In this exclusive interview, Loren Moss, Executive Editor of Finance Colombia, speaks with Cristina Zambrano Restrepo, the Executive Director of ACI Medellín. They discuss how the city nearly tripled its investment attraction over the past year, reaching over $400 million USD, and the strategies used to reassure international investors during a complex electoral landscape in Colombia.

Finance Colombia: I’m here with Cristina Zambrano Restrepo, the Executive Director of ACI Medellín. It’s always a pleasure to be with you. Thank you for the invitation. I know you’re extremely busy, so thank you for making the time to speak with Finance Colombia. How have you been?

Cristina Zambrano Restrepo: Very well, thank you very much. Truly happy to be here with you. Thank you for accepting this invitation. Without a doubt, we work to bring good and positive news to this city, and thank you for being here and for sharing and conveying all of these good things.

Finance Colombia: Yes, today you talked about the successes that ACI Medellín and the city have had this year in attracting investment. Tell us a bit about some of those successes. I think it’s going to be another large business hotel, and tell us a little about how you’ve kept busy.

Cristina Zambrano Restrepo: Of course. A major focus for us is job creation through investment attraction. So, what did we achieve this year? We went from USD 150 million generated last year to more than USD 400 million this year. As I’ve mentioned, this is reflected in the creation of more than 11,500 formal, high-quality jobs generated by this investment attraction. We have major allies and players here, such as Renault-Sofasa, Rivana Business Park, SoftServe, and POMA. A great deal of companies, some already established, others newly arriving in the region. TaskUs too, which is also extremely important and has made major commitments to us. These are the companies that manage to generate that employment.

Finance Colombia: Excellent, that’s fascinating. I have a history with Colombia of about 20 years, and here in Medellín of about 11 years, and it’s truly wonderful to see how the city has grown—not only in population, but in investment and innovation. However, we’re living in a time of high uncertainty around the world—not just in Colombia, not just in the United States, but globally. Especially when we talk about the sector, not in general terms, but politically and economically. Has this made attracting investment more difficult or more challenging over the past year? How has this affected efforts to attract FDI, like, foreign investment, and what strategies have you used to overcome this challenge?

Cristina Zambrano Restrepo: Here, clearly, the political landscape affects and directly impacts confidence, right? The stability of a region, how we present ourselves to the world and to those very large capital investments, showing that we are a stable region, that we believe in them, and that we will support them. So, what strategies do we have? Without a doubt, it has been very challenging. We would like, for example, to be able to offer a range of benefits, extensions, fast-track processes in permitting and such, but in that sense we depend heavily on the national government. But we don’t stop there. We work from the regional level and have a firm commitment locally, focusing on what we ourselves can support, contribute, and manage from this area, the private sector. Which also helped sustain the region during the previous administration, and the academic sector, all the universities, and that ecosystem, which have been fundamental. And now the public sector as well, we are all working together specifically from this region to demonstrate that we are a region that inspires confidence, offers stability, and has all the right conditions for investment to continue to arrive.

Finance Colombia: One thing you’ve mentioned that’s very important, and something Medellín is known for, is the collaboration between the private and public sectors. In many other places, without naming names, it’s an endless war. But in Medellín it has always felt like it’s everybody. That’s why Medellín has always had the Metro and continues to have major projects here, because the private sector has a strong sense of civic ownership. People talk about the GEA, but from a foreign perspective, what I’ve seen is that companies like Grupo Argos, SURA, Bancolombia, and more recently Nutresa, and many smaller ones that aren’t international names, have a sense of belonging and work hand in hand with the government. Speaking of that, for example, Mayor Federico Gutiérrez has traveled to the United States and other places to maintain those good relationships, despite what may be happening in Bogotá or at the Casa de Nariño. What is the importance of the efforts made by the metropolitan government and the city government of Medellín, not only at the ACI level, but also at the level of Alpujarra? How important is this in maintaining a long-term course so that foreign investors continue to see Medellín as a destination, no matter how much may be happening 400 kilometers away?

“We went from USD 150 million generated last year to more than USD 400 million this year… reflected in the creation of more than 11,500 formal, high-quality jobs.” — Cristina Zambrano Restrepo

Cristina Zambrano Restrepo: I think what you’re pointing out is fundamental, and it’s specifically how we’ve achieved this model in Medellín. In a way, when we go out into the world and explain how we work hand in hand, as you said, there are cities and countries that react like, “Why do we need to sit at the same table? I’m very clear about my purpose, and you’re very clear about yours.” Here, the real history of what this city lived through 40 years ago made all of us sit at the same table, and we realized that the efforts of the three actors are always aligned toward the same goals. What always matters to us is citizens’ well-being, quality of life, economic and social development, many things. So when we were going through our hardest moments, we managed to set aside egos, agendas, and competing visions. We sat down, we talked, and we’ve continued to work under that model ever since.

As for what’s happening and what lies ahead in the future: clearly, having a political leader like Federico Gutiérrez, with those strategies and international connections, matters greatly. Countries trust leaders who have demonstrated stability and very clear commitments throughout their governing trajectory, and that’s what our mayor has done. Because of that, they continue to seek us out as a region and want to work with us as a region. As we were just discussing, the investment world is very accustomed to government cycles, more than people might think. They know how to manage political and public-sector issues and how to make bold bets at certain moments. We work on this, and together with the mayor we focus on those countries where we need them to keep believing in us and trusting us. The United States is Colombia’s partner par excellence, that is not going to change. It is the largest market in the world. So the mayor’s strategy of being very close to that government, of working with a binational chamber like AmCham Colombia, which always helps us continue attracting investment and fostering exchanges, is exactly how we work hand in hand.

Finance Colombia: Well, you’ve been very generous with your time. Just two more questions. One is that in the United States, we have a saying: “Nothing happens before the elections.” That big companies are always waiting to see what’s going to happen, what’s going to unfold. Is it the same here in Colombia? I know in Colombia, even more than in the U.S., there’s a law—well, speaking of public contracting, where nothing can really happen. But aside from that, not talking about selling food to a school or something like that—do investors or multinational companies see this as a challenge? Are they ready to sign contracts, or are they waiting to see what happens?

Cristina Zambrano Restrepo: Of course, without a doubt it’s a challenge. And it’s not a minor one. It’s a challenge that forces us to work even harder to demonstrate, from the regional level, just how stable we can continue to be so that investment keeps coming. There are many companies that make their decisions regardless of the electoral period we’re in, largely because, as I mentioned, they know how to manage political risk. But there are certainly many others that are on pause, waiting to see what happens in the upcoming elections. So yes, in that sense, it does present significant challenges. Even so, we are still projecting USD 400 million for next year despite the elections, and we continue to work toward and commit to that goal. And regarding what you mentioned about contracting, specifically public-sector contracting; a city cannot come to a halt just because there is a law on guarantees, right? All of that is already anticipated. Contracts need to be signed and put in motion ahead of time. Everyone here knows how to operate during a six-month guarantees-law period, so everything has to keep moving and functioning.

