The Ministry of Industry, Foreign Trade and Services (MDIC) signed a cooperation agreement with SAP, a multinational company, to encourage the development of startups in Brazil.
The software multinational will invest R$ 40 million in the country over five years. The funds will be focused on creating digital services and utilizing Internet of Things (IoT) solutions for agribusiness.
The amount will be invested in SAP’s Research and Development Center in Brazil, located in the city of São Leopoldo (state of Rio Grande do Sul). The company expects to create 600 job openings to sustain its growth in the country.
For the Minister of MDIC, Marcos Pereira (photo), the cooperation agreement will bring more efficiency to Brazil’s agricultural sector. “With this agreement, SAP has committed to establishing a support network for startups and small businesses and to sharing best practices that can help Brazil on its path to greater efficiency in agricultural production and in sectors that benefit from it, such as transportation and logistics,” said Marcos Pereira.