The Brazilian government will invest 3 million reais a year ($920,000) in a program to internationalize startups.
Dubbed StartOut Brasil, the program will select up to 15 ventures per immersion cycle to participate in “missions” abroad.
The first mission will take place between December 3-8 in Paris. Some 14 startups will participate, many being biotechnology and healthcare-related ventures.
During the program, the startups will have access to consulting focused on international business development, mentoring with specialists in the target market and pitch training.
In addition, the startups’ agendas while abroad will include client prospecting and connections to innovation environments, with visits to accelerators and incubators. Meetings with potential investors and a demoday at the end of the mission will also take place.
Upon their return to Brazil, the startups will be supported with a follow-up strategy as well as a soft-landing plan in their target markets.
According to the government, the idea for the program is to help new ventures increase the amount of business they generate outside Brazil but also absorb management best practices from more mature innovation ecosystems.