Finance Colombia: The last question, I’ve known ACI, even from before I was living in Colombia. I’ve now been in Colombia for 12 years, and I’ve known Juan since I was living in Miami. They were always calling me, saying, “Look, come see what we have in Medellín. Come, let us show you something beautiful we have, or an investment opportunity here.” And that was truly a big part of why, when I was living in Bogotá, I decided to move to Medellín. It was exactly like that, maybe not as a major investor, but that attitude, that paisa pride.

Cristina Zambrano Restrepo: Paisa pride, yes, I was just going to say.

Finance Colombia: Exactly, exactly. Like my wife, who’s paisa, when we’re abroad and someone asks her, “Are you Colombian?” she says, “I’m paisa.”

Cristina Zambrano Restrepo: More than Colombian, I’m paisa.

Finance Colombia: What is the “secret hogao” of ACI Medellín? Because regardless of the government in power, regardless of what happens under your leadership, and even looking at the long term, what is the secret sauce behind the success ACI has had as an investment promotion agency? You have a strong global reputation in the FDI space, Foreign Direct Investment. You, as director, as someone who knows how the internal plumbing works, what is the key to the success ACI has achieved?

Cristina Zambrano Restrepo: Well, I think without a doubt it’s our long-term planning. It’s a vision we have for the city, a vision for the territory—a clearly defined commitment. Every time we come in, there’s no need to reinvent things; we need to keep working on what already works. We have a technical team, and this is something I really want to highlight: this is a highly technical organization. While it does, of course, depend on electoral and government cycles, it has a well-trained staff that has been working in these areas for many years, and thanks to them we’ve been able to maintain the stability this institution has. So I would emphasize that, in addition to what you mentioned about paisa pride—which is an identity that characterizes all of us from Medellín. We truly like to see our city doing well; we fight for it, we defend it, we work for it. That paisa pride ensures that everyone who passes through this institution clearly understands the vision and works toward it, regardless of how long they remain here.

Finance Colombia: Yes, it’s true—you have a world-class team, so I know they make your job much easier. Thank you very much for your time; it’s always an honor to see you and to speak with you, and know you can always count on Finance Colombia for anything.

Cristina Zambrano Restrepo: Thank you as well, truly, for being here and for always supporting ACI Medellín. Indeed, you and Finance Colombia have been great partners for us in continuing to share and convey all the news that’s happening.

Finance Colombia: We will, thank you.

Investment capital was primarily concentrated in the technology, creative industries, infrastructure, and commerce sectors. Major sources of this investment included the United States, Colombia, Brazil, and France. To promote further capital attraction, ACI Medellín hosted two investment rounds: one focused on traditional sectors such as agribusiness, energy, health, infrastructure, and technology; and a second round concentrated on the audiovisual sector, executed in partnership with the Film Commission of the Medellín City Hall. These efforts were supported by collaborations with the Mesa de Inversión de Antioquia and the Medellín Chamber of Commerce for Antioquia.

Several companies announced new investments or reinvestments in the city, including Renault Sofasa, TaskUs (NASDAQ: TASK), iQor, Accenture (NYSE: ACN), Poma, Rivana Business Park, Softserve, and DHL (XETRA: DPW).

Medellín went from $3 million USD in international cooperation in 2024 to a projected $8 million USD  with projects in the process of closure before the end of the year.

Cooperation Funding and Global Network Engagement

The city also reported a projected increase in international cooperation funds, with management expecting to close 2025 with nearly $8 million USD in projects, up from $3 million USD managed in 2024. This growth was partially driven by alliances with philanthropic organizations.

ACI Medellín collaborated with several key foundations to support social and environmental initiatives outlined in the city’s Development Plan. Noteworthy projects include a partnership with The Carter Center, which provided $50,000 USD and technical assistance to the Secretary of Women’s “Informando a las Mujeres, Transformando Vidas” project, aimed at strengthening gender-focused communication strategies for women caregivers. Other philanthropic entities involved in supporting various projects include Bloomberg Philanthropies, the Hilton Foundation, and Sparkassen Stiftung from Germany.

Medellín maintained its engagement in global city networks to advance sustainable development objectives. From 2024 to 2025, the city participated actively in platforms such as C40 Cities Climate Leadership Group, Mercociudades, CIDEU, and Metropolis. This participation led to the receipt of cooperation grants, training scholarships for municipal staff, and technical assistance for specific projects, such as Primavera Norte, which received support through the C40 and GIZ networks. As a member of the C40 Steering Committee, Mayor Federico Gutiérrez participated in global network activities, during which projects like the Corredores Verdes program, which the city credits with contributing to a 2 °C reduction in urban temperature, were presented.

Medellín Mayor Federico Gutierrez (photo courtesy of the mayor’s office)

Recognition and Diaspora Strategy

In recognition of its social policies, the city’s School Feeding Program (Comedores Escolares) received the Milan Urban Food Policy Pact award in the Social and Economic Equity category. Medellín was one of six cities selected from 173 applicants globally, and the award included a financial contribution of €20,000 EUR. The award recognized the program’s integrated strategy, which focuses on providing nutritional food for children, strengthening food security, and supporting purchases from local producers.

Additionally, the Sos Paisa Network was relaunched in 2025. The initiative focuses on connecting the Antioquian diaspora with opportunities in Medellín, specifically aligning their knowledge with local Science, Technology, and Innovation (CTI) projects. This renewal effort aims to leverage the global scientific and academic diaspora for local development.

According to Cristina Zambrano, Executive Director of ACI Medellín, the figures confirm a growing international engagement. The executive noted that from 2008 through 2025, the agency has managed $4.084 billion USD in foreign direct investment, generating an estimated 44,000 jobs in the Aburrá Valley, in addition to $134 million USD in international cooperation.

This balance was presented during the Medellín 2025 Investment Roundtable, a meeting led by ACI Medellín and the Medellín Chamber of Commerce for Antioquia, with the support of ProColombia, Ruta N, ANDI del Futuro, and the Government of Antioquia. In this space, 27 local and regional companies held one-on-one meetings with national and international investment funds in search of capital that allows them to grow, innovate, and consolidate their expansion. Beyond attracting new companies, this strategy strengthens the brownfield model by connecting companies already established in the territory with sources of financing to scale their operations and generate a sustainable impact.

The city has reported 18 new foreign direct investment projects and more than 8,000 jobs projected in 2025. Photo credit: ACI Medellín.

In the most recent Investment Roundtable organized by ACI Medellín and the Medellín Chamber of Commerce for Antioquia, 27 businessmen and 19 investors participated, generating 127 business appointments. As a result of this connection exercise.

