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A boost for Brazil: The partnership launching Latin American startups toward global innovation leadership

Considering Brazil’s severe COVID-19 outbreak, improving Brazil’s position in the innovation sphere is critical for the Latin American tech industry.

SOSA – the global open innovation company – has recently announced its partnership with CNI – the National Confederation of Industry in Brazil – to open the door for global innovation that will change the game for Brazil’s tech industry. 

Through this emerging collaboration, SOSA’s network will offer CNI’s members and startups access to the latest international tech, as well as the opportunity to develop essential relationships and strategic partnerships globally. CNI’s members have the opportunity to engage and join forces with the most cutting-edge 4.0 technologies, within the Tel Aviv and New York’s tech ecosystems.

“The CNI-SOSA program is intended to allow the Brazilian tech ecosystem, its corporations, and startups, to gain access to the world-leading innovation capitals and by extension, access to most disruptive technologies and innovation outside of Brazil,” Uzi Scheffer, CEO of SOSA explains. “Brazilian corporations will be given the opportunity to tap into SOSA’s network of advanced technologies so that they can develop new solutions and strategic partnerships that will inject innovation into their business.”

The intention is to provide Brazilian tech companies with the tools necessary to scale globally, boosting Brazil’s foothold in the innovation sphere at a crucial time, particularly as the country powers through COVID-19.

Much like Silicon Valley in the USA, South America also has a “nurturing place of the country’s developing startup ecosystem”. São Paulo is home to 60% of Brazil’s startup investments, as well as being the LATAM base for 65% of Fortune 500 companies operating in the continent such as; Airbnb, Amazon, Google, Netflix, and Spotify. However, investment opportunities for those outside of the hub have reportedly been much more limited. 

“While local and international funds continue to grow in Brazil, the flow of investment remains a critical issue and ultimately, an impediment to innovation, as institutional backers are still reluctant to invest in startups,” Scheffer said. “The international interest that São Paulo attracts as an innovation hub is certainly incredible. However, Brazil’s startup ecosystem must look beyond São Paulo and Brazil to become scalable, develop their offering by connecting with external markets, and collaborate with international corporations, organizations, and investors.”

In answer to these issues, the CNI-SOSA program claims they will offer corporations open innovation activities, tech scouting opportunities, and participation invites to private demo days. Alongside workshops on innovation leadership, industry reports, and curated industry events. 

For startups, the program has announced that access to SOSA will be a foothold in the Tel Aviv and New York ecosystems, thus providing access to multinational corporations, VCs, investors, and other tech companies. Startups are also allowed to participate in curated tech events, offering global business opportunities, roundtables, panel sessions, and participation in professional workshops – designed to give them the tools and best practices needed – to build a global company.

The partnership also declares a welcome to LATAM corporations, investors, and government delegations, on an ongoing basis. The aim is to provide insight into the latest trends in global tech, in order to sharpen the Brazilian industry’s competitive edge.

Given the confident start to this collaboration, we’re eager to see what the future holds for SOSA’s partnerships, particularly within the Latin American tech ecosystem. 

“The partnership with CNI is not only an incredible extension of our global network, but it is the first step in SOSA’s expansion into Latin America,” Scheffer said. “We anticipate more collaborations to follow in the region, which will be drawn from the successful partnerships we establish and nurture with Brazilian corporations and innovators.”

In addition, SOSA hopes to broaden their alliance within the Brazilian business sector, and extending their hand seems to be at the forefront of their future plans.  

“We are already in deep conversations with leading Brazilian Corporations dealing with manufacturing, industrial solutions, healthcare, and more, who are seeking to gain visibility into global technologies, an early indicator of the promising future of the CNI-SOSA partnership,” Scheffer said.