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Brazil Offering Foreign Startups Visas, Funding

Startup Brasil is a new program offering foreign tech firms visas and up to $78 million in investment to permanently relocate to Brazil.

The Brazilian government 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. Participating firms 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.

Brazil's program is modeled on a similar funding-and-visa bundler called Start-up Chile. But while the Chilean program is designed for foreign companies to temporarily operate overseas and cultivate ties to Silicon Valley, New York, and Berlin for local entrepreneurs, Brazil seeks companies willing to permanently relocate to their country.

[Image: Flickr user Phillie Casablanca]

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  • DavidShellenberger

    The government of Brazil should open the country's borders, rather than selectively offering visas. It should also drop its funding of entities, i.e., corporate welfare. 

  • Ricardo Rodrigues

    I think the idea is not to bring anyone, but attract talented people and offer them the many opportunities in the Brazil´s startup environment.

  • DavidShellenberger

    I understand. It's a bad idea, because it entails central planning of labor and subsidizing favored firms.