Brazilian startups seek investments in the Persian Gulf

In the Persian Gulf, leaders of startups Coill, Fienile, Orbital, Youdz, Silva Schütz and EasyHash, and the Itaipu-Brasil Technological Park presented projects and met with potential investors, mentors and customers.

For Wallace Erick, CTO at Orbital, “people had to look more at this market, because there is a lot of money there too. There is a lot of knowledge there that they can pass on to us too. And people just focus more on the United States. But there are also many other places where we have more opportunities than we would have in the United States.”

Leonardo Machado, International Business analyst at the Chamber, said that the startups that participated in the immersion propose “ecosystems that have a lot of support from the (Arab) government, a lot of innovation and many opportunities”.

The executives involved in the meeting want to demystify the idea that Middle Eastern countries are closed. For Wallace, these countries often offer better business conditions for Brazilian startups than nations like the USA and the European Union. Orbital plans to innovate by taking projects off the ground in the promising gulf market.

“We are trying to take advantage of this concept of free zone (free zone) that they have a lot of there to be able to attract foreign capital, so that we can open our operation there as well as a technology company. People to focus a lot on this issue of startups, of getting the idea off the ground and there they finance a lot”, adds Wallace.