By the Numbers
Compound Annual Growth Rate (last 6 years)
GDP per capita
in the last decade
country in Latin America
Scale-up companies are the cornerstones to the continued growth and development of the Colombian economy
According to a 2012 Endeavor report, Latin America will need to create more than 50 million new jobs by 2020 to provide career opportunities for those who are currently unemployed, in addition to young people who will soon join the workforce. Entrepreneurs who scale their businesses are a critical piece of the solution to this issue. While scale-ups only account for 8% of Colombian companies, they create up to 45% of all new jobs in the country (World Bank).
High-potential, growth-oriented scale-up Colombian companies can’t reach their full potential because of a lack of access to talent, markets and capital
According to a 2012 OECD report, Colombia suffers from an “inverted pyramid” imbalance between technical education and higher education, often with 70% of a cohort in higher education and 30% in technical education. A significant portion of its foreign investment leaves the country periodically as jittery investors move their capital to ¨safer¨ bonds and dollars. Additionally, a recent survey conducted by the World Bank found that access to finance was identified as a major constraint to the growth and success of scale-up businesses. These conditions prevent many high-potential enterprises from harnessing their true economic potential.
Of these deficiencies, an infusion of high-quality human capital can have the highest impact in the successful development of scale-up companies
High-growth, scale-up companies need to rise above the phases of inertia and inefficiency that naturally develop in the transition from small entrepreneurial ventures to medium-sized enterprises. The World Bank’s “Management Survey” found that Colombian leaders assessed themselves as having the highest management quality of all the countries included in the survey, yet scored lowest in the actual managerial quality of all these countries. The right infusion of strategic human capital is just what many of these business leaders need to elevate their enterprises to the next level.
High-performing, internationally-focused MBA-educated talent is the best means of filling the competitive gaps preventing scale-up companies from reaching their full potential
Top-notch MBA graduates are traditionally mature, experienced and able to adapt to new business contexts. MBA programs serve as quality filters for recruiting talented candidates, while creating a shared language and toolkit for associates participating in the BizCorps program. These professionals offer the skills and experience needed to make the Colombian scale-up dream a reality.