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Contxto – Early-stage Brazilian startups have until January 12 to submit project proposals to the young acceleration program, Overdrives. Affiliated with Ser Educacional, a Brazilian higher education group, the event will cater to ventures with minimal traction.
In other words, candidates will need an initial product in the market, in addition to preliminary customers.
Regardless of the industry or city of origin, Brazilian startups can look forward to a six-month-long accelerator in Recife. While it will be fast-paced and intensive, there will be plenty of incentives. Some of these include one-on-one mentorships, exposure to investors, professional training, as well as a lot of expert industry insight to go around.
For coordinators, this mix could yield some magical results in terms of startup growth.
“The combination of goals, intense monitoring, hours of shared technical knowledge, open office, investment, and easy market connections make the Overdrives acceleration program a strategic step in the startups’ journey,” said Innovation Center head, Luiz Gomes.
Overdrives accelerator in Brazil
In reference to a recent press release, this accelerator will also prioritize certain methodologies, including strategic decision making, review of business models, plus best practices for startup development. Regardless of the sector, the program urges any and all startups with innovative visions to apply.
Lucky participants can also anticipate financial contributions ranging up to R$100,000 (over US$24,000) not to mention returns ranging up to 14 percent in shares.
Despite being less than two years old, Overdrives has already managed to hold two acceleration cohorts. In total, it has supported eight startups from eight distinctive markets. Even before 2020, it plans to hold two more application cycles, all for the sake of empowering Brazilian entrepreneurs.
According to Gomes, he intends to provide a higher capacity for these future calls with groups of 10 startups. Upping the ante, there will also reportedly be R$1 million collectively available.