“The results of this semester ratify that Medellín is a reliable partner for investment and cooperation. We managed more than USD 168 million and nearly 8,000 jobs, connecting international capital and development finance with high-impact public and private projects in our region. From ACI Medellín, we are carrying out a determined work of global positioning so that the city continues to be on the map of international investment. Cases such as those of Accenture, Recurly, or Health Prime, and projects such as Primavera Norte, which received technical assistance from the C40 program, are proof that internationalization transforms territories, strengthens trust among all actors in society, and is reflected in a better quality of life for our people. Our commitment is clear: to work in an articulated way so that Medellín is increasingly competitive, generates sustainable social development, and multiplies opportunities for those who inhabit it,” said Cristina Zambrano, executive director of ICA Medellín.

Ruta N, a strategic ally of ACI Medellín, has been key in strengthening the city’s science, technology, and innovation ecosystem. In coordination with ProColombia and the ACI, it facilitated the establishment of 10 new companies in the STi sector from the United States, Ukraine, Argentina, Chile, and Colombia, consolidating Medellín as a competitive destination for technology-based companies.

At the Investment Roundtable, more than 27 local and regional companies met with 19 national and international investors to raise capital to boost their growth. Photo credit: Loren Moss.

Through the Medellín Venture Capital program, Ruta N builds local and foreign investment capacities, mapping and attracting more than 200 regional funds interested in investing in the city, training more than 100 new venture capital investors, structuring new investment vehicles, and creating an active investment community with angel investors. Family offices, corporates, and funds. In addition, Ruta N, in alliance with Bancoldex, has invested $3.2 million USD in an investment fund in the city, which in total will make around $10 million USD available to 30 FinTech startups in the region.

Ruta N, in addition to supporting investment rounds with the ACI, also promotes the connection between investors and startups through Startia, the brain of the city’s entrepreneurship ecosystem, with more than 350 technology-based ventures mapped and more than 300 investors, where effective connections can be generated organically. From an international point of view, Ruta N has great allies such as the Royal Academy of Engineering and the government of the United Kingdom, with which in 2025 it allocated £200,000 GBP to the training and scaling of entrepreneurs in the city.

ACI Medellín also highlighted key advances in international cooperation. In this first half of the year alone, Medellín managed $2.58 million USD in technical and financial cooperation, with projects that address issues such as financial education with a gender approach, circular economy, data for public management, and strategies to combat hunger. The city was also selected for international programs such as the City Data Alliance and Bloomberg Philanthropies’ Mayors Challenge 2025.

Photo credit: ACI Medellín.

Htwenty Capital is one of those early stage venture firms. During a recent event organized by the City of Medellín’s investment promotion agency, ACI Medellín, Loren Moss, executive editor of Finance Colombia and Cognitive Business News was able to spend some time with the investment fund’s Platform Lead, Jimena Cortés to discuss the unique challenges—and opportunities that Colombia presents when it comes to funding and growing high potential startups.

Finance Colombia: I’m here with Jimena Cortés, who works with HTwenty Capital. What’s your role with HTwenty Capital?

Jimena Cortés: Sure, thank you very much for the invitation. I’m an investor for Spanish-speaking LATAM in HTwenty, and I also lead the platform efforts, that is, all the efforts we do post-investment for the portfolio.

Finance Colombia: Great, so HTwenty, my understanding is that it’s an early stage –it focuses on early stage seed, pre-seed, maybe Series A investments, really gets in early in the game. And then, you know, I did a little bit of homework, and you guys specialize in working closely, actively, with investors. Kind of holding their hand, serving a little bit more, you know, almost along the incubator route. Is that correct?

Jimena Cortés: Yes, in part, we’re an active fund, we’re super hands-on with our portfolio. A big, important part of our investment thesis is how we can generate value for our portfolio. That’s correct, we also enter in super early stages, it includes pre-seed also; pre-seed, seed, and pre-Series A is our sweet spot. And yeah, we have a really important network of advisors, super specialized in product, or on B2B acquisition, or technology. And we also have a playbook of partnerships and different stakeholders to help our portfolio, but we also strategically work along with them super closely.

Finance Colombia: Now, one interesting thing I noticed is that you guys have offices here in Colombia, in Mexico City, and Miami. You guys chose that geography as opposed to, let’s say, the traditional Silicon Valley or Boston or New York. Why?

Jimena Cortés: Yes, I think there are two answers to that question. The first one is that our thesis is a cross-border thesis, so we are super focused on creating this cross-border network, so companies from Colombia, Argentina, and Mexico can go to find operations in the US, but also from Colombia and Argentina to Mexico. So that’s an important part. And second, the ecosystem in Miami it’s growing in a really interesting way; it’s not the traditional Silicon Valley ecosystem, but we have a lot of second-time or third-time founders creating companies in Miami. So the ecosystem is getting pretty interesting, so we are making a bet on the Miami ecosystem.

“We invest in early stages. So basically, our sweet spot is pre-seed, seed, and pre-Series A.” – Jimena Cortés

Finance Colombia: Great. So speaking of here in Colombia, you’re Colombian, right?

Jimena Cortés: Yes, I’m Colombian.

Finance Colombia: So this has to be, you know, a point of personal pride that international venture capital firms are taking notice. What are the unique challenges compared to other Latin American locations like Mexico or Brazil? What are the unique challenges that Colombia faces when it comes to attracting venture capital?

Jimena Cortés: Yes, I think Colombia has done a pretty good job because we have a really good talent, technical talent, that is aiming to build interesting things. I think what’s more challenging is the exit ecosystem. Colombia has a small public or IPO system, so we have to look for other types of exits that are more in the private sector, and that’s how we attract these exits. Like in the US, there is a huge market on the M&A side. So I think the challenge here in Colombia is how we are going to exit to make the returns we expect, and how we also get into reasonable valuations.

Finance Colombia: Good point. I think that when we look at, for example, Colombian-listed companies, they tend to list –You know, I remember Tecnoglass, for example, a Colombian company. Now they’re based in Miami. They went from BVC in Bogotá to NASDAQ, then from NASDAQ to the New York Stock Exchange. When we look at the multilatinos, like here in Medellín, we have Grupo SURA, Bancolombia, Ecopetrol, and they’re all listed on the New York Stock Exchange. A lot of them also list in the BVC, maybe more for patriotism, I think, than anything else. So, because of that, it kind of precludes, to a large degree, going to a traditional domestic IPO because the capital markets or the demand for the securities aren’t there. Have you seen any companies, aside from obvious ones like, let’s say, Rappi, have you seen companies that have done international IPOs, that maybe it might be a company with Colombian roots, or other companies in your portfolio, Mexico, or elsewhere, that have gone the IPO route? Or is it more of, let’s look and get a strategic acquisition or private equity, or some other type of exit?

Jimena Cortés: Yeah. In this instance, we have not yet had any company that has made an IPO, either on their local market or in the US. We are looking more for private, targeted acquisitions strategically.

Finance Colombia: Now, looking at it from the entrepreneur standpoint, what type of venture, what type of founder, what type of entrepreneur should consider approaching HTwenty, and at what stage in their project?

