The Brazilian government has opened an office in San Francisco to help that country’s technology startups grow and tap into the United States market.
Startup Brasil is overseen by the Brazilian Trade and Investment Agency (Apex-Brasil) and the Ministry of Science, Technology and Innovation. The office will be in one of the many rented spaces at RocketSpace, a startup community in downtown San Francisco that has been the previous home to companies such as Uber and Spotify.
The San Francisco accelerator office is meant to help Brazilian IT companies make connections and grow business in Silicon Valley, said Sergio Pessoa, the general manager of the Apex-Brasil office in San Francisco.
“The challenge in Brazil is we have a strong IT sector,” Pessoa said. “It is very well built but very (focused on) domestic sales. Less than 5 percent of the IT sales are to international markets. We want to drive the internationalization of Brazil companies.”
Twelve companies will start in the RocketSpace offices. Those companies will get help with market intelligence, strategies for international growth, promotion and investment attraction. The Brazilian accelerator program joins a growing list of similar efforts backed by foreign governments. By some estimates, as many as 25 of these programs — sponsored by Mexico, Israel, Switzerland and others — have popped up across the region.
Read more: San Francisco Business Times Brazil jumps into S.F. startup community with new accelerator