Move over, China and India, IBM is betting that the next developing technology hotspot will be Brazil. The company has announced a new initiative to stimulate country’s developing technology sector. For starters, IBM will host its first-ever forum for São Paulo venture capitalists and entrepreneurs and FINEP, the Brazilian government organization dedicated to financing technological development. More than 100 investors and dozens of new companies seeking investment and business advice will attend.
IBM will also launch a Portuguese-language version of its developerWorks website, which provides teaching guides to help programmers build skills in Java, Linux, and IBM properties like Lotus. To host the event, IBM has dispatched Steve Mills, VP and group executive of IBM’s $20 billion Software Group, a clear sign of the growing importance of Brazil to the IBM portfolio. IBM will also send Claudia Fan Munce, managing director of IBM Venture Capital Group, who was raised in Brazil.
“We have been watching Brazil for a while,” Munce said. “The time is right.”