Facebook to open São Paulo innovation center, start-up incubator

Monday, August 28, 2017

Facebook is set to open its Hack Station in São Paulo in December, a 1,000m2 space that will work as an incubator for start-ups and will also be the company's first training center for programmers and entrepreneurs in the world.

Training will be focused on lower-income young people with lack of expertise in programming.

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According to local media reports, the objective is to offer approximately 7,400 scholarships in the areas of programming, digital marketing and business management for young people in the first year.

The center was presented on Monday by Diego Dzodan (pictured), VP of Facebook for Latin America. Investment figures were not disclosed.

This is not Facebook's first initiative targeting Brazil's entrepreneurial scene. In March 2014, the company opened an entrepreneurship lab for micro and small businesses in the Heliópolis neighborhood of São Paulo and, in December 2015, it announced a similar initiative in Rio de Janeiro favelas in partnership with the NGO Cufa (central union of favelas).

With this innovation center, Facebook also joins a rising trend in Brazil and among companies such as Google, which opened Latin America's first start-up innovation "campus" in São Paulo, and Itaú Unibanco, which has , the Cubo co-working space in Brazil's financial capital in partnership with venture capital firm Redpoint Ventures.

Last week, Itaú announced that Cubo will migrate to a new site and quadruple in size next year.