São Paulo startup awarded in Macau innovation competition
Nominated by InvestSP to participate in an international competition, BIOO stood out in the competitionInvestSP
BIOO, a startup working in artificial intelligence for the healthcare area, was featured in the “Innovation and Entrepreneurship Competition for Technological Companies of Brazil and Portugal” promoted by the Macau government. It received a prize of MOP 30,000, approximately BRL 20,000, and a subsidy for a roadshow within the Chinese autonomous region in the second half of 2022.
One of the objectives of the competition was to bring the innovation community of Portuguese and Mandarin-speaking countries closer, promoting Macau as a launch center for startups wishing to do business in China. The focus was technological solutions for the medical area, big data, fintech, smart cities, and artificial intelligence.
InvestSP was one of the Brazilian partners of the Macau government for the selection and nomination of competitors. Angel investor groups, from the São Paulo agency's network of contacts, selected startups with the potential to participate in the competition. After an adequacy analysis, BIOO and Asel Tech were entered into the competition by InvestSP.
“Innovation and internationalization are paths for the new economy and the development of São Paulo. That's why InvestSP has carried out actions to promote state companies around the world. Our startups' solutions have the potential to compete and win the most demanding international markets,” stated Gustavo Junqueira, president of InvestSP.
Awarded in the competition, BIOO’s innovative solution uses artificial intelligence to analyze data and predict the occurrence of diabetic foot, a complication that affects 30% of people with diabetes. Mortality in this group is five times higher than in diabetic patients without foot complications. Worldwide, there are 500 million people with diabetes, which makes the startup's solution have the potential for global scale.
“InvestSP's help was essential to open the doors to this competition. The award represents a seal of quality; it will help us to grow in a very large and competitive market. We are preparing for the startup's internationalization. Our first focus is Latin America, but the roadshow we intend to do in Macau can show us new paths,” said Bruno Massa, BIOO CEO and co-founder.
Supporting the internationalization of São Paulo startups is part of InvestSP's strategy to develop the innovation ecosystem of the state. The agency runs the SP Global program, which will expedite the entry of startups into other countries. Recently, the agency, in partnership with IdeaGov (open innovation hub of São Paulo State Government) and BrazilLan, arranged for five startups to give presentations in the “CivTech Alliance Global Scale-up Program” held during COP26.