Brazil's innovation ecosystem holds strong on global index amid challenging year for many countries
Bloomberg 2021 Innovation Index reveals that Brazil excels in priority areas, such as manufacturing and productivity
BRASÍLIA, Brazil, March 8, 2021 /PRNewswire/ -- Apex-Brasil, the Brazilian Trade and Investment Promotion Agency, today shared that Brazil was able to maintain its overall rank on the 2021 Bloomberg Innovation Index during an extraordinary year. For the second year in a row, Brazil sustained a rank of 46th out of the world's 131 most innovative countries and economies, performing particularly well in certain specialized sectors measured, such as manufacturing and productivity – solidifying the country's innovation economy at a crucial moment in time.
During a year when innovation was, arguably, more important than ever before, Brazil's consistency on the Bloomberg Innovation Index is a positive sign for the future. This is underscored by many countries decreasing in their innovation rank over the past year, largely due to business ramifications of the coronavirus pandemic, according to Bloomberg, which uses seven weighted metrics to review dozens of criteria in assembling the Innovation Index.
"As the results of the Index underscore, Brazil is a country with a resilient innovation economy," said Roberto Escoto, Manager of Investments Department of Apex-Brasil. "We believe that Brazil's position on the Index remained steady from last year due to a robust innovation ecosystem, a steep growth in the number of startups, and continued international expansion and investment attraction. Apex-Brasil is proud to support the various initiatives that have helped Brazil continue to share its technologies, solutions, and innovative ideas with the world."
From 2019 to 2021, the number of unicorn startups in Brazil has grown 157%, from only seven unicorns less than two years ago, to 18 today. Brazil has more than 13,400 startups across its 26 states, and São Paulo is emerging as a startup hub to watch with 4,000 startups – the largest concentration out of all Brazilian states. As a result of this innovation boom, investors from across the globe are looking to Brazil as a source of innovation – and, ultimately, investment. In 2019, which was a record year for venture investment in Latin America, Brazil dominated with 50.5% of the deals, resulting in $2.49 billion invested across 222 transactions, according to the Association for Private Capital Investment in Latin America (LAVCA).
Apex-Brasil has had a crucial role in these efforts, driven by its main investment attraction programs for innovation, which include:
- ScaleUp in Brazil: A project dedicated to helping foreign startups setup operations in Brazil. Participants are provided with four weeks of online training, followed by four weeks of being fully immersed in the country, with support in business and strategy mentoring, coordination of meetings with potential investors and clients, and contact with service providers.
- Corporate Venture in Brasil: An event in São Paulo that has attracted participation from international corporations to learn more about Brazil's innovation ecosystem. The event entails Brazilian startup and incubator site visits, strategic information about the Brazilian ecosystem, and "matchmaking" meetings between investors and Brazilian startups and funds.
- TechMakers: A project designed to foster technological partnerships between foreign and Brazilian companies. The selected projects are financed by Embrapii and its relevant counterpart in the international market.
- ABVCAP: A partnership between Apex-Brasil and the Brazilian Private Equity and Venture Capitalist Association (ABVCAP) to organize investment rounds between international institutional investors and Brazilian fund managers. Since 2010, the partnership has resulted in more than $19 billion (USD) in committed capital to Brazilian funds.
- StartOut Brasil: A non-profit program, promoted by public and private Brazilian organizations. StartOut Brasil helps immerse Brazilian startups in some of the world's most promising innovation ecosystems.
To learn more about Apex-Brasil's investment projects, and how Brazil continues to be a global leader in innovation, please visit: https://investinbrasil.com.br/en/home. To learn more about Apex-Brasil's other priorities, please visit: http://www.apexbrasil.com.br/en/home.
About Apex-Brasil
The Brazilian Trade and Investment Promotion Agency (Apex-Brasil) works to promote Brazilian products and services abroad, and to attract foreign investment to strategic sectors of the Brazilian economy. Apex-Brasil organizes several initiatives aiming to promote Brazilian exports abroad. The Agency's efforts comprise trade and prospective missions, business rounds, support for the participation of Brazilian companies in major international trade fairs, arrangement of technical visits of foreign buyers and opinion makers to learn about the Brazilian productive structure, and other select activities designed to strengthen the country's branding abroad. Apex-Brasil also plays a leading role in attracting foreign direct investment (FDI) to Brazil, by working to identify business opportunities, promoting strategic events and lending support to foreign investors willing to allocate resources in Brazil.
Media Contacts
Lilian Leão Alves
Apex-Brasil
[email protected]
+55 (61) 9 8462 0525
McKenzie Naylor
Ruder Finn – PR on behalf of Apex-Brasil in the U.S.
[email protected]
+1 212-593-6434
SOURCE Apex-Brasil
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