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(Wireless-NewsWire.Com, February 21, 2018 ) The scope of the report is limited to various types of emerging technologies in Brazil, such as Edtech and Fintech, among various others. The study also emphasizes on in what manner the growing focus on the start-up culture in the country is driving the market.
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The startup & tech innovation sector has witnessed a sharp rise in Brazil amidst the recession in the past couple of years by generating considerable revenue, attracting a number of foreign investments, and creating thousands of jobs for the youth in the country. The ongoing political unrest over the past few years in Brazil has negatively affected the development of the tech sector in the region. The tech sector in Brazil has been contributing to almost 5% of the overall GDP of the country. According to Acelera MGTI, a local start-up accelerator program tech sector in the country contributed over USD 100 billion toward the country’s GDP. Moreover, there has been an increase in the number of acquisitions, as compared to the past. Technology sector’s innovation, corporate venture capital growth, and a mature ecosystem, are further helping the company’s economic engine to bounce back.
Increasing Focus on Start-up Culture to Drive the Market
Recent years have seen an increase in the activities related to the start-up scenario in the country. It is a pool of entrepreneurs with over 300,000 companies created each year. The market has witnessed investments and collaborations with foreign companies. For instance, Monsanto, a biotech company based in the United States, announced a partnership with Microsoft for investing in start-ups based on agricultural technology in Brazil. Similarly, the emergence of Fintech start-ups in Brazil has been driving more speed, transparency, mobile access/management, automation, and customer self-service to the financial services sector in the country.
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Growing E-commerce Market expected to Drive the Market
Despite the recent political havoc and recession in the country, e-commerce has experienced a huge growth in the recent times. During 2015-16, online sales in the country grew above 10% in value and almost 3% in volume, as compared to previous years, as per the reports of the Brazilian e-Commerce association. During the same year, the cumulative sales of e-commerce was nearly 3% of the total sales in the country. Due to the changes in consumer behavior, e-commerce is expected to experience decent growth during the forecast period. Moreover, according to EBIT, there has been a change in the shopping frequency of customers in the region. Though the disposable incomes are increasing, the frequency of buying has reduced. Hence, adopting strategies accordingly with the consumer preferences may fetch fruitful results to the e-commerce startups of the country.
Key Developments in the Market
• December 2017 - Oracle launched an innovation lab in Brazil to co-create innovation projects alongside clients and startups. The new physical facility is based in São Paulo and operates from a co-working space, where it is now able to use equipment and prototyping in its innovation initiatives.
• October 2017 - Nubank announced that the company may begin offering digital accounts, in addition to its credit card business. The move aims to provide access to bill pay, account-to-account transfers, and the ability to earn more in interest, than what is available with a regular savings account.
• February 2017 - The digital loan platform BankFacil took a step in the race to reduce interest rates in Brazil. Serving currently under the name Creditas, the start-up announced another BRL 60 million in round-robin Series B to accelerate the process of massification of credit with a
guarantee in the country.
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Major Players: CHERRY MOBILE, STARMOBILE, CLOUDFONE, APPPROVA, GEEKIE, QUERO EDUCATION, PASSEI DIRETO SA, SMARTAPP, MICROSOFT CORPORATION, ORACLE CORPORATION, KANUI, MOBLY, REDPOINT E.VENTURES, BANKFACIL, IUGU, NEON, AND NUBANK, amongst others.
Reasons to Purchase this Report
• To examine the impact of the growing middle-class population in the changing market scenario
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