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IDB Lab and Cubo Itaú launch "BID ao Cubo"

"BID ao Cubo" is a training and immersion program in the Brazilian market for Latin American and Caribbean startups

IDB Lab, the innovation laboratory of the Inter-American Development Bank (IDB), and Cubo Itaú, the Brazilian hub for the promotion of technological entrepreneurship, will select 20 projects from the region to be part of "BID ao Cubo", an initiative that seeks to integrate the startup ecosystem of the continent through an immersion program in the Brazilian market.

"BID ao Cubo" is born out of the conviction that deeper integration will enable a more powerful regional ecosystem and expands geographically and thematically the homonymous program designed for Brazil. Selected startups will have access to a wide range of investors, partners, founders and potential customers, as well as to strategic training sessions that provide Latin American entrepreneurs with solid opportunities for the internationalization of their businesses.

The program will start in June, virtually, and will be divided into 3 modules that will last four months. The first, lasting two months, will consist of workshops and tutorials on the specificities of the Brazilian market, such as regulations, opportunities in the public sector, marketing, governance, resource planning and local culture. The rest of the program will facilitate the establishment of a network of connections with startups linked to Cubo, as well as with local partners, accelerators, investors and corporations. It also includes consulting sessions focused on the main challenges derived from internationalization. All content will be developed in Spanish with access to English translation.

Access to "BID ao Cubo" is open to B2B startups from Latin America and the Caribbean in the traction or scaling phase and preference will be given to technology projects with social impact. Startups focused on the ethical use of artificial intelligence and data to improve the quality of life of vulnerable populations are encouraged to participate.     

Considering that diversity is a key factor for “BID ao Cubo”, also will have preference in the selection process those startups founded or led by women, afroamerican, LGBTQIA+, indigenous or disabled people.  

Startups are a key element of digital transformation and a priority issue for the IDB in its post-pandemic recovery efforts. According to Morgan Doyle, IDB Group representative in Brazil, "this program allows, in addition to getting in touch with the Brazilian innovation ecosystem, the largest in the region, startups from neighboring countries to bring their own perspectives and practices, enriching the Brazilian context. I am sure that the synergies will benefit all the countries involved in the digital transformation”.

Renata Zanuto, co-director of Cubo Itaú, said, "Since we began our partnership with the IDB, there has been a desire to develop a project that integrates Latin American ecosystems and provides valuable connections that result in the exchange of experiences and the generation of business in the region. At Cubo we strongly believe in the diversity of startups and we intend to increase it more and more. Expanding the frontiers through "BID ao Cubo" is a fundamental step towards this goal".

The startups interested must complete the application between May 3 and May 30, on this link. The results will be released on June 11 and the program will take place between June 16 and October 1st.

 

About IDB Lab

IDB Lab is the innovation laboratory of the IDB Group, the leading source of development finance and know-how for improving lives in Latin America and the Caribbean (LAC). The purpose of IDB Lab is to drive innovation for inclusion in the region, by mobilizing financing, knowledge, and connections to co-create solutions capable of transforming the lives of vulnerable populations affected by economic, social, or environmental factors. Since 1993, IDB Lab has approved over US$ 2 billion in projects across 26 countries in LAC. www.idblab.org

About Cubo Itaú

Cubo Itaú (“Cubo”) is one of the most relevant tech entrepreneurship hubs in Latin America - was founded by Itaú Unibanco in partnership with Redpoint eVentures. Since 2015, it has connected entrepreneurs, large corporations, investors and universities to discuss technology, innovation, new business models, different ways of working and challenging the status quo, collaborating to build up a better world. https://cubo.network/