The Startup Ecosystem of Brazil

Brazil has 28 cities in the top 1000 and is one of the leading startup hubs in South America.

COUNTRY RANKING

Since 2023, Brazil lost 1 spot in the Global Startup Ecosystem Index, having now positioned itself as 27th worldwide.

Population

215.3
Million

Regional Ranking

1st
0
In South America

Global Ranking

27th
-
1
Worldwide

Ecosystem

Startup Ecosystem Overview

city during daytime
Brazil is a leading Latin American startup economy due to its massive size and market potential. The country has earned its place on the map with plenty of unicorns, such as Nuvemshop, Olist, and MadeiraMadeira. Large corporations contribute to the favorable startup climate by providing accelerator programs and incubators as well as strong funding opportunities. Headquartered within the ecosystem is Nubank, the largest financial technology bank in Latin America and one of the world’s largest digital financial services platforms. As of 2023, the bank was reported to have 80 million customers across Brazil, Mexico and Colombia, representing a 33% increase in its customer base.


To further advance its startup economy, Brazil can benefit from improvements in several areas. To name a few, reducing high-interest rates, improving the level of English proficiency, and executing much needed business reforms will unlock the country’s potential. It’s encouraging to see public policy initiatives such as InovAtiva Brasil, StartOut Brasil, and Capital Empreendedor, as well as new legal frameworks for startups that are aimed at supporting and promoting startup expansion. Brazil also boasts a number of government organizations, such as Invest.Rio, Invest São Paulo, and Agência Curitiba de Desenvolvimento e Inovação. that are involved in promoting the startup ecosystem and attracting investment.

For Brazil to maintain its startup ecosystem development and encourage more startups, public institutions should keep focusing on promoting the country to foreign investors and entrepreneurs. The fact that foreigners can now obtain a Permanent Visa (VIPER) indicates that the country is making progress. In addition, Brazil could benefit from further developing startup ecosystems in more cities across the country to foster innovation outside of Brazil’s major hubs.

Considering the vast potential of the market and a population of more than 200 million people, Brazil’s tech ecosystem meets all the prerequisites for rapid growth. This is demonstrated by a growing number of unicorns, most of which cater to the local market. As the country has the advantage of having vast areas of arable land, startups in the agricultural industry are gaining more traction. The government supports this sector, and initiatives such as Radar AgTech Brasil provide insights into how the sector has developed in recent years. We can only hope the pro-business climate endures while Brazil maintains, protects, and leverages the unique natural resources of this beautiful country to expand the reach of its startups beyond the local market.

Startups

Brazil Top Startup Industries

Fintech icon
Fintech
#16 worldwide

406 startups

Ecommerce & Retail icon
Ecommerce & Retail
#20 worldwide

251 startups

Transportation icon
Transportation
#20 worldwide

147 startups

Ecosystem HealthCheck

Brazil Ecosystem Health Check

The health check tables allow you to look at the performance Brazil has in each of the parameters that are part of StartupBlink's ranking algorithm. There are five tables, corresponding to the three subscores, the subscore analysis and industry ana...

  • Overperformance
  • Performance equal to global ranking
  • Underperformance
ParameterParameter Global rankParameter rank change since 2022ResultContribution to total scoreRank gain / loss due to parameter
Total Score27-19.606100%0
Quantity Score3601.56116.25%-2
Sample size of startups14111818.38%2
Sample size of accelerators1910501.06%1
Sample size of coworking spaces1115036.42%0
Community Score63N/A0.0220.23%0

ECOSYSTEM

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Ecosystem

The Startup Ecosystem in Brazil

Our startup ecosystem map for Brazil includes a sample of 1302 tech companies. We have identified as unicorns 17 startups that have passed the USD 1 billion valuations. Contributing to the vitality of this startup ecosystem are the 1 pantheon member entities.

Global Rank

Brazil is ranked within the top 30 startup ecosystems globally.

Top Industries

Brazil’s startup scene is best represented in Fintech, Ecommerce & Retail, and in and Transportation.

Top Cities for Startups in Brazil - Ranked by StartupBlink
StartupBlink ranks the startup ecosystems of 100 countries and 1,000 cities. Download our latest Global Startup Ecosystem Report.
Rows:
2023 National Rank & Change ▲
2023 National Rank & Change City
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Global Rank & ChangeTotal Score
Access subscores for 1000 cities and 100 countries
Quantity Score
Quality ScoreBusiness Score
1st
0
17th
-
1
34.831
00.00
00.00
00.00
2nd
0
140th
+
1
5.029
00.00
00.00
00.00
3rd
0
145th
+
35
4.498
00.00
00.00
00.00
4th
0
187th
+
28
3.241
00.00
00.00
00.00
5th
0
215th
+
25
2.444
00.00
00.00
00.00
6th
0
296th
+
26
1.390
00.00
00.00
00.00
7th
0
452nd
+
16
0.652
00.00
00.00
00.00
8th
0
463rd
+
57
0.581
00.00
00.00
00.00
9th
0
487th
+
82
0.522
00.00
00.00
00.00
10th
0
492nd
+
108
0.517
00.00
00.00
00.00
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Startups

Notable Startups in Brazil
Gupy startup icon
Gupy
Nuvem Shop startup icon
Nuvem Shop
Neon startup icon
Neon

Startups

Successful Fintech startups in Brazil
Neon startup icon
Neon
RecargaPay startup icon
RecargaPay
Remessa Online startup icon
Remessa Online

Featured Startup Ecosystems

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