Brazil is ready for digital leap, says study

MOUNTAIN VIEW/USA-the Brazilian is ready for the digital revolution, but the country faces challenges ranging from lack of infrastructure, low investment in the technology sector and low productivity. Is that points made by Mckinsey report, in partnership with Brazil at Silicon Valley, Conference organized by Brazilian students from Stanford University with the goal of using innovation and technology to help increase the competitiveness of the country. The event takes place in Mountain View, California, at the computer History Museum, one of the icons of Silicon Valley. "Is the first major survey of the sector in the Country. Provides an overview of important, which answers many of the questions that many investors make me, "says Hugo Barra, Vice President of virtual reality of Facebook, and sponsor of the event. "We have advanced a lot, just remember the eight unicorns (startups valued at more than $ $1 billion) that were born in Brazil last year. But we have a lot to do. " The country has 67% of the population with internet access, is the second that uses social networking: it's about 9 hours a day plugged. However, the average speed of the internet, of 13 Mpbs, is well below the global average of 31 Mpbs. Although it is the second or third largest market giants such as Facebook, Netflix and WhatsApp, Brazil has struggled to attract more robust operations e-commerce giants like Amazon. "There is a problem of logistics. The last mile in the country for reasons of infrastructure or even security, is complicated. This makes the operation, "says Nicola Calicchio, one of those responsible for the research. The Brazil also has little representation of the technology sector in the stock market. While in the United States the first five placed belong to the sector, the Brazilian ranking has no representative. In China, the two largest companies in the country are tech giants. The bureaucracy also is an obstacle. The Country is among the least favourable to the opening of new business, on 109 position in the World Bank ranking. "This is very harmful to an area in which fail part of the deal and you have to turn the page quickly," says Calicchio. The study shows, however, that the fintechs are among the best examples of innovation in the country: from 50 to 400 in three years. 7 million customers have opened accounts in banks.