
Cementos Argos recently developed a new ‘green cement’ formula for more environmentally friendly cement manufacturing. In addition, they launched a fleet of 25 innovative mixing trucks in the Caribbean with innovations that make their operations safer.
Cotecmar
Finally, the Science and Technology Corporation of Cotecmar, researches issues such as eco-friendly hospital furniture, non-invasive mechanical respirators, ozone cannons, and protective masks. They also design and build wind farms. In addition, they have developed an internal program called “Armando Ideas” to promote the new ideas, where the winners receive prizes every six months.
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