Jimena Cortés : Sure. I think in early-stage VC, the founder and the founding team are the most important thing. So we focus on founding and building long-term relationships with these founders. We look for founders who are super technical, who have a lot of experience in the segment of the market they are approaching; we also value a lot the networking they can generate on the problem they are solving, and the obsession and passion for that particular problem, so they want to solve it. That passion that they feel about it.

We invest in early stages. So basically, our sweet spot is pre-seed, seed, and pre-Series A. We normally make tickets between 500,000 and 1.2 million. That’s our strategy. We look for equity ownership between 8% to 12% in these companies to build our long-term equity ownership for the ramp-up and the exits.

We have three main sectors we like to invest in. The first one is FinTech infrastructure. In LATAM, we have been focusing a lot on FinTech infrastructure because we see there’s a lot of gap in the technological infrastructure we have. For example, we invest in acquiring processing, in cross-border payments, in remittances, in collections, and public services. So we are going deeper into the infrastructure on the FinTech side. We think that through this infrastructure, with technology in this infrastructure, we can permeate the technological ecosystem in the region.

Second, we invest in verticalized SaaS, super focused on a particular value generation, like we have in restaurants, we have in inventory management, and other types of SaaS.

And AI. I think AI, of course, is a trending topic, but we are trying to understand how AI works as a backbone in the products and operations of our companies to make it more efficient and more productive. So with 30 people, you can do what you did three years ago, five years ago, you did with a hundred people.

Finance Colombia: Absolutely. And, you know, you’ve been generous with your time. It’s starting to get hot, the sun’s coming up here, I see that. I don’t want us to melt. But you know, I was looking at your website… You guys have some success stories that you’re pretty proud of that are still, of course, in the developmental stages. You mentioned the restaurant company that has restaurant SaaS software. Just mention maybe two or three of the companies that you guys have in your portfolio that are doing interesting things.

Jimena Cortés: Sure. For example, we have Felix Pago. That is a company that has recently closed its Series B with QED as a lead investor. So they have been doing really interesting things, growing at a really interesting pace. So we’re super excited about Felix Pago. We have also, from the Colombian side, Supra, which is working on cross-border payments and was the first investment made by Citibank New York here in LATAM. And we also have Akua, who is a founder from Medellín. They are building really interesting things in acquiring processing, and they closed the biggest pre-seed round in the region. So we’re excited about all the companies.

Finance Colombia: Congratulations. Much continued success, not just for you guys at HTwenty, but obviously for the Colombian entrepreneurial ecosystem. And what’s your website?

Jimena Cortés: Our website is www.htwenty.vc.

Finance Colombia: Thanks so much.

Jimena Cortés: Thank you.

“We are thrilled to expand our footprint in Medellín, a city known for its innovation and talent,” said Rubén Orozco, Vice President of Operations at TaskUs Colombia.

“At TaskUs, we are deeply committed to the growth and development of our people. Our investment in learning goes beyond current roles—we equip both emerging and established leaders with the skills needed to advance in their careers. Additionally, we offer on-demand online learning resources, allowing employees to grow at their own pace, anytime and anywhere.”

“The opening of this new operations center by TaskUs reaffirms Colombia’s positioning as the Country of Beauty and a competitive destination for knowledge-based services,” stated Carmen Caballero, President of ProColombia.

“The high availability of bilingual, skilled, and adaptable talent has been key for global companies to choose Colombia as a strategic ally for growth.” María Fernanda Galeano, Secretary of Economic Development of Medellín, added,  “TaskUs’ new operations center is highly significant for Medellín. It reflects a multinational company’s trust in our city and its people. It also reinforces Medellín’s appeal as a destination for international investment and contributes to employment, economic growth, and strengthening our entrepreneurial ecosystem. We welcome TaskUs’ expansion.”

Luis Barreto, Vice President of Operations for TaskUs Latin America, shared, “Our purpose is to inspire, energize, and revitalize our teammates both at work and beyond—while having fun. We’re excited to welcome new team members and support their development, helping more ‘paisas’ discover what makes working at TaskUs truly ridiculously good.”

Cristina Zambrano, Executive Director of ACI Medellín, commented, “We celebrate TaskUs’ confidence in Medellín and their decision to grow their presence in our city. This expansion confirms that our district is ready to remain a competitive destination for foreign investment and a strategic partner for companies committed to innovation, talent, and sustainability. Every new job created is a chance to transform lives and strengthen our local economy.”

Since entering the Colombian market in 2021, TaskUs has established operations in Cali, Barranquilla, and Medellín, employing more than 4,000 highly skilled professionals who primarily support clients in the United States across industries such as healthcare, e-commerce, technology, tourism, and retail.

Currently, the company is hiring bilingual talent in Medellín. Interested candidates can explore open positions through TaskUs Colombia’s official social media accounts:@taskuscolombia, or via their careers website at https://www.taskus.com/careers/

Photos © Loren Moss

The executive director of ACI Medellín, Cristina Zambrano, said that “in 2024, we achieved milestones that position Medellín as a global leader in innovation and sustainability. We reestablished strategic relationships with countries such as South Korea, Switzerland, and Singapore, and reaffirmed our leadership in networks such as C40, where we promote priority climate and energy projects for the city.”

The technology sector led these achievements with 56% of investment projects, consolidating its position as a driver of development for Medellín. Companies from other parts of the world continue to show their confidence in the city.
Furthermore, companies from countries such as the United States, Germany, Canada, Chile, and Mexico were attracted by its human talent, its articulated ecosystem, and its strategic location.

In international cooperation, $3 million USD was secured to develop 20 projects with Germany and Japan, among others, which focused on sustainability and social and economic development. This commitment was reflected in initiatives such as implementing Urban Protected Air Zones and energy efficiency in public buildings, funded by the C40 Network, with an investment of $250,000 USD.

2024 also marked Medellín’s return to global leadership, with the commitment to the recovery of the Center for the Fourth Industrial Revolution, alongside the World Economic Forum, and the district’s return to the C40 Steering Committee. In addition, the city hosted the World Data Forum, a unique event that attracted more than 3,000 visitors from around the world.

In the educational field, a partnership with Rockwell Automation and the Ministry of Education enabled technology awareness sessions to be held for 3,050 students in Delaware public schools, fostering their interest in the technology industry. On the other hand, the Medellín and its international allies event brought together more than
150 international leaders, business leaders, and industry representatives to learn about the District Development Plan, promoting strategic projects for the city.

With these achievements, Medellín not only strengthens its leadership in innovation and sustainability but also establishes itself as a reliable destination for international cooperation and investment, projecting itself toward growth and social transformation.

Photo credit: City of Medellín.

This agreement, managed through the Medellín Cooperation and Investment Agency (ACI), aims to promote financial education through counseling for women entrepreneurs, microentrepreneurs, or those in vulnerable situations, promoting their access to financial services and strengthening their participation in the city’s productive development. This agreement strengthens the scope of the Decididas project, run by the Secretariat for Women, which will train 2,700 women, supporting them from the completion of high school or in accessing economic opportunities that guarantee their autonomy through employment or entrepreneurship.

