The Arab-Brazilian Chamber of Commerce (ABCC) is opening a new startup incubator with the launching of ABCC 4.0 Space to facilitate further trade growth momentum between Brazil and the Arab world.
The launch of the startup incubator was made in a webinar hosted by ABCC with the special participation of Mr. Marcos Pontes, Brazil’s Minister of Science, Technology, and Innovation. During the event, ABCC unveiled three initiatives, namely the implementation of Ellos Platform to store all supply chain records digitally, the forming of the Innovation Committee to facilitate technology-related discussions, as well as the launching of the ABCC Lab, which is an incubator dedicated to startup planning to contribute to the continuous growth of the Arab and Brazilian markets.
“The pandemic has spurred us to ramp up our digital transformation by exploring new technologies and frameworks through the Ellos blockchain platform, ABCC Lab, and the Innovation Committee, alongside virtual work setups and more to enhance business workflow. With the launching of ABCC 4.0 Space, we aim to connect Brazilian and Arab ecosystems, as well as disseminate information and expand our operations further. As demonstrated by companies who achieved monumental success during the initial wave of the pandemic, investing in new manufacturing technologies is the key to maintaining production efficiency.”
As a startup incubator that aims to enter the Arab and Brazilian markets, ABCC Lab will focus on equipping startups with adequate training and promote networking among participants to improve the exchange of best practices in the innovation sector, and more.
Through the project, ABCC plans to enhance enterprise-grade technology and innovation within the Arab-Brazilian trade community. Meanwhile, the Innovation Committee will oversee all matters related to ABCC Lab’s progress and hold regular meetings to discuss trends and connect stakeholders.
ABCC developed Ellos Platform as a distributed digital ledger to enhance its supply chain documentation, effectively tracking all information regarding any product being sold across the Brazilian and Arab markets, including all commercial, banking, trade, and export transactions from end to end.