Rio 2013 Blog: Can Silicon Valley be Recreated in Latin America?

Partipicants of the second panel during AS/COA's Rio conference came to the conclusion that the Brazilian city doesn't necessarily need to become a Silicon Valley, but that it should embrace entrepreneurship. Kevin Efrusy, a partner at Accel, added that the idea of Silicon Valley can be adapted to local conditions. He explained that in his view, the government "should get out of the way" by eliminating red tape and lowering taxes.

Labor laws limit growth: startups are roller coasters and need flexibility to hire and fire employees. By @kefrusy in @ascoa

— Gustavo Guida Reis (@gusguida) April 11, 2013

Scott Cutler, executive vice president of global listing at NYSE Euronext, said that Brazil's job creation should come from entrepreneurs. In the United States, he noted, 90 percent of job creation comes from small- and medium-sized enterprises (SMEs). Juliano Seabra, managing director of Endeavor Brasil, added that 1.3 percent of high-growth companies—many of which are SMEs—create 57 percent of new jobs in Brazil.

Felipe Matos, chief operations officer of Startup Brasil, stressed the importance of changing culture to encourage entrepreneurship. Brazil's Y Generation is more entrepreneurial, he said, which will help build startup networks.

By empowering startup ecosystem, Brazil will have empowered entrepreneurs to have voices heard in govt - @felipematos of @startup_br #techrj

— AS/COA Online (@ascoa) April 11, 2013

Watch the video below.

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