This agreement, managed through the Medellín Cooperation and Investment Agency (ACI), aims to promote financial education through counseling for women entrepreneurs. Photo credit: Medellín Mayor’s Office.

This is also the district bank’s commitment to education and financial inclusion. Through this strategy, 10,000 women will be impacted during the four years. Of these, 5,000 will receive training in rights, decision-making, personal finance, and digital skills. The other 5,000 will have access to affirmative action measures to complete their secondary education and job training.

This agreement represents a key step in consolidating Medellín as a city of opportunity for women, ensuring effective tools for their economic independence, and promoting their active participation in the social and productive growth of the region.

Photo credit: Medellín Mayor’s Office.

Today there are approximately 12,000 hotels and 120,000 Airbnb hosts in Colombia according to Cotelco and Asohost respectively. In December 2023 alone, Airbnb alone recorded more than $87M USD in payouts in a single month to property owners across the country. In 2024 it is likely that Airbnb will pay out nearly $1billion to their Colombian hosts (AirDNA). President Gustavo Petro called tourism “one of the largest drivers of economic well being”, ex-President Ivan Duque called tourism “Colombia’s new petroleum”. Indeed the country has come a long way since 2008.

My own humble beginnings started with a single Airbnb listing in 2010 when Airbnb first opened the market in Medellin. I was literally a pioneer. One listing became 2, then 3, and today more than 500, making my company Casacol the largest Airbnb operator in Medellin. Adding this to our 350 room hotel operations makes us the largest tourism operator in Medellin. More than 250 foreign investors have followed me and the international promotional activities of Procolombia, ACI Medellin and the Ministry of Commerce to help me build and acquire more than $100M USD in Medellin real estate. We sell almost 20,000 rooms per month only in the city of Medellin and support almost 300 direct full time jobs, and hundreds more indirectly. The growth of my company has been nothing but meteoric in line with the growth of tourism in Medellin and Colombia.

Minister German Umaña and Procolombia President Carmen Caballero recently presented a showcase for foreign investment in Colombian tourism infrastructure at the prestigious Raffles Hotel in London which charges guests $1,000 a night. The topic was sustainable tourism and this is the question that I think all foreign investors and local participants have in mind; is tourism quantity and quality in Colombia sustainable? Recently I have had my doubts.

We are ready to work collaboratively with policy makers for a brighter, more sustainable future for all 50 million Colombians with responsible and sustainable tourism as our core values.

In the last 5 years and especially exiting the COVID period, I have been a front row witness to a precipitous decline in tourism quality in Medellin. Our colleagues in Cartagena have reported similar concerns. Social media overflows with content that promotes what can be called international dating at best and just plain sex tourism more appropriately. Not to mention foreigners who wish to obtain cheap cocaine or experiment with locally manufactured synthetic substances can freely indulge with impunity. Colombia has recently been more and more a meeting place for the supply and demand for low quality tourism and their counterparties. 

On March 28, 2024, we too became victims when an Aribnb tourist was reported to police with 2 underage victims of presumed sexual abuse. Our property was smeared with the association to the accused despite our strict policies and best efforts being thwarted by the individual. To add insult to injury, politicians suggested that property could now be subject to asset forfeiture, a risk that every investor in Colombian hospitality small and large now has to evaluate.

Colombia is indeed at an inflection point with respect to its reputation in the world. Medellin has recently invoked a brand for the city “aqui todo florece,” and Colombia “the country of beauty.” But responsible tourism in Colombia can start with policy makers inside Colombia collaborating with governments around the world. There are more than 850,000 registered sex offenders in the United States visible in public databases. The Angel Watch Center from the Department of Homeland Security is designed to alert foreign law enforcement about Americans convicted with sex crimes that might be traveling to their countries. Colombia doesn’t yet participate in the program. Countries like Canada work with the US on reciprocal programs like NCIC/CPIC to ensure that any criminal record (of any kind) registered on a citizen of one country means automatic denied entry into the other country. Australia and the UK have similar programs. Colombia would be wise to explore cooperation with those governments to ensure those of us in the private sector never have to deal with criminal tourists in the first place.

But this is not to mention the true victims in this story. How can we overlook the deep social problems that allow for human trafficking in the first place? Where are the parents, where are the grandparents and who are they? What kind of conditions did these children grow up in? What kind of education did they have, if any at all? Were they caught in the vicious cycle of Colombian poverty that the OECD reports takes 11 generations for a Colombian child born today to escape? This is where Colombian policy makers have some deep soul searching to do.

But tourism can be part of the solution. Tourism is a labor intensive industry that benefits every single socioeconomic strata. The workers needed to pour the cement, lay the bricks, the engineers and architects who design the hotels and restaurants where they eat and drink. Every taxi and Uber driver which shuttles the tourists to and from museums, parks, beaches, attractions. The cooks, waiters, baristas. To the maids, receptionists, security guards who keep them safe while they sleep. And the entrepreneurs large and small, local and foreign who risk their capital to develop the infrastructure to bring them to Colombia in the first place. If tourism in Colombia (2% of GDP) rises to meet only the level of Spain (12%) there would be millions of Colombians lifted from poverty into stable, decent jobs in the formal economy.

Brad Hinkelman

I think I speak on behalf of every foreign investor, every hotel owner in Colombia, every Airbnb host when I say we are ready. We are ready to work collaboratively with policy makers for a brighter, more sustainable future for all 50 million Colombians with responsible and sustainable tourism as our core values. But please don’t threaten our capital, our private property. Please don’t break the social contract between the private and public sector based on the criminal action and intent of a few. Colombia can define its place and image in the World, and transform its society with a robust tourism industry. But only through a national tourism policy that protects its citizens, investors, and tourists alike.

Brad Hinkelman is the founder and CEO of Casacol.

As the acronym suggests, the Agency of Cooperation and Investment seeks to not just bring more revenue to the city — but to build bridges and encourage meaningful, lasting private/public partnerships that can help Colombia’s second largest city achieve a wide range of goals economic, social, development, business, and cultural goals.

To find out more about the agency’s objectives over the next four years, Finance Colombia Executive Editor Loren Moss got the chance to sit down with Zambrano.

Watch the full video conversation above or enjoy the English transcript below to learn more.

Cristina Zambrano, executive director of ACI Medellín. (Credit: ACI Medellín)

Loren Moss: You’re the new director of ACI Medellín, but you haven’t just begun. I mean, you’re very experienced already in the administration of the municipality of Medellín. Tell me a bit about the history, because, if I’m not mistaken, you started as ‘edil’ [public servant] of El Poblado in Communa 14, right?

Cristina Zambrano: That’s right. That’s right, Loren. Well, first of all, I want to thank you immensely for being here. Just like you said, I think this has already turned into a space that is very yours. And we truly thank you, from ACI, from the entity, from the district. Because it’s absolutely key and important for us to maintain a very close relationship with those great allies of the history and heart of this entity.

