"I need a business model that works, a good marketing study, good programmers, good space, and financial support." The statement from computer engineer Wladston Viana could very well be said by the vast majority of entrepreneurs still in the early stages of their business ideas. The good news is that the time for good ideas to become reality is approaching!
The SEED - Startups and Entrepreneurship Ecosystem Development - is a program created to strengthen the entrepreneurial culture, accelerate the development of the startup ecosystem, and encourage technology-based businesses in the state. With a bold and innovative proposal, built from the feedback of various ecosystem actors, SEED (already mentioned in important publications such as Exame, The Economist and ZDnet) aims to transform Minas Gerais into the main hub of technological entrepreneurship in Latin America.
"We have a totally favorable ecosystem for the emergence of startups, and now, with SEED, we will have the governmental and financial support that was missing to truly boost the entrepreneurial and technological culture in our state," says André Barrence, president of the Office of Strategic Priorities of the Government of Minas, responsible for the program.
How it works
SEED will consist of two phases, lasting six months each, with the participation of 40 startups per phase. The selection of the first cohort will take place in September, and the work will begin in December 2013.
Advantages
In addition to non-repayable seed capital of R$ 68,000.00 (for projects with two participants) or R$ 80,000.00 (for projects with three participants), the program offers tailored mentoring with prominent figures from the startup scene, entrepreneurial training, an inspiring coworking space, and connection with a global community of entrepreneurs through partnerships established by the Government of Minas. All to make your startup “the next big thing.”
Target Audience
SEED is aimed at entrepreneurs from anywhere in the world who dream big, have sparkle in their eyes, innovate, and make things happen. Any entrepreneur with an idea in mind can apply, as the program, in an unprecedented initiative, offers seed capital free of equity participation to individuals, whether Brazilian or foreign, without the need to establish a company.
Prerequisites
Projects with two to three participants who are at least 18 years old, whether Brazilian or foreign, and able to stay in Brazil for the duration of the program are eligible to apply. These entrepreneurs must demonstrate potential to contribute to the development of the local startup ecosystem and be willing to reside in Belo Horizonte during these six months. As the name suggests, startups must be in the early stage, that is, planning or developing a prototype that impresses or a launchable version of their product or service. Additionally, participants will share their knowledge with the community through workshops, courses, and seminars. Through these actions, the supported entrepreneur will earn points that will allow them to advance through the phases of the program.
Applications
The announcement for selecting startups interested in participating in the first cycle of the program will be released soon. So, stay tuned!
Learn more at the site www.seed.mg.gov.br.
Expected Dates
SEED - Startups and Entrepreneurship Ecosystem Development
Expected start date for startup applications: from the week of September 16 to 24, 2013.
Presentation of the first cohort of startups: early December 2013.
Ecossystem
The startup ecosystem in Belo Horizonte gained notoriety when Akwan, created by professors from UFMG, became the first startup outside the U.S. to be acquired by Google in 2005. Years later, the San Pedro Valley was born, a name playfully adopted by a group of young entrepreneurs who frequently met in snack bars and restaurants in the São Pedro neighborhood, clearly alluding to Silicon Valley in the U.S. The name stuck, and today San Pedro Valley is a self-managed community recognized internationally, extending beyond the territorial limits of the neighborhood with startups located in other parts of the city.
Furthermore, Belo Horizonte is considered by the magazine América Economía to be one of the 20 best cities to do business in Latin America. The city is also a reference in higher education, with the Federal University of Minas Gerais (UFMG) (10th best in Latin America) and the Dom Cabral Foundation (FDC) (best business school in Latin America), presenting a huge concentration of young and highly qualified professionals. In turn, Minas Gerais is considered the best state to start a business in Brazil by the International Bank for Reconstruction and Development (IBRD) and the 3rd in competitiveness by The Economist magazine, accounting for 9.3% of Brazil's GDP, making it the 3rd richest state in the country.
Sources and News:
Exame: San Pedro Valley, in BH, is a hub of digital entrepreneurship
Startupi: MG may have become the best state to start a business. Meet SEED
The Economist: BH could become a Brazilian version of Silicon Valley, says “The Economist”
ZD Net: American portal (with branches in the UK, Asia, and Australia) aimed at IT professionals and decision-makers.
http://www.zdnet.com/minas-gerais-kicks-off-multimillion-dollar-tech-startup-program-7000020084/
