Microsoft investing 100M in Rio de Janeiro

dollars

The city of Beaches and Carnivals is expected to get a new tag, the technological hub. The head of the Microsoft’s bazillion division Mr. Michel Levy expressed his view against the press and stated that they are hoping to stimulate an awesome flow of knowledge among Microsoft’s research teams, local research universities, emerging IT firms and their Brazilian market. A day before the press conference Microsoft had revealed their plan for spending $100 million to build a new research center in Rio.

This research laboratory will be the first advance technology research lab in Latin America and fourth worldwide. According to the Microsoft team, Rio center will also be used for gearing up the business start-ups and help facilitate operations for Microsoft’s Bing Search Engine.

They also addressed that 15 internet start-ups will be selected every two years to get financial, technological and administrative support from Microsoft. Each selected organization will be eligible for a financial support up to $500,000.

Although the  new laboratory will not be able to get started before the end of next year, the business accelerator program is going to be operational by Q2 of 2013.

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