RIO DE JANEIRO, BRAZIL – On Wednesday, August 18, a cooperation agreement with Uruguay will be signed at São Paulo City Hall to open that country’s market to startups from the city. The agreement will allow organizing a first investment round in September.
The partnership will be between São Paulo Negócios, a municipal investment promotion agency, and the Uruguayan Chamber of Information Technology, which the local government supports in its search for initiatives of this type. Discussions between the parties were led by the Consulate General of Uruguay in São Paulo.
The investment round should target startups classified as Series B, meaning that they already have a solid market position and are in a phase of business expansion.
The Uruguayan government will also partner with the São Paulo Tech Week festival, which is currently being redesigned to focus on networking and business. The 2021 edition is scheduled to take place between November 22 and 26.
São Paulo has the world’s 4th largest fintech ecosystem, while Uruguay’s capital Montevideo is the 2nd fastest-growing fintech city globally.
With this new collaboration, two of the most dynamic tech regions in all of Latin America are integrating.