The Brazilian government has launched a new technology development centre in Sorocaba to focus on IoT, robotics and 5G. The Ministry for Science, Technology and Innovation (MCTI) said, it is the first government research facility to employ the quintuple innovation helix framework that interacts with university, industry, government, public and environment, within a knowledge economy.
The centre is expected to generate new jobs and professionals and technology applications in various sectors and manufacturing.
Sorocaba city government will partner to mange operations in the facility, following priorities set out in national strategy for IoT and digital transformation. The centre is set to focus on 5G initiatives that can be replicated by organisations. It has planned to share outcomes of the projects through digital model.
Brazil’s Digital Transformation Strategy, created in 2018, aims towards National IoT plan to strength innovation and IoT development. The four core verticals of Brazil’s IoT plan are Smart Cities, Healthcare, Agribusiness and Manufacturing. The plan was preceded by a study, funded by BNDES and carried out by a consortium led by consulting firm McKinsey. According to the research, IoT-related businesses could bring up to $200 million to the Brazilian economy by 2025.
Other recent developments in the IoT front in Brazil include the launch of a $45 million venture capital fund in May, focused on early stage investments in companies active in the Internet of Things (IoT) and connectivity space. The vehicle, launched by the Brazilian Development Fund and Qualcomm Ventures and managed by Indicator Capital, is the first of its kind in Latin America. It will support up to 30 startups in Series A rounds over the next 10 years and it expects to close 7 deals in 2021.