SEED MG
Desenvolvimento do ecossistema de empreendedorismo e startups de minas gerais.
SEED MG, short for Startups and Entrepreneurship Ecosystem Development, operates as a government-backed accelerator program in Minas Gerais, Brazil. Launched in 2013, it was established to bolster the local innovation environment by supporting technology-focused startups. The initiative is a key component of the Minas Digital Program and receives direction from the State Secretariat for Economic Development, Science, Technology and Higher Education, with funding from the Minas Gerais Research Support Foundation (FAPEMIG). SEED stands out as Brazil's first accelerator financed entirely by public funds.
The program's core function is to accelerate early-stage ventures by providing a comprehensive support structure. Participating startups gain access to mentorship from industry experts, entrepreneurial training, and extensive networking opportunities within the local ecosystem. A significant financial incentive is the equity-free seed capital of up to R$80,000 per company. Additionally, the program offers co-working space at its headquarters in Belo Horizonte and provides access to a substantial package of perks and services from partner companies to reduce operational costs for the startups. In return for the support, entrepreneurs are required to engage in social impact activities, sharing their knowledge and experiences through workshops and seminars to foster a broader entrepreneurial culture in Minas Gerais.
SEED MG targets both Brazilian and international entrepreneurs who are willing to develop their businesses in Minas Gerais. The program focuses on startups in the information technology and services sector, among other innovative fields. Its business model is not for profit; rather, it's a strategic governmental investment aimed at diversifying the state's economy and strengthening its position as a technology hub. The success of the accelerator is measured by the growth of its portfolio companies, which have included ventures like Survey Kiwi, Vitau Automation, and Shippify.
Keywords: startup accelerator, Brazil, Minas Gerais, government funding, seed capital, entrepreneurship development, technology startups, public-private partnership, innovation ecosystem, mentorship, equity-free funding, Belo Horizonte, economic development, information technology, networking, business acceleration, social impact, international entrepreneurs, Latin America, innovation hub
