Why expand to Brazil?
Brazil is a massive market of 200 million people and a Top 10 economy of the world. It is a country of continental measures with rich and diverse natural resources. Despite its huge population size and country dimensions, all Brazilians speak the same language and share the same general cultural and social values, which creates favorable conditions to establishing and expanding business regionally and nationally. The bottom of the pyramid economic class has emerged and gained access to digital services. Brazilians are very enthusiastic about new technologies and head statistics of time spent on the Internet. Brazilian big and medium cities have become home to multinational and regional tech powerhouses. Regarding to the perception of Switzerland image, it evokes credibility and superior quality values for services and products.
What is to expect?
Brazilians are enthusiastic about new technologies and proudly fit the early-adopter profile. E-commerce is also booming, as all technology, infrastructure, logistics, security and financial know-how necessary to support it. Brazilians build personal and professional relationships in a very informal way, that’s why personal contact is essential for business and gaining trust may require some time. Brazil is a very heterogenic ethnic country and this diversity can provide diversified data and clinical opportunities for life sciences and med tech areas. Brazil also offers wide opportunities for international startups expansion, as there are few born globals operating in the local market.
What is the state of innovation?
Brazil is experiencing a moment of growth and maturity in its innovation ecosystem: the number of accelerators, incubators, corporate ventures, investors, innovation hubs, R&D centers, coworking spaces are increasing and corporates’ awareness and startup culture engagement are becoming part of business strategy as they are increasingly approaching startups for implementing open innovation projects.
Is it easy to find qualified co-workers?
Brazil has experienced an unprecedented expansion of academic education and technical formation opportunities in last 20 years, due to new legislation, public and private investments. Access to superior education for a significant part of professionals today is a regular career path and this new generation shift has increased workforce quality. Among Postgraduate students in Brazil, 62% are in Academic Masters and 34% are Doctoral Students. Brazilians are also self-motivated to invest in continuous education to improve their own career and the rise of e-learning and specialization courses in both private and public institutions are a solution to increasing demands.
What is the good thing about Brazil?
Brazilians are very open minded, eager to test new technologies and get the latest product models. They are leaders in time spent on the internet and very active on social medias. That means getting almost instant and valuable feedbacks and contributions to products and services validation. Brazilians are also integrated to occidental culture, with a familiar behavior setting and less cultural divide to be challenged by Swiss entrepreneurs.
What opportunities do Rio de Janeiro and São Paulo offer?
Rio de Janeiro and São Paulo are Brazil biggest cities and offer a wide range of opportunities. Home of more than 20 million people, they make consistently the top 10 cities lists for digital entrepreneurs. Rio de Janeiro has R&D tech parks affiliated to high level Universities in fields such as Biotech, Engineering, IT, Oil & Gas, Renewable Energy, Creative Economy, among others. Sao Paulo is the financial heart and industry force of the country, ranked 12th for startup innovation worldwide and home to more than 2,700 active startups. World’s most innovative global corporations have offices in São Paulo enhancing conditions for market innovation, qualified workforce and investment.
…and what are the challenges?
Persistent bureaucracy is one of the main challenges entrepreneurs face in Brazil. That makes business lose time and money, worsen by high local and federal taxes. Despite the impressive variety and amount of data collection, there’s limited capacity to use it due to lack of structured data bases. Furthermore, language can be a barrier to information access and data from public institutions, as it is mostly available in Portuguese. These conditions and other aspects of Brazilian business culture already mentioned, makes necessary to rely on trustable partners for market entry.
What does swissnex Brazil bring to the table?
Swissnex Brazil has a broad network of experts in science and technology based startups available to offer knowledge via e-mail, face to face and on-line meetings in Rio de Janeiro and São Paulo. We can provide information and connect local players to interested startups, support Swiss startups to participate in industry expos, fairs and tech showcase, offer office infrastructure and coworking space. Startups can rely on swissnex Brazil to carry out preliminary market and regulatory research, identify potential clients and cooperation partners, preparing and implementing market entry strategies.
Find out all about the Market Entry Camps in Rio and São Paolo: