Partnership with Canadian agency will make available up to C$1 billion for Brazil Hub company projects
By Sérgio Siscaro
The Chamber of Commerce Brazil-Canada (CCBC) has just signed a memorandum of understanding with Mitacs, a Canadian agency that operates in the development of scientific research linked to industrial and social innovation. Through this agreement, Brazilian companies participating in the Brazil Hub – an initiative of the Chamber aimed at supporting internationalization processes – will now be able to develop research and development projects and initiatives in conjunction with Canadian universities and study centers, with access to a line of funding of C$ 1 billion by 2025.
“Our expectation is that, through this partnership, the companies that are members of the Brazil Hub will have the opportunity to enjoy the Canadian innovation ecosystem, improving their products and services quickly and agilely, including counting on support in Portuguese,” highlights Paulo de Castro Reis, CCBC’s Director of Institutional Relations.
The amount made available by the partnership with Mitacs will be used to meet the costs of developing new solutions and services, by working together with academics from the most prestigious educational and research institutions in Canada. The non-profit agency is part of the country’s innovation ecosystem, and for more than 20 years has contributed to the business development of several companies, funding cutting-edge innovations and creating job opportunities for students and post-docs.
The program is open to companies in all areas of activity; however, some sectors are seen as priorities by Mitacs, such as artificial intelligence, cybersecurity, cleantechs, quantum technology, and social innovation topics linked to indigenous issues. According to the Canadian agency’s rules, each project can count on up to 50% funding.
“Brazil has an incredible commercial diversity and, at the same time, Canada has technologies and innovations that will certainly benefit the business of Brazilian companies. The partnership signed with CCBC opens an immense range to promote commercial and scientific exchange between the countries,” says Daniel Caramori, director of Business Development at Mitacs. “The inclusion of Brazil in this international network will profoundly benefit both companies”, concludes the CEO of the Canadian agency, John Hepburn.
The agreement signed between CCBC and Mitacs is part of the Chamber’s strategy to promote economic and social development by bringing together public and private institutions from both countries. “We are confident that this partnership with Mitacs will be a long-lasting alliance, adding great value to the solid network of connections that CCBC has been building over the last 50 years, with tangible benefits for Brazilians and Canadians,” says Ronaldo Ramos, president of CCBC.
“Soft landing” in Canada
The Brazil Hub is CCBC’s initiative aimed at facilitating the installation of Brazilian companies in Canada and prospecting potential business partners. Participants have access to the Chamber’s contact network, which identifies potential partners for business or research and development (R&D) projects and clients in Canada.
Furthermore, market research is carried out, in order to determine the best strategy to be adopted by Brazilian companies that intend to enter the Canadian market, and networking events are held.