iDEXO: New co-innovation institute between startups, entrepreneurs and the corporate world reaches the market
Today, a new initiative to promote entrepreneurship and innovation comes to market: iDEXO, a non-profit institute that aims to connect startups, entrepreneurs and developers to large companies in search of new business solutions. Created as an open innovation platform, the project aims to identify innovative ideas that have potential for adoption and exponential growth, give structure to the business and connect them to the market.
Unlike all other existing initiatives in Brazil, iDEXO will provide infrastructure and technologies (including APIs), apply the most modern global mentoring methodologies, and stimulate the possibility of investing in associated companies.
According to Gustavo Torres, general director of iDEXO, the idea is to create a great ecosystem based on the concept of co-innovation. That is, encouraging the connection between already consolidated companies of market with new entrepreneurs so that together they can innovate and create solutions to demands of organizations and several sectors. “It is still common to have a competition between companies and startups that appear in the market. We want to promote the exchange of ideas between them so that we can create solutions together that meet the real needs”, emphasizes Torres.
It all starts with selections, which will happen three times a year, for new entrepreneurs, whether startups or self-employed developers, who wish to join the institute and collaborate on the projects.
The iDEXO program lasts for three months. In this period, entrepreneurs will receive all technical support, infrastructure and mentoring needed to develop their products. In the end, they will have to present their projects to a bank, made up of market professionals and associated companies, who will choose the winners. Solutions that are already mature can receive investments from partner organizations to continue their business independently.
Creating a Global Ecosystem
One of the actions that will enable the institute to achieve its goals is the advice of Hyper Island, the world’s most renowned school of digital innovation focused on the development of creative thinking, which will work strongly on the mindset and culture of selected entrepreneurs. “We believe that creating spaces to accelerate experimentation and learning can generate very valuable direct and indirect benefits for our ecosystem as a whole. We are honored to be able to collaborate with this initiative, “says Nathalie Trutmann, Managing Director Latin America of Hyper Island.
The first startup to take advantage of these benefits is RetailApp Inc., a US-based retail technology company. The Miami-based company has achieved rapid international success with its platform designed to connect an entire organization within hours with key-performance indicators combined with social networking features. “We believe that the total is always better than the sum of all the individual parts. Experience has shown us that strategic alliances and working together with other companies are the way to move faster and in the right direction. Therefore, iDEXO is the best expression of this thought. We are very pleased to be the first company chosen for this project,” says Gonzalo Almada, CEO of RetailApp Inc.
In order to give the new businesses their first connections to the market, the institute has TOTVS, the largest technology provider in Latin America and one of the founders of the initiative, Banco ABC, a multiple bank specialized in the granting of credit and services to medium and large companies, and Soluti, a company specializing in digital certification. “We want to create a solid incentive program for entrepreneurship in Brazil, with the training of professionals prepared to adapt their business to an ever-changing world”, says Laércio Cosentino, CEO of TOTVS, speaking about the initiative to found the institute that it will function completely independently.
“We consider iDEXO an organized and unique ecosystem of innovation, uniting technology, market knowledge of associated corporations, and the creativity of startups and developers,” explains Sérgio Lulia Jacob, executive vice president of Banco ABC Brasil. “While providing the infrastructure, methodologies and tools ready to innovate, the initiative includes large companies pointing to the real demands of the market through the direct participation of their experienced executives,” he concludes.
Like TOTVS, Banco ABC and Soluti, any organization in Brazil or abroad can become an associate of the institute and seek to solve therein a problem of its operation or be close to opportunities of disruption.
In addition, the team of partners, such as the Government of Ontario, the main Canadian province, will support the international dissemination of the project and capture of startups, the Mobile Marketing Association (MMA) and the Brazilian Association of Fintechs (ABFintechs). “Business incubators are crucial to fostering innovation and connecting the new players who will be responsible for the future of the economy,” said Todd Barrett, the Ontario Commercial Advisor in Brazil.
“We applaud the initiative of iDEXO in fomenting the development of the ecosystem of startups and entrepreneurship in Brazil. I am sure that the synergies that we generate between the initiatives will strategically impact the digital marketing market,” says Fabiano Destri Lobo, MMA director for Latin America. Rodrigo Ubaldo, president of ABFintechs, also bets on the potential of business generation promoted by the institute: “Through this partnership, Fintechs with high potential for leverage can benefit from the unique development model proposed by iDEXO”, concludes Ubaldo.