Intel plans to invest $152 million in Brazil over the next five years in research and development.
The cunning plan involves a partnership with the Brazilian government, which has made increasing the country’s software output a top priority. The direct investment will go toward increasing staff numbers and resources internally but also paying for research at seven Brazilian universities.
The Brazilian government is expected to match Intel’s investment. This follows a statement from President Dilma Rousseff last year which said the Brazilian government would spend at least $254 million to stimulate software development. That figure is seed finance for the scheme and is expected to grow. It does not include Brazil’s national development bank’s initiatives.
Brazil is Intel’s third-largest market and its venture capital arm, Intel Capital, has invested approximately $100 million in more than 25 companies in the area.