Plug and Play Tech Center is thrilled to announce that they are partnering with Abril Midia, the Digital Arm of the Brazilian media conglomerate Editoria Abril, to launch an international technology accelerator that aims to create a bridge between Brazil and Silicon Valley. The program will expose Brazilian startups to, and educate them about, the technology community in Silicon Valley. The program will focus on startups working within mobile verticals, primarily early-stage.
“I’m really happy to announce our most recent partnership in Brazil with Abril. The joint accelerator will focus on mobile startups. The first half of the program, which will launch in May will work with companies working in San Paulo for three months on product positioning and product development. The program will also leverage Abril’s media assets to drive app downloads. When the companies come to Silicon Valley for the second half, the focus will be on business development, fundraising, and additional opportunities to expand the company here,” said Fernando Gouveia, Director of Business Development at Plug and Play Tech Center.
This is the first accelerator dedicated to a relationship between Silicon Valley and Brazil. Startups that want to apply should visit the Abril Plug and Play website. Select companies will be invited to pitch in front of an experienced evaluation team. The best companies will be accepted into the program and will spend an initial three months in Sao Paulo and those with the best performance during the initial part of the program will then be asked to travel to Plug and Play in Silicon Valley for 1-3 months to participate in the International Accelerator.
“We’re looking to invest in up to ten companies this year. What we’re really trying to do is reduce the gap between the Brazilian entrepreneur and Silicon Valley,” per Fernando.
Startups enrolled in the program will attend lectures, workshops, and receive valuable mentorship from senior market professionals with a wealth of knowledge. Those accepted into the program will also receive US $25,000 as seed capital to help them get off the ground.
At the end of the first three months, startups will participate in a demo day, where they will have the opportunity to give their refined pitch to an audience of investors. The companies that do the best will move on to the second acceleration program at Plug and Play in Silicon Valley.
Abril and Plug and Play will take a 15% stake in the startups who receive support from the joint acceleration program.
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