Qintess invests millions to boost diversity in Brazil

Qintess, one of Brazil’s top IT firms, has announced that it will invest R$10 million to boost diversity, entrepreneurship and social innovation in the country over the next five years. Vale do Dendê, an entrepreneurial innovation centre based in the city of Salvador, will be the first organisation to receive funding. Resources for training and seed capital “will be provided to young Afro-descendant-led startups and businesses focused on cultivating diversity and creating growth in this area”, confirmed Qintess.

The national initiative, spearheaded by Qintess, seeks to increase the number of entrepreneurs in the tech industry who are of African descent, from the LGBTI+ community and/or are disabled, including people from other marginalised communities. It also seeks to help small businesses make the transition to digital in order to remain viable during and after the Coronavirus pandemic. 

SUPPORTING MARGINALISED ENTREPRENEURS

Collaborative businesses, gaming companies and digital startups will be supported with training, global and national mentorship, as well as with access to seed capital. Qintess said it selected Vale do Dendê as its strategic partner in the social business space “because of its successful track record with regard to organising and supporting entrepreneurs from marginalised communities”. According to Qintess, “they are one of Brazil’s leaders among businesses focused on social impact.” Vale do Dendê focuses on the Northeast of Brazil, which is desperate for investment. It’s hoped that the partnership will result in the establishment of new innovation hubs mirroring the ones currently in place at Vale do Dendê. They are planned in every capital where Qintess is located, including São Paulo, Rio de Janeiro, Belo Horizonte, Porto Alegre, Curitiba and Fortaleza, added the IT firm.

As part of the strategic partnership, Qintess will be sponsoring Vale do Dendê to ensure that the organisational culture and vision created by its founders is cultivated and given the opportunity to grow and expand. “This initiative is coherent with my philosophy. It is fundamental for the companies to develop and implement concrete actions instead of only talking about diversity and inclusion”, stated Nana Baffour, CEO, Chairman and Culture Chief Officer at Qintess.

Qintess aims to have 2,000 young people from marginalised communities virtually trained in coding within the next five years. The company also looks to accelerate 500 companies by leveraging professional mentors with great market experience as well as their relationships with investors. Fifty of these companies will have access to Qintess’ company fund of R$2.5 million as seed capital to scale their businesses, added the IT firm.

PROMOTING SUSTAINABLE GROWTH

According to Lauro Chacon, Vice-President of Qintess Human Capital, this initiative meets the company’s strategies in considering ESG practices in order to promote sustainable growth. “We are an organisation oriented to people and we use best environmental, social and corporate governance practices to guide our business. When establishing a partnership such as this one, it is important to reinforce our commitment to promoting diversity, to speeding up innovation and to contributing to all of our clients, collaborators and stakeholder ecosystems, as well as to society as a whole,” he stated.

Qintess’ executives and its team of collaborators will bring new digital technologies and management techniques to increase Vale do Dendê’s scalability. Valde do Dendê has been operating an acceleration programme since 2018. This initiative, which operated out of a physical hub inside one of the biggest bus and subway stations in Salvador, has already benefitted 90 startup companies.

“It is a moment of celebration and pride! I have no doubt that all of the legacy built by Vale do Dendê for Salvadorand Brazil’s ecosystem will be strengthened by this partnership,” stated Ítala Herta, Vale do Dendê’s Co-Founder.

DEVELOPING BRAZIL’S POTENTIAL

“This partnership with Qintess confirms our bet on the importance of Salvador’s outskirts in particular, and of the Northeast in general, in the development of a creative economy and of innovation in Brazil. I believe the country will not fulfill its destiny of being a great nation if it is not capable of integrating young Afro-Brazilians into sustainable development,” added Rosenildo Ferreira, Co-Founder and Innovation and Marketing Director of Vale do Dendê.  

Adding to his comments, Paulo Rogério Nunes, co-founder and Executive Director of Vale do Dendê, stated: “We are very happy to be entering in this agreement with Qintess. We believe that because Qintess is a great technology company with great investment capacity, it can support our dream and allow it to thrive for many years, expanding on the work we have started.” 

Teams involving Qintess’ and Vale do Dendê’s executives and collaborators are beginning their joint activities this month. The plan is to implement more than one round of acceleration and of training courses in the technology sector for young people, which will be in operation until the end of the year. Roberto Silva, Qintess Regional Director for The Northeast and Minas Gerais, believes that the partnership makes Vale do Dendê the protagonist in digital transformation for the region. “We are very proud of this partnership because we are going to bring together social entrepreneurship and cutting-edge technology to promote responsible practices,” he confirmed.