Cubo is a Brazilian entrepreneurship hub con- Cubo has 55 resident startups in its facilities and necting startups with large corporates. Based in has contacted more than 850. To accelerate their CUBO São Paulo, it commenced operations in September growth, several startups have obtained invest- 2015, supported by two founder partners: Itaú ments in the amount of 150 million Reales and Unibanco and Redpoint Ventures. 70% of invoicing of certain startups is the result www.cubo.network of connections made by the hub. Since Cubo is a non-profit organization, its fi- nancing comes from other sponsors, as well as Cubo’s main purpose by the end of 2018 is to the fee paid by the startups to be residents of grow four times the company’s size to have 200 the platform that, for being an open platform, resident startups and forty sponsors. This goal enables entrepreneurs to connect with investors, is based on the construction of new facilities to outstanding corporates, universities and different house 2,000 visitors per day and more than 1,250 players interested in the innovation ecosystem. individuals working, published the company in a communication dated 2017. Some years after its launch, Cubo has trans- formed the Brazilian entrepreneur ecosystem, and startups, in turn, are revolutionizing the large organizations, thanks to their innovating vocation. A TWO-WAY PATH 86
Fintech in LATAM | EY | Startupbootcamp FinTech | IPADE Page 85 Page 87