China, Brazil promote cross-boarder partnership of startups

China and Brazil are set to enhance their collaboration in promoting startups, with the signing of a memorandum of understanding in Shanghai for cross-border collaboration.

The Shanghai Technology Innovation Center (STIC) and the Brazilian Association of Startups (ABSTARTUPS) signed the MoU on Thursday, with the support and witness of the Shanghai Science and Technology Commission and the Consulate General of Brazil in Shanghai.

This partnership aims to strengthen cooperation between the two countries in innovation, and assist in the growth and development of startups in both countries.

The MoU is expected to provide opportunities for startups in China and Brazil, to collaborate and expand their businesses in each other's market, which is likely to drive innovation and entrepreneurship in both countries.

Representatives from both countries' startup communities, including Shanghai Zhangjiang Pharma Engine, Caohejing InnoClub, XNode, Hooven Biotechnology, and ApexBrazil, attended the event to share their insights and suggestions for cross-border collaboration in innovation and entrepreneurship.

STIC, founded in 1988, is a governmental innovation agency affiliated with the Shanghai Science and Technology Commission, which is tasked with implementing policies that support tech SMEs, coordinating technology transfer networking, and managing incubation processes.

While ABSTARTUPS, a non-profit organization, works to support the growth and development of startups in Brazil by providing access to resources, mentorships and networking opportunities.