Minister Marco Antonio Raupp releases the Start-up Brazil program.
The government in Brazil is offering foreign companies visas and funding to relocate to South America. Startup Brasil is a new program offering up to $78 million in investment for domestic and foreign high-tech companies. Firms that participate would have to relocate to Brazil and hire local employees; disbursement of funds would take place through a series of government-subsidized accelerators concentrated in Sao Paulo and Rio de Janiero. One of the participating accelerators, 21212, also has a New York office.