Bradesco launched the fourth edition of inovaBra Startups, an open innovation program that gives startups the opportunity to work with real customers, test solutions in practice and grow with scale, as they can work with the Bank’s 69 million customers , in more than 60 thousand service points. Interested parties can apply for the program through the website www.inovabra.com.br/startups, in the period from October 17 to November 26, 2017.
According to the assistant director of Bradesco, Luca Cavalcanti, inovaBra startups is a way of enabling innovation inside and outside the Bank. “We realized that innovating in a collaborative way gives us more breadth and agility to address the constant challenges of the business areas. Corporations have a common dilemma: invest internally in innovation or buy technologies from other companies. Restricting yourself to the first option is a risk, because no one knows where the next big thing comes from. The second option is also risky because it threatens to atrophy the internal culture of research and development. The ideal is to keep these two forces in balance”, says Cavalcanti.
Interested parties must present innovative projects by startups in any segment that have applicable solutions or with the possibility of adaptation to the financial segment, mainly related to products and services, retail, digital channels, means of payment, insurance, and that address challenges in the following topics: payments, algorithms, security, customer engagement, financial management, investment platforms, crowdfunding, mass customization, IOT, blockchain and artificial intelligence.
inovaBra startups – step by step
The program lasts 10 months, four of which are for the selection process and six months for the interaction process with the Bank, including improvements in management, search for strategic, operational and marketing synergy.
The first phase consists of three steps:
First: dissemination of the program and registration of companies.
Second: selection of up to 40 startups through the evaluation of the questionnaire filled in by the companies during registration. These companies will undergo an immersion process to get to know the Bank and will be evaluated on the following criteria: team qualification, value generation potential, delivery capacity, innovation potential and risk measurement.
Third: 20 startups will be selected to be evaluated by a group of Bank executives.
Of these, about 10 companies proceed to the project design phase, in which they will receive guidance regarding a demand associated with a real need for the Bank. Consequently, they will be supported in the development of the product or service and adaptation of the solution to Bradesco's environment. At the end of the program, companies will be able to sell their products to Bradesco, which, in turn, may also be an investor in these startups.
Previous editions
The first three editions of inovaBra startups had the registration of 1,606 companies and 20 of them reached the end of the program, successfully completing the formatting of the Minimum Viable Product (MVP) of their solutions to adapt to the Bank's needs. The ten startups participating in the third edition are still in the design phase of the project. Are they:
– Axei Saúde (São Paulo – SP) – Marketing of health plans
– Mei Fácil (Londrina – PR) – Business management for individual micro entrepreneurs (MEI)
– Field Control (São José do Rio Preto – SP) – Management of service providers
– Flowsense (São Paulo – SP) – Geolocation and customer engagement platform
– Folha Certa (São Paulo – SP) – People and workload management through mobile application
– Futuritos (São Caetano do Sul – SP) – Engagement platform for private pension plans with emotional appeal
– Laura Networks (Curitiba – PR) – Artificial intelligence platform for risk management
– Nuveo (São Paulo – SP) – Artificial intelligence solution for capturing and interpreting information in documents
– RemédioCerto (São Paulo – SP) – Platform for subscription and commercialization of medicines for continuous use
– SQUID (São Paulo – SP) – Engagement and relationship solution with micro social media influencers
Field Control, from São José do Rio Preto (SP), was one of the startups selected in the third edition of inovaBra. “The exchange of experiences in the program is very rich. The immersion phase is incredible, because in a week the business evolves, which would take months to structure. The Proof of Concept development project is agile and a unique opportunity to test a solution. On the one hand, the corporation that drives a more robust formatting of a business at an early stage and on the other, the possibility of applying something new with high speed”, says the CEO of Field Control, Eduardo Santos.
For Allgoo, from São José dos Campos (SP), a participant in the second edition of inovaBra, the program also provided growth. “For our startup, participating in inovaBra was a matter of life and death. Thanks to a lot of sweat from everyone involved, both Allgoo and Bradesco, today we are alive. We were selected for inovaBra startups when we were starting to present our solution to the market through a B2C approach. After the program, we pivoted our model to B2B and today we have 17 financial institutions as clients. Our company had four employees, and we already have 21”, reports Allgoo CEO Rodrigo Ubaldo.
Service
Registration: until 11/26/2017
Where to apply: www.inovabra.com.br/startups
Who can participate: Startups that have at least operational or beta solutions ready for experimentation
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