The Arab-Brazilian Chamber of Commerce (ABCC) has announced the opening of a new start-up incubator with launching of ABCC 4.0 Space to facilitate further trade growth momentum between Brazil and the Arab world.

The announcement was made in a webinar hosted by ABCC with the special participation of Marcos Pontes, Brazil’s Minister of Science, Technology, and Innovation.

During the event, ABCC unveiled three initiatives, namely the implementation of Ellos Platform to store all supply chain records digitally, the forming of the Innovation Committee to facilitate technology-related discussions, as well as the launching of the ABCC Lab, which is an incubator dedicated to start-ups planning to contribute to the continuous growth of the Arab and Brazilian markets.

Osmar Chohfi, President, ABCC, said: “The pandemic has spurred us to ramp up our digital transformation by exploring new technologies and frameworks through the Ellos blockchain platform, ABCC Lab, and the Innovation Committee, alongside virtual work setups and more to enhance business workflow.”

“With the launching of ABCC 4.0 Space, we aim to connect Brazilian and Arab ecosystems, as well as disseminate information and expand our operations further. We expect our respective communities to benefit greatly from ABCC 4.0 Space as we continue to implement better strategies to advance our economic and diplomatic agenda.

“As demonstrated by companies who achieved monumental success during the initial wave of the pandemic, investing in new manufacturing technologies is the key to maintaining production efficiency. We join the rest of the world in welcoming the fourth industrial revolution by integrating smart technologies and intelligent machines to automate processes, boost production quality, and minimize waste across our inter-continental trade community,” Chohfi added.

ABCC developed Ellos Platform as a distributed digital ledger to enhance its supply chain documentation, effectively tracking all information regarding any product being sold across the Brazilian and Arab markets, including all commercial, banking, trade, and export transactions from end to end.

Buyers will be able to access relevant product information upon scanning a QR code on its packaging, ensuring customer satisfaction and quality of goods. Within the blockchain, stakeholders will be able to review the involvement of manufacturers, transporters, point of sale (POS), and others through immutable data.

As an incubator for start-ups that aim to enter the Arab and Brazilian markets, ABCC Lab will focus on equipping start-ups with adequate training and promote networking among participants to improve the exchange of best practices in the innovation sector, and more.

Through the project, ABCC plans to enhance enterprise-grade technology and innovation within the Arab-Brazilian trade community. Meanwhile, the Innovation Committee will oversee all matters related to ABCC Lab’s progress and hold regular meetings to discuss trends and connect stakeholders. – TradeArabia News Service