Economic reactivation

Staff Reporter, Gulf Today

In the economic sphere, Expo 2020 Dubai has been identified as one of the strategic pillars for the economic reactivation of Colombia. With its presence at the universal exposition, the country seeks to take advantage of the event as a great platform to offer products, investment opportunities and tourism from the Menasa region, the Middle East, North Africa, and South Asia.

“We accompany the start of the exhibition, a unique experience that favors the realization of business and investment in our country” said Minister Restrepo after his arrival in Dubai.

As part of his agenda in the UAE, Minister Restrepo will meet with representatives of UAE government entities and businessmen interested in business opportunities with Colombia, as part of the strategy to take advantage of free trade agreements, diversify markets and promote exports of Colombian companies.

On November 2, Minister José Manuel Restrepo participated as a panelist in the ‘Investment Climate’ conference at the mining sector business forum held by the National Mining Agency (COL) at the Colombian Pavilion.

During his lecture on the current state of the Colombian economy the minister said “Colombia is already on the path to reactivation and this is evident with the increase in growth forecasts for 2021 and with the recovery of close to 90% of the jobs lost during the pandemic. Colombia is ready for business, investment and the future”.

Likewise, the minister highlighted that Colombia is one of the countries with the best economic indicators in Latin America, following the impact of the pandemic. “We offer extraordinary investment opportunities for the coming years,” he said.

With his visit, Minister José Manuel Restrepo ratified the value for Colombia of its relationship with the United Arab Emirates and Expo 2020 as a platform for global development aligned with the objectives of internationalization and opening of new markets led by the Government of Colombia.

Meanwhile, 2021 has been a great year for corporate venture capital (CVC) investments so far, as the venture capital funding already crossed $79 billion, much higher than the total of last year’s $74 billion. In a rapidly changing business environment, innovating and responding to change via corporate entrepreneurship is key.

The 5th annual GELLIFY Corporate Entrepreneurship event scheduled for November 9 -10, 2021 from 4:00 pm – 8:30 pm GST will provide a state-of-the-art view on how some of the world’s most dynamic and innovative companies are embracing the new trends in corporate venturing, not only to increase profitability but also to develop an entrepreneurial culture.

The online event is free-to-attend and will see an exciting line-up of over 65 international speakers address a range of topics including corporate venture capital, venture building, diffusing entrepreneurial cultures within organizations amongst many more. Commenting on why innovation is critical in today’s economy, Massimo Cannizzo, CEO, and Co-Founder, GELLIFY Middle East said, “It’s indeed a very good time for corporate venturing in the Middle East as the opportunities are vast while the Middle East and UAE, in particular, has prioritized digital innovation. The pandemic has given rise to new consumer demands which require businesses to supercharge innovation to provide seamless products and services. This is where Venture building and Corporate VC-ing can help to create companies’ future.

Venturing helps established companies accelerate the adoption of digital technologies and create new markets through distinct and innovative vehicles. Along this journey, a new innovator’s dilemma has emerged: consolidated companies are required to reshape their decision mechanisms, integrating start-ups’ methods and mindsets into their leadership style. Corporate Venture is just an easier solution to that challenge.”

Connecting businesses and participants from around the world, the sessions at the symposium will deliberate on how can companies in any sector today take advantage of venturing methodologies, intrapreneurship, cross-innovation, and innovative technology startups to grow their business in the new post-pandemic economy.

CVC has become a core part of corporate innovation as a means of giving companies access to emerging technologies including artificial intelligence (AI), financial technology, and biotechnology. This trend shows no sign of slowing as the impact of emerging technologies on the economy increases.

Speakers and participants will meet virtually and share new trends and venturing methodologies that connect established companies with innovative technology startups. The focus will be on sharing experiences, insights, and practical ideas that senior managers and entrepreneurs in medium to large enterprises can use immediately to co-innovate and ensure a better future for the organizations they are part of. Moreover, the interactions will be enhanced by the interactive HOPIN platform, with moments dedicated to individual interactions and one-to-one networking with a network of over 450 innovators within corporate companies.

The discussion will revolve around four major themes: Corporate Venture Capital, M&A, and Investments; Cultural change: the entrepreneurship mindset; How to thrive in the post-Covid economy as well as Creation and launch of new ventures.

Attention to Corporate Venture Capital strategies – i.e., the provision of risk capital by medium to large companies to finance the launch of a NewCo or startup is growing year by year.  There was a considerable increase in the number of $100m+ rounds, which tripled compared to the same period in 2020. Furthermore, in the first 6 months of 2021, there were 438 exits by CVC-invested companies and 120 IPOs (3 times higher than the same period in 2020).

“This year, we will also offer our B2B community of innovators an exclusive initiative,” said Michele Giordani, the Managing Partner and Founder of GELLIFY. “Through all the scheduled events, we will go even deeper into business resilience, digital innovation, and entrepreneurship, the main keys to become competitive on the market within structured companies, whether corporate or SMEs. We will do this through round tables and thematic sessions, but the real novelty of the year will be the possibility to participate in individual immersive speed-dates, where everyone will have the opportunity to introduce themselves, exchange virtual business cards, and interact with speakers and participants.

In fact, we strongly believe that the other really effective key to Corporate Entrepreneurship is networking: the possibility of being able to compare yourself with other C-levels or entrepreneurs who are implementing new approaches to innovation helps to better and more quickly understand which strategies and practices to adapt within your own organization.”

Some of the eminent speakers at the upcoming event will be Kai Ling Ting, Head of Innovation at Etihad Aviation Group; James Carroll, Senior Vice President - Digital Services, Mastercard; Lars Buch, EVP Head of Ingenius Digital Ventures at Injazat; Wolfgang Sachsenhofer, Head of Strategic Venture Capital- AXA; Tal Catran, Accelerators Guru- Israeli Start-up Scene; Gonzalo Galindo, Head of Cemex Ventures - Cemex Ventures; Stefano Fumi, Director of Energy Project – PostePay amongst several others. The law firm Gianni, Origoni, Grippo, Cappelli & Partners, and the tax consultancy firm Pirola Pennuto Zei & Associati are the strategic partners for this year’s event.