Federation of Canadian-Brazilian Businesses and the Brazilian Association of Software Companies joined forces to promote business between Brazil and Canada
FCBB partnership with ABES (Brazilian Association of Software Companies) to encourage the entry of Canadian companies into Brazil and Brazilian companies into Canada. The initiative opens a strategic front for innovation and investments between two countries that are among the top ten leaders in the sector, both experiencing an accelerated pace of growth.
- (1888PressRelease) December 27, 2022 - The Information Technology (IT) Sector gains a new strategic front in two of the world's largest innovation markets. ABES (Brazilian Association of Software Companies), an entity that brings together 2,000 members in the sector in Brazil, and the Federation of Canadian-Brazilian Businesses (FCBB) signed a cooperation agreement to encourage the entry of Canadian companies in Brazil and Brazilian companies in Canada. The initiative brings together two countries experiencing an accelerated pace of growth and which are among the top ten leaders in the sector.
According to the Brazilian Software Market Study – Panorama and Trends 2022, produced by ABES and the consultancy IDC, Brazil occupies the 10th position in the world ranking of IT investments, with US $45.7 billion invested, leading in Latin America. In this same ranking, Canada appears in 8th position, with assets of around US $57 billion. When the focus is on startups, the consultancy CB Insights places Brazil and Canada in the Top 10: countries with the highest number of unicorn startups, a list released in early 2022, in 7th and 8th position, respectively.
The cooperation agreement was signed at the beginning of December by Paulo Milliet Roque and Sérgio Frias, presidents of ABES and FCBB, respectively. It aims to increase opportunities for Brazilian businessmen in the sector and foster bilateral cooperation between the countries." Currently, Canada is considered one of the countries with the best ecosystem for developing innovative projects and stands out mainly in artificial intelligence and the digital creative industry," emphasizes Frias.
According to Paulo Milliet Roque, this strategic partnership is welcome, given the potential for increased business between Brazil and Canada. "Canadian companies that wish to enter the Brazilian market will count on our support and expertise, as ABES provides different services to companies. It is a valuable networking space as we know the challenging regulatory environment in Brazil and the sources of innovation promotion, among others. Benefits," he pointed out.
In the assessment of the FCBB president, Sérgio Frias, Brazil and Canada have the potential to act in areas where there are many synergies between the two countries, such as in the software, aircraft, mining, and agribusiness industries, among others. "We have demonstrated to startup entrepreneurs and small and medium-sized companies that Canada is a path to internationalization, even to doing business in the United States, based on strategic planning. The Canadian market is very dynamic, and businesses in healthcare, environmental protection, and financial services are especially welcome", Frias.
A non-profit organization based in Toronto, FCBB's work model is through partnerships, such as the one just signed with ABES, which contribute to increasing bilateral trade between Brazil and Canada, with a focus on small and small startups, medium-sized companies and even individual entrepreneurs. These are business profiles aligned with around 70% of ABES associates. "We provide support, information about Canadian markets and regions, legislation, and connect the entrepreneur with partners who can provide back office services, carry out market research with lawyers, accountants, investors, and incubators, among others. Entrepreneurs save time and avoid unnecessary risks in the internationalization process", highlighted Sérgio Frias.
About ABES - ABES (Brazilian Association of Software Companies) aims to contribute to the construction of a more digital and less unequal Brazil, in which information technology plays a fundamental role in the democratization of knowledge and the creation of new opportunities for everyone. In this sense, it aims to ensure a business environment conducive to innovation, ethical, dynamic, sustainable, and globally competitive, always in line with its mission to connect, guide, protect and develop the Brazilian information technology market. ABES currently represents approximately 2,000 companies, accounting for about 85% of the software and services segment revenues in Brazil, distributed across 24 Brazilian states and the Federal District, responsible for generating more than 210,000 direct jobs and R＄80 billion annual revenue in 2020.
About FCBB - The Federation of Canadian-Brazilian Businesses (FCBB) is a non-profit entity founded in 2009 to stimulate bilateral trade between Canada and Brazil by supporting Small and Medium Enterprises (SMEs), Startups, and Entrepreneurs. Its mission is to strengthen and expand bilateral entrepreneurship, investment, and trade relations, acting at all levels of government, universities, associations, innovation, and business hubs. For this, FCBB promotes contact networks and public and exclusive events for its clients, such as seminars, conferences, receptions, and meetings. Each case is handled individually. Under the presidency of the engineer and executive Sergio Frias, the entity currently brings together around 100 professionals in various fields of activity in Brazil and Canada. For more information, visit https://fcbb.org/
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