Is Brazil the next ‘startup nation’?

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Startup Nation: The Story of Israel’s Economic Miracle is a must read for entrepreneurs and policy markers alike. This incredible book details how the country’s 5 000 startups have driven the once emerging market to a leading position in a number of fields.

In the emerging markets context, though, Brazil is rising as a growing market where startups and SMEs are making their mark. As one of the top ten countries globally for entrepreneurship, Brazil is growing its share of startups in the technology space.

According to data gathered by Endeavor Brazil, groups working to promote high-growth entrepreneurship, young enterprises play a critical role in Brazil’s economic future in BRICS. At present, small and medium size-enterprises (SMEs) are responsible for 96 percent of the jobs in Brazil and comprise 98 percent of all companies in the country.

Peixe Urbano, Boo-box, Compra3, Apontador, Predicta, Migux, and SambaTech are just some of the more well known names in what seems to be a tide of new startups opening daily.

When it comes to BRICS (Brazil, Russia, India, China and South Africa), Brazil is flying in the view of a number of leaders in the industry, including South Africa’s Kim Reid who spoke to memeburn recently. “There are many fantastic entrepreneurs in Brazil. They definitely appreciate opportunity.” Reid’s bullishness on Brazil as a hotbed of opportunity echoes some of the rising interest in the country’s success.

“The essence of innovation of entrepreneurship comes from hardship: the actual desire to improve oneself. And I think whenever you find any nation going through that you find good entrepreneurs and people focused on trying to better themselves,” as Reid puts it, citing such an attitude as an approach as positive for entrepreneurship, investment opportunities and economies as a whole.

The challenge for Brazil, as in other emerging markets, remains the ability of larger corporate multi-nationals to lure entrepreneurial talent into larger organisations. According to nextweb.com the majority of Brazilians who work for Microsoft in Redmond come from the city of Recife, in Northeast Brazil, home to the Recife Center for Advanced Studies and Systems and Porto Digital, a startup incubator.

Brazil’s internet culture is strong. As the BBC points out, not all have access to the web but those who do “spend an average of 70 hours a month online, which is more than anywhere else in the world”.

The BBC’s technology correspondent Mark Gregory says it is the “country’s online revolution that has created opportunities to establish small businesses that simply didn’t exist before”.

Gregory adds millions of Brazilians now do their banking online, buy entertainment tickets, and “most importantly perhaps”, interact with their government via the internet. “Administrative tasks that used to take hours of queuing and hassle at government offices can now be done in minutes online.”

The effect of the internet and the resultant startup culture indicates important spinoffs for entrepreneurship, economic growth, employment and even democracy. It also demonstrates the capacity of emerging markets to take advantage of the opportunities that are relatively significant when compared to web users in more established countries.

Internet connectivity clearly needs to remain a key objective of emerging market policy makers. Entrepreneurs alone cannot launch the next big thing without the basic infrastructure.

Diane Coyle, author of The Weightless Economy, says the net helps people create more wealth in smaller ways that all add up to a significant contribution to the bigger picture. She points out the net makes it quicker to find things (reducing the transaction costs of business) and makes it easier to speed up buying and selling.

Image: abdallahh

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  • Eric Willis

    The missing ingredient is a strong ecosystem to support local entrepreneurs. You can definitely see the genesis of that now in some pockets in Brazil. I think there is a great chance that Brazil can be one of the impact players in the startup scene.

  • http://twitter.com/tueksta Andreas Beer

    no, germany is :P

  • http://twitter.com/igneousquill Adam Gonnerman

    Oh…I hope so. I’d love to move my family back there. So if there are any start-ups looking for a web producer who speaks Portuguese….

  • Pingback: Bazil Heaven or Hell for Entreprenuers? | The GEDI

  • http://twitter.com/campus_entre campus_entre

    the team over at the Global Entrepreneurship and Development Institute have some interesting work on Brazil and have added their two cents to the discussion.

    http://www.thegedi.org/bazil-heaven-or-hell-for-entreprenuers

  • 1975leandro

    I REALLY doubt…
    Brazil has the WORST burocratic system in the entire universe… lets not forget the super-complex-painfull tax system…
    Also, corruption… one of the worst countries in the world when we talk about corruption…
    In order to present and offer a project inside of local goverment, no matter the level of the goverment, you MUST attach yourself (and ur project) to a local politician and offer some % in order to make it happen…

    Its just FRUSTRATING…

    Brazil is just over-rated.

  • http://twitter.com/Bahska Bahska

    Nightmare was awesome, i recommend  not using your companion unless you just cant beat the boss without it.
    Makes the game more satisfying and its crutch you wont have by the end of nightmare.

  • http://twitter.com/RonanSteyn Ronan Steyn

    Small correction. Diablo 3 is Amazon’s most pre-sold PC game of all time. 

  • http://www.facebook.com/people/Manfred-Higgs/100003709336864 Manfred Higgs

    Ya Nightmare is looking a lot more challenging. Wish they had kept the pick up rune system as opposed to the unlock one. Would have been loads of fun to find skill modifying runes and there could have been many of them added over time. 

  • Anonymous

    Don’t forget about elective mode (under gameplay option). A whole world of customisation will open up to you. You are no longer restricted to the default spell build, PLUS you can actually use your weapon if you the witch doctor!

  • Ryan Gordon

    Don’t forget about elective mode (under gameplay option). A whole world of customisation will open up to you. You are no longer restricted to the default spell build, PLUS you can actually use your weapon if you the witch doctor! 

    Edit
    Reply

  • D3

    I want to know what Inferno mode is like. Still busy with Normal mode :P

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