Bradesco seeks financial services startups

Brazilian banking giant Bradesco has launched the fourth edition of its acceleration initiative aimed at financial services ventures.

The InovaBra project is open to receiving applications from startups developing products and services in areas including payments, security, client engagement, Internet of Things and blockchain.

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The program has a total duration of 10 months, with the selection process alone taking four months. Once selected, the ventures will receive guidance and improvement of their products and services - and will also have the chance to sell these offerings to Bradesco.

InovaBra has three selection stages, the first being an "immersion" process at the bank with 40 participating startups.

Some 20 ventures will then be closely scrutinized by the bank's executives, with the 10 finalists being supported in the development of their product or service, which could then be adapted to Bradesco's technology stack.

Some 1606 ventures applied for the previous three editions of the program, according to the bank. The last cohort of 10 ventures is still developing the concept of their offerings.

Entrepreneurs can apply to the acceleration scheme online until November 26.