Founders Factory arrives in Brazil in collaboration with Qintess
Qintess, Brazilian IT and digital transformation group, recognized as one of 100 most innovative companies in Brazil in 2020, announced a 12-month collaboration with Founders Factory, a leading global venture builder and investor. The agreement aims to bring Latin American corporates a globally proven program for discovering, scaling and co-creating new strategic technology startups.
The collaboration will start in October 2020, and will be the first time Founders Factory will be working with corporates in Latin America, having previously opened hubs in London, Johannesburg, New York, and Paris.
The union between Founders Factory and Qintess will provide an unprecedented opportunity for corporates in the region to gain access to the most innovative startups from around the world, identify opportunities to co-build new startups from scratch, and upskill internal teams with startup methodologies through workshops and collaborations. This will be additive to Qintess' expertise and experience in agile automation, analytics & decision science, and experience management.
Nana Baffour, CEO, Chairman & Chief Culture Officer of Qintess said: "At present, the growth of our tech ecosystem is hampered by a lack of connections between corporates and startups. They need each other to innovate industries and for startups, corporate partnerships are crucial to facilitate their growth. We want to break down the barriers and guarantee a more global perspective at local innovation initiatives. We aim to develop an ecosystem that puts Latin America at the forefront and consequently scale globally"
In this first program between Founders Factory and Qintess, Brazilian corporates enrolled on the programme will have access to workshops on venture building, connection and partnership with key startups in their sector, plus insights across key innovation trends in their sector. The members will also get to know in-depth cases of the union between global companies and startups and best practices in how to maximize success in collaboration.
Founders Factory is currently building over 20 new technology companies a year with its corporate partners. To validate ideas at scale it has honed a rapid Venture Design process matching corporate assets, insights and strategic priorities with large unmet market opportunities where transformational new businesses could be thrive.
Over the past four years Founders Factory has worked with its partners to build over 35 startups from scratch and to invest and scale a further 140 strategic early stage innovative technology businesses. This has been a model that Founders Factory has seen success in with partners including Aviva, Reckitt Benckiser, L'Oreal, Johnson & Johnson Innovation - JJDC, Inc., and Standard Bank.
Nick le Fevre, Director of Partnerships at Founders Factory, said: "Brazil has been an exciting opportunity for technology and innovation, and we are eager to start work with Qintess to facilitate meaningful collaborations between Brazilian corporates and the most exciting startups in their industries. We have good experience to lean on; to date we have facilitated over 200 partnerships between startups and our corporate partners, with 36% of these becoming long-term commercial engagements and we're excited to bring this expertise to the Brazilian market."