So, well, I’ll tell you a bit about myself. Indeed, “Paisa,” very “Paisa.” I was born, raised, and have lived almost my whole life here in this city. I say “almost my whole life” because I was abroad for a year and a half, living in London and Edinburgh. But for the rest, I have almost always worked for this city. I started my career path as a lawyer. I graduated from law school and began working at Bancolombia.

I think I was very focused at that time on the private sector, and it was the clearest path for me to follow my profession. However, while I was working at Bancolombia, my heart started beating harder for the public sector.

I remember one of the first conversations I had. My mom really belonged to the public sector. She was super, super close to the public sector, and she worked at the Compensation Fund, at public companies in Medellín, at SENA. So I believe she has always instilled in me a great love for what’s public. And the first conversation, with me working at Bancolombia, was with a person who was at the time the private secretary of the mayor at that time, David Escobar.

David Escobar was, at that time, like I mentioned, a private secretary, and the head of COMFAMA. He told me that he had also begun as an ‘edil’ in Communa 14, and asked why I wasn’t diving into public and political practices. And I said, “Hey, that’s interesting. I can continue working at Bancolombia, but I could complement a bit my work in the productive sector, with the public side.”

So that’s how I got started, and at that time I reached out and they introduced me to Mayor Federico. Federico was going into the Council of Medellín, and I accompanied him from Communa 14 as an ‘edil.’ So let’s say I started a journey that went from the public to the private, then went back to the public. But I’ve always said that my heart is very focused on the public world. And it’s been a wonderful trajectory, because I’ve had the best of both worlds, and I believe that throughout my whole professional career, I’ve come to realize how valuable it is to work with both sectors hand in hand. I’ve never been to the academy. But I think the other conversation that I’m missing is one to really understand the transformation process that this city has, which are the three players in addition to civil society.

Loren Moss: For me, with the eyes of a foreigner, something I’ve always seen as Medellín’s success was, First of all, the civil spirit that the ‘paisa’ pride has, the pride that the citizens have. Also, Medellín’s got a secret sauce. There’s been some hiccups recently, but historically the private sector has worked hand in hand with the public sector.

Here in Medellín, we’ve got some great powerhouses. You already mentioned Bancolombia. Obviously SURA, obviously Nutresa, Grupo Argos. And those are the great powerhouses of not just Medellín, but Colombia. But aside from that, aside from simply having this kind of source of income, and salaries, and taxes, businesses have had a sense of belonging, which has always supported the public sector. And  

Something that fascinates me about Medellín is that ‑- not only in Colombia, but I have experience in many countries in Latin America, the Caribbean — and normally there’s a ‘Don,’ or a ‘patrón’ or a powerful family, or two.

As are the Garces of Monterrey, Mexico. Its not that they’re bad guys, bu it fascinates me that, in Medellín, that doesn’t exist. There are no ‘caudillos,’ no chiefs. It’s like, there are no families that have more than 1% of Bancolombia’s shares, of SURA’s, and that fascinates me.

So, tell me about the importance, for you who have gone through it, of bringing back that tradition of cooperation, including here as an Agency of Cooperation and Investment (ACI). In Cali, it’s West Pacific. In Bogotá, it’s Invest in Bogotá. But here it’s an Agency of Cooperation and Investment. Tell me about its importance and your goals for the next 4 years, or 3 and a half.

Cristina Zambrano: 3 and 10 months [Laughs.]

Loren Moss: Exactly! Returning to that topic, and besides that, what your main objectives and goals are in this position

Cristina Zambrano: Alright, great, Loren. So, just like you said, Medellín has had a big charm, because, well, let’s not forget that not many years ago I was here ‑- I believe all of us were — when Medellín was the most dangerous city in the world. And by most dangerous in the world I mean in the highest indexes of the most terrifying cities it would reach around 160 deaths per every 100,000 inhabitants. Medellín reached 380 deaths per every 100,000 inhabitants. I mean, it was a city that, in the words of many people from that time, they would basically say, “It’s a failed state. It’s a failed city.”

How did we manage to recover in what seems to me such a short amount of time? Because this was a very drastic transformation that Medellín has undergone, like I said, in what seems to me like a short time. And the only way we made it to where we are today is the teamwork, absolutely determined, of all the actors, right? I believe we were all struggling with such great difficulties. We couldn’t go any lower. We definitely had to look up. We came together and started working hand in hand. And let’s say in this entity, as such, that’s completely clear and it shows on the day to day and through our tasks, in how we manage all the projects the district of Medellín has, or its metropolitan area, which, as you know, CITRA works for its associates, and its associates are the district.

As a central entity, various public companies from Medellín, and the metropolitan area, which are all the other municipalities from the area. So, that’s how we, in our day-to-day lives, always have to work in favor of those strategic projects, which impacts all of us as an area — because I’m going a bit outside of Medellín — and it’s how we look for strategic allies, capable of carrying out those strategic projects that we have, right? That’s what we do. And we indeed, this entity is already 22 years old. I had the opportunity when we were in Federico’s previous administration, to become a part of his board of directors. So I hold it very close to my heart. At that time I was working as the director of public-private alliances.

And at this moment let’s say that it’s on a different field, since this is a much more international matter, right? The other one is work with the local or national productive sector on some specific infrastructure projects and other matters. But in this sense, it’s working with international allies, and it’s been absolutely wonderful what we’ve come across in the less than 2 months that I’ve been here. That’s how those networks, so well established, based on trust, have been very close to us for many years. Each time there are more networks that want in, and all the networks want to strengthen again some bonds of trust that perhaps were starting to deteriorate. But everyone is still here, and they still believe in this city and its development.

So we work with all those allies. We keep attracting investments.

As for real investment, I believe at the beginning this entity was set up when Medellín needed to change the face it had for the world. To change its image. And that job was so wonderfully done. So much so that now the investment comes on its own, yeah? I believe that’s a magnificent reality that we need to understand, and it’s that back then we had to go to convince and bring in these investors, sell them this city, tell them how great we were. But at the moment the reality is that investment comes more so on its own.

Now the world’s got its eyes set on Medellín. And I’ve been to a marvelous event with ProColombia, which is our natural ally in everything related to the attraction of investments. I was in Bogotá last week for two days of a super strategic work, with each one of the hosts they’ve got around the world, and everyone was telling me, “Sell to Colombia,” or “Colombia needs Medellín to be able to sell itself.”

It’s amazing how in the portfolio of how we sell Colombia, some regions have to appear in that map no matter what, because people immediately open their eyes and understand it. And that’s our job as ACI, as an entity. It’s about highlighting all those things we’ve been doing right, showing them and handing them over to all those allies, because they’re our ambassadors around the world. They help us attract investment, and I believe this city is now very well-established and clear on the fronts on which they’ve been working, doing good work. It’s been bearing fruit wonderfully, so we need to keep strengthening that. I’ll point out, for example, the Industry 4.0. No doubt, Medellín is already a district of science, technology and innovation.

Loren Moss: It’s known worldwide for that. And something you said fascinates me: last night I was having dinner with a US Embassy officer, and he was telling me that the embassy is based in Bogotá. But that all of them, if they could, would leave the embassy empty and move out to Medellín. Don’t you agree?

Cristina Zambrano: Yes. [Laughs.] That’s how they are…

Loren Moss: And there is no consulate here. There is one in Barranquilla, I think. Or on the coast. I’m not sure where, but what’s certain is that everyone wants to run away and move to Medellín.

Cristina Zambrano: That’s right.

Loren Moss: And it has its fame, but even then it’s very important to keep selling the city. It’s key because there’s a lot of competition.

Because there are other agencies that promote investments, there are other places. There are others like Costa Rica, which is also really well-established in the IT field. For example, there are already countries in the Caribbean, such as Jamaica, which is famous for its call centers, and Trinidad, in finances.

So, what is the importance of continuing to sell Medellín? Or continuing to attract, or to have incentive programs? Or, aside from that, simply to tell the story, because even though Medellín has already got fame, it’s not like everyone in the world knows. Some people are living under a rock or something.

Cristina Zambrano: Totally.

Loren Moss: But there are people thinking, “Yeah, OK, we know about Medellín. But we need to do our due diligence, we need to analyze. So, tell me about the role, the part ACI Medellín plays in that, and your vision regarding what you want to achieve by, I don’t know, in 2028. If we look back, in retrospect, to you, to define that this has been a success, what are the things you want to achieve?

Cristina Zambrano: Great. Well, indeed I think what you’re saying is true. There are so many cities in the world. Like I’m saying, each one of us has a different calling, and undoubtedly, each one has to continue strengthening, or pushing forward that name and that number of strategies that Medellín has. Medellín has a huge competitive advantage, and that is its institutionalism. Medellín as such is the second biggest public conglomerate in Colombia, after Ecopetrol.

Right? This means that when a company, an investor, a cooperator comes to us, they’re coming to the second biggest public conglomerate. We have a series of companies, because we’re talking about, I think, we’re over 35 companies taking part in the conglomerate. Each one with a role, each one with some kind of support that could be provided to that investor or that cooperator, each one with different opportunities. So, without a doubt, that’s an advantage we have. More so from the private standpoint, obviously, the work with the chambers of commerce.

The work with, for instance, compensation funds. Which is a figure that doesn’t exist in the world. An investor doesn’t yet understand so clearly why they have to provide that 4%.

Loren Moss: I can’t translate it! They are like well, “What’s ‘Caja de Compensación’?” “How do I explain it?

Cristina Zambrano: Compensation [Laughs.]

Loren Moss: What’s worse is that I’ve never seen this concept outside of Colombia. It’s like, I’m affiliated with COMFAMA. And they are like, “It’s not a syndicate?””No, it’s not a syndicate.” When I try to explain it to foreigners. “Well, it has like an amusement park, with a roller coaster, and it helps you buy a house,” and people are like, “What?”

Cristina Zambrano: [Laughs] And healthcare, and education, and they provide courses…

Loren Moss: And the hardest one is ‘cesantías’.

Cristina Zambrano: Yes.

Loren Moss: There’s no word, and it’s not translatable. 

Cristina Zambrano: Yes.

Loren Moss: “And okay, what is ‘cesantías’?” It’s like a pension, but it’s not a pension…you use it like, when… [Laughs.]

Cristina Zambrano: Yes, yes, it’s complex. But see, that’s important, it’s interesting, because that private sector is several organizations, like I’m telling you, each one with a strategic role, and we are all absolutely interconnected with each other. And that’s very appealing to a future investor. And the investor knows they’re settling in a territory that’s not inventing many things. That is improving some with certainty, and that has many challenges to improve. But it is not making things up. And here each of us presents this ecosystem, and in one way or another people feel more at ease, like “Oh, these people are like, prepared.”

Well, as for what you were saying, I believe that here, understanding that we’re going to have some indicators in the development plan is key. Indicators that throughout many years of this entity have been very standard. Each time we need to increase them more, right? We start from a baseline and the idea is, obviously, to improve and surpass them. So, we have an amount of attraction of investment, which, right now is about $1,250 million USD, which is still under discussion, because you know that until we get the development plan approved, we still have two months left to discuss it, well, we’re not sure how the indicators are going to turn out.

We have an amount of attraction of cooperation, right? So we have no choice but to work for those purposes. But I think, answering your question: By going a bit beyond the indicators of a plan. As I was saying, this entity has been accomplishing them for many years, and let’s hope of course that we will be capable of accomplishing and surpassing them. But I believe here we have some really big goals, and it’s how we’re capable of, well, let’s say this entity when it was founded 22 years ago, like I told you it’s about to be, it was formed over a set period of time of 25 years. Therefore in the year 2027, this entity is to be reassessed, no matter what. Right? It’s obligated to be reconsidered, to take a look at what it’s been doing right, what could be improved, what needs to change. And it seems to me that this has been an entity that’s been absolutely key, counting with a very strong corporate government, because it is in charge of two really complex matters related to allies that are very much based on trust. It’s just that one-

Loren Moss: True.

Cristina Zambrano:  It doesn’t draw in a cooperator overnight. Cooperation is a long-lasting affair. Cooperation is, just to give you an example, today we signed an agreement with public companies from Medellín. And the government of Copenhagen. This cooperation that was materialized today in the signing of an agreement, had been discussed for three years. So these very long-term relationships, or relationships with investors, which we’re already discussing; if they don’t count with an ecosystem, from the institutional point of view, with legal security, tax security, stability in many aspects, well, they’re simply not going to be settling here.

Those are two matters which are so key that the corporate government becomes way too relevant. This entity must be protected, right? So, because we have that goal or challenge, so big that it’s already been established for 2027, of revising this entity, I believe we need to start thinking about that starting today, right? About what we will become. About what Medellín needs. Over the course of 22 years, it has truly changed some things. Like I’m telling you, this entity was born with a purpose. It kept changing. Some additional matters started to be included according to how the world has been moving. So, at the moment we’re dealing with a very complex topic, and I don’t know how is it going to end, because I think we’re just starting to think which legal form this entity should have in order to continue being stable in its corporate government through the years. What strategic projects does it need to be focusing on to not be thinking of the city every four years, but instead long, long-term?

I’m telling you, both matters are very long-lasting. This number of matters turns us all into a work team. And I believe that as a district, as a conglomerate and as a metropolitan area, it makes us think of this entity as absolutely open to having whatever discussions are needed. With the private sector, national and international; with national and international cooperación; with everything regarding the Council of Medellín.

This is a public entity that will have to go through the Council of Medellín and through 21 councilors that have to approve whatever we propose should happen here. Of course, with the whole district, and the whole conglomerate, and each one of the entities. And because we can strengthen it each time, let’s say I realize more and more that at least in this administration, we are completely interconnected with one another; each one of us plays a role and is very clear on what we’ll be focusing on. All of us, and I mean all of us, from the secretaries’ point of view, even many of the directors of decentralized entities call me, very interested in getting ACI Medellín to provide them support in the execution of their strategic projects. So I believe we have to think big.

Loren Moss: You touched on a very important topic: trust. It’s important when the people trust the government, the agencies. It’s also important for foreigners. One thing when I talk to investors, to executives, they are afraid of going where there’s uncertainty, where there are scandals; where there’s drama.

When an experienced administration restores this trust, the investors think long-term: “Ah, is it safe to invest in Medellín?” Not in the sense that I’m going to get mugged or something like that. But safe in that I know for sure that our investment will be protected, will be stable, there won’t be a storm of scandals and stuff to the point our shareholders or our clients will ask us ‘Why are you there?”

It’s an extreme case, but look at what happened in Nicaragua. Nicaragua was kind of attracting many outsourcing companies, the BPOs. And then it all collapsed. And there were some companies, I remember talking with the executives, “What are you going to do?” And the executives were conflicted, “Look, I know that’s bad for us, but we don’t want to abandon our loyal employees either. Because if we go, they won’t have anything.”

Cristina Zambrano: That’s right.

Loren Moss: It’s an extreme case. But the thing is, people go “Look, we don’t need that drama, let’s go to another city in Colombia,” whenever things are rough here.

Cristina Zambrano: Definitely.

Loren Moss: But when there’s an administration with trustworthy people. When you see all the books with all the expenses. When you see that there’s a cooperative governance. When you can say,”What did ACI Medellín spend resources on? What did City Hall spend on?” And it’s not on, like, pet care. Not on, like, the sky. But on the things that the city needs. And believe me! Because our readers, our audience, are the foreign executives. Here in Colombia we already have analytic values, we have a portfolio. 

But we and our readers are from abroad, who have assets in Colombia, who have investments in Colombia, and they wonder, and sometimes they ask us, “Hey, what’s going on with that?” It really matters to them. Companies think, “We don’t want to get involved in long-term projects, because later on…I don’t know, some crazy thing, or whatever, happens.”

And it’s something I discussed once, for instance, with some investors. “Why do you not take part in the tenders of, like, tunnels and stuff?” He replied, “Look at what’s happening now with the concessions with the tolls.”

Cristina Zambrano: Stalled.

Loren Moss: So what you’re saying is so important, to go to the conventions and to the conferences, the trips and all that. But as important as all of that is to have that governance and trust.

Cristina Zambrano: That’s right. That’s right, Lore. And, let’s say there is a very key, a very complex matter there. This trust is not easily acquired. This trust is relationships that take a lot, and it’s taken us a lot of effort as a city to work for them. The current mayor is a mayor who has earned trust over a trajectory.

I’m not just talking about the four years he had been mayor of this city already. I’m also talking about the other years as a councilor. I’m talking about his whole personal and family history, and a lot of other things. Thanks to all that today he has the trust of many. Obviously, us citizens who voted for him, we trust him.

As a national productive company that supports him, which is present to work hand in hand on international matters. I’ve realized personally how I see all the embassies are absolutely active, and I always ask the team, “Hey, is this normal? All the embassies want to be here?” “And all the councils want to have a meeting?”

Now everyone wants to. They tell me, “That’s not so easy, it’s not like that.” Ah…I’m overwhelmed because definitely everyone wants to have a spot with the mayor now. And that’s why I’m saying, that’s not something you accomplish on only four years.

Loren Moss: It’s the truth.

Cristina Zambrano: That has been achieved over a long period of time. That’s how it is with investment, and I believe that we as a city have known how to do it, and how to maintain it. Yesterday I was in a meeting, with the mayor, and he mentioned — I’m not sure anymore whether it was the ambassador of Denmark or of Israel — because we had four meetings in a row! But he told the ambassador, “there’s one thing of Medellín that’s really key: It’s the talent.”

Loren Moss: True.

Cristina Zambrano: “It’s the talent.” Right? So we started a discussion around this subject that is talent, and indeed, the people from this territory are talented and have proven it. And we had to live such a complex life story, so much so that now we are resilient, we are innovative, we are always running around. But we don’t give up so easily in the face of obstacles. This is something the private investment itself has realized, and they come looking for the talent, right?

Beyond the pretty mountains, the pretty landscape, and the marvelous weather, there are so many things here. And investors come looking for talent!

Loren Moss: And ‘berracos’ (talented people) I think is the Word.

Cristina Zambrano: Yeah!

Loren Moss: Because people here want to work. People here aren’t looking for free food, they’re looking for opportunities.

Cristina Zambrano: That’s right.

Loren Moss: They search for opportunities. “Which is the new company?” “Where can we work?” “Where are there opportunities?”

Cristina Zambrano: Indeed. And notice that the society itself is so nice because it’s when they see value in the things that both the private and the public sectors do. Right? Because both of us have to show ourselves to society, and show them the value of what we do in our day to day. And it’s the same society that in the future will demand the most from us, and the one that demands from us when we’re in the wrong too, right?

Loren Moss: Right.

Cristina Zambrano: Somehow, what you’ve been saying, which is related to the national government and everything that’s currently going on, and to the reforms, and the lack of resources and support for Antioquia, as such, has been a pretty, pretty complex matter.

Look how society itself starts demanding from the national government: “Why are you not looking at Antioquia?” “Why are you not going to finish the 4Gs?” “Let’s see where is the support for the tram on the 80, which you had already committed to?”

The whole society starts mobilizing in favor of a matter that, as you say, very ‘berracos.’ “We like working, and we like thriving and we like earning every one of the pesos we get with the sweat of our labor.

So I think that’s also reflected in the investment. It’s exactly the same. Let’s say those investors come, hire local talent, and realize that indeed there are some really interesting dynamics here, thanks to which we can work hand in hand. Surely some pretty complex challenges, but here we are in our day-by-day.

From Medellín, the company plans to continue advancing its work of providing digital transformation solutions, such as AI and robotic process automation (RPA) tools, to companies in a range of sectors, including banking, finance, insurance, healthcare, retail, and education.

In May, the company’s growth in these fields was demonstrated when it became a platinum level partner with UiPath, a leading global RPA company.

READ MORE: ACI Medellín Head Juan Camilo Mergesh Works to Position City as an Innovation Leader

Accelirate, which already has a presence in India, Pakistan, and the United Arab Emirates, chose Medellín due to the availability of developer talent with familiarity in the type of automation technologies it specializes in and the city’s general maturity as a stable market for software development, added Ruta N when announcing the news.

“Our city has become a hub for development and innovation recognized by governments and companies from all over the world that come to see and copy our development model,” said Juan Camilo Mergesh, executive director of local business promotion agency ACI Medellín.

“Much like Accelirate,” he added, “many companies are now arriving to improve the labor outlook by offering high-level employment and contributing to the quality of life of our people and surroundings.”

Photo: The Medellín office of Ruta N, a business and entrepreneurship incubator. (Credit: Loren Moss)