Brazilian construction giants create start-up acceleration program

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Tuesday, December 13, 2016

Four major Brazilian companies – Gerdau, InterCement, Tigre and Vedacit – all linked to the construction industry, have launched a joint initiative for the acceleration of start-ups in the country.

Called Work In Progress (WiP), the program is being overseen by Latin American start-up acceleration company ACE and will have an initial investment of 2.5mn reais (US$750,000).

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The focus will be projects related to improving infrastructure in large Brazilian cities with solutions that increase the quality of life of inhabitants while being sustainable and efficient. The solutions sought are those aimed at efficiency and monitoring of households; innovation and optimization of inputs for civil construction; and business intelligence for real estate loans, among others.

Submissions are opened until January 9. In an initial phase, six companies will be selected to receive mentoring. The incubation period is slated to begin in April.

Registration and further information can be found at goace.vc.