Technology

IBM launches mentoring program for mature startups in Brazil

The American giant will not invest directly into the scale-ups, but may contract them and refer them to customers

IBM will build new datacenter in Brazil
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  • 12 scale-ups have already been selected;
  • And that every six months 25 new startups will be chosen.

IBM launched on Tuesday (3) a mentoring program for Brazilian scale-ups–mature startups that grow at a rapid pace–, called IBM Open Ventures.

According to the Brazilian newspaper Gazeta do Povo, within the company’s innovation strategy, the project aims to scale businesses that can solve demands of partners of the American giant.

Tonny Martins, president of IBM Brazil, told the publication that 12 scale-ups have already been selected, and that every six months 25 new startups will be chosen.

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Unlike an accelerator, IBM will not make direct investment contributions to the selected scale-ups, but may contract them and refer them to customers.

This is not the company’s only announcement for innovation in Brazil this year.

About two months ago, the US giant announced a partnership with the University of São Paulo (USP) to create an artificial intelligence research center in the country. And in August, it announced that it would build the first data center in Latin America in Sao Paulo. With it, the company hopes to be able to compete in the region against Amazon and Microsoft, global leaders in cloud computing.