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By 2025, the Brazilian government expects IoT ventures in smart cities, agriculture, healthcare, and manufacturing to contribute US$132 billion to the economy.
FREMONT, CA: Brazil might be infamous for its political corruption, bureaucracy, and economic ups and downs, but entrepreneurs have still found ways to propel this country forward on the global technology stage.
Following the US, Brazilians are the second largest users of social networks, and the number of mobile device users in the country equals the number of people inhabiting there. There are nearly 198 million smartphones in use in Brazil, and the current population is just above 200 million.
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International investors, such as China, are also contributing to Brazil's tech scene. Since 2013, foreign investments in Brazilian startups have increased more than 100 percent. Potential technology startups and initiatives are emerging in Brazil and expanded across many cities, including São Paulo, Florianópolis, Recife, Rio de Janeiro, and Belo Horizonte.
Here is a detailed look at Brazil's startup scene:
Brazil's Tech Scene Bregan in the 1980s with TOTVS
With the launch of TOTVS in the 1980s, the Brazilian technology scene began. With 10,000 employees and services to about 60 Percent of Brazil's small and medium-sized companies, the business software provider has become Latin America's largest software firm.
Government programs such as the Brazilian Association of Private Equity and Venture Capital (ABVCAP) were introduced in the 1980s to assist Brazil's technology ecosystem in getting off the ground.
Many Global Tech Giants Have Offices in Brazil
Google chose So Paulo, Brazil, as the venue for its first Latin American offices in 2002, and several other multinational tech giants followed suit shortly after. Uber, Airbnb, Instagram, Facebook, and almost every other major global tech company now have offices in Brazil.
Brazil's Government Adopts the Internet of Things (IoT) Technology
According to estimates, over 58 percent of Brazil's population has access to the Internet, and over 100 million people use smartphones to communicate. The Internet of Things (IoT) technology is one way Brazilian companies are taking advantage of this connectivity. Approximately 60 percent of Brazilian businesses have invested in Internet of Things research and development.
In addition, the Brazilian government announced a proposal to extend the Internet of Things throughout the country through collaborations and higher education programs. By 2025, the Brazilian government expects IoT ventures in smart cities, agriculture, healthcare, and manufacturing to contribute US$132 billion to the economy.
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