Welcome to this week’s news round-up on the Brazilian innovation and technology ecosystem. Here is a selection of key developments in Latin America’s largest economy during the week ending April, 3, 2020:
Quero Educação predicts more Brazilian students will face difficulties in paying for their tuition … [+]
Quero supports private education providers through crisis
Private higher education firms are expected to see a 20% revenue drop in the period between June and September this year, according to Quero Educação, a Brazilian startup that provides technology to the sector. The edtech, owner of a marketplace that connects students to private education providers, predicts a greater number of students won’t manage to keep up their financial commitments in education over the period, compared to the same period in 2019.
According to Quero, one of the issues faced by colleges relates to student requests to reduce the tuition fees for face-to-face courses, which are now being taught online due to the pandemic. The edtech noted that the cost of “traditional” degrees is, on