Side event during Web Summit Rio: Scaling AI-based business models in Brazil

Considering the rapidly evolving regulations on emerging technologies worldwide, it can be difficult for businesses, especially startups, to navigate through those regulations to enter foreign markets. Brazil is one of many countries that develops new regulatory measures which may impact startups’ business strategies.

To exchange on this topic, the Secretariat for the Digital Dialogues and its partners organised the event “Scaling AI-based business models in Brazil” at the Consulate of Portugal in Rio de Janeiro. During the event, European startups highlighted the challenges they encounter when expanding their business to Brazil.

Representatives from the public sector and academia also attended the event and provided multifaceted insights into the Brazilian innovation ecosystem. In a subsequent networking session, the different stakeholders could connect and further discuss the Brazilian AI market.

Insights from public authorities

The Consul General of Portugal in Rio de Janeiro, Gabriela Soares de Albergaria, opened the event along with other representatives from Portugal, including the president of the Portuguese Chamber of Commerce and Industry in Rio de Janeiro, António Montenegro Fiúza, and the board member of the Portuguese Agency for Investment and Foreign Trade (AICEP), Luís Rebelo de Sousa.

Jean-Pierre Bou, Deputy Head of the Delegation of the European Union to Brazil, and Irina Soeffky, Deputy Director General at the German Federal Ministry for Digital and Transport (BMDV) also attended the event. In his speech, Jean-Pierre Bou highlighted the importance of regulating AI while fostering innovation. He drew parallels between Brazil and Europe, identifying common challenges and opportunities. Emphasising the importance of SMEs and start-ups, he also presented EU initiatives aimed at balancing innovation and regulation as well as promoting ethical and reliable AI.

The speakers delved into a range of topics, discussing how AI-based business models can be promoted in Brazil. The discourse on AI regulation in Brazil provided insights into the ever-evolving landscape of the sector, highlighting both its challenges and its potential for international investment.

Exchange on talent acquisition and funding opportunities

Celso Camilo (Vice President of the Artificial Intelligence Center of Excellence, Federal University of Goias, UFG), Laura Mattos and Caroline Bellacosa (Innovation and Technology Department, Lemann Foundation) and Daniela Fierro (International Sales Manager, Sterna International Business) then took part in a panel discussion on "AI skills and talent in Brazil". The speakers discussed strategies to support startups entering the Brazilian market, mainly related to Brazilian regulations and how to work with NGOs and universities to recruit talent. They also exchanged views on how to empower local professionals who want to work in AI-based companies. In the end, they agreed on the importance of education and continuous professional development in order to have a successful innovation ecosystem.

Finally, Filipe Borsato, Head of Fund Investments at the Brazilian Development Bank (BNDES), presented funding and investment opportunities that are available to European startups that aim to expand their businesses to Brazil.

 

About the EU-Brazil Digital Dialogue

In 2023, the EU-Brazil Digital Dialogue and Partnership Facility was established to advance the partnership between the European Union and Brazil on digital policy. It is part of the Team Europe Initiative Brazil and facilitates the implementation of follow-up activities of the EU-Brazil Dialogue on Information Society and Digital Economy (DISDE). The dialogue is supported by GIZ as part of a joint action between the EU Delegation to Brazil and the German Federal Ministry for Digital and Transport (BMDV).

The EU-Brazil Digital Dialogue aims to promote policy harmonisation and regulatory exchange across policies dealing with digital technologies. It also fosters private sector cooperation between the European Union and Brazil through the organisation of B2B networking events, among other activities.