#2 Brazil: a Vast Network of Skipping Connection
An ongoing political drama and economic turmoil in Brazil seems to become its permanent state. Still, the 200+ million people country boasts one of the world’s most rising economies and a firmly established middle class. However, a remarkable mixture of the above mentioned factors does not set a barrier for a steady development of Brazilian tech startup powerhouse that springs into a powerful tool reforming healthcare, education, and other major state systems.
Most tech and startup hubs focus in São Paolo that generates the largest GDP across the country, while Rio de Janeiro hosts the second biggest share of them. Last years, Recife’s Porto Digital that in the year 2000 ventured to launch outside the wealth of southern Brazil has been struggling eagerly to attract skilled workforce under the roof. That was not for nothing, and they quite made a go of it tending to become an exemplary entrepreneur environment giving a creative tech touch to social development solutions.
Well, who’s got enough ardor to raise and breed the generation of Brazil’s smart entrepreneurs? Namely, the major national “Atlases” are Start-Up Brasil that supports those creating tech companies, SEED (Startups and Entrepreneurship Ecosystem Development) that for quite a time provided support for tech entrepreneurs, and Sebrae RJ emphasizing market access and capacity building.
The cultivated startup area keeps on beefing up initiatives that create a whole lot of trailblazing and rewarding businesses like Nubank now being one of the most lucrative finance startups, GuiaBolso financial management platform hitting the App Store without any marketing campaign, Hotel Urbano just about to become the most successful travel agency in Brazil, let alone BovControl and Strider mobile apps for agribusiness, Cityheroes social platform, and a list of other noteworthy smart novelties.
Such a challenging atmosphere makes tech movers and shakers think of the country as a promising platform for their startup initiatives and one by one flock to Brazil. Thus, this year SAP steps into the area with its Startup Focus program. Brazilian cryptocurrency adepts rejoice as well, as the capital now hosts BitcoinToYou startup office.
However, what makes some business pioneers stay aloof from the Brazilian ground? The discouraging components are overpayment for services due to somewhat underdeveloped infrastructure and the Internet access problems here and there, risk aversion stemming from the past decades’ financial instability, a decentralized start-up network, and the lack in seasoned tech entrepreneurial environment necessary for start-up mentorship as well as costly capital.
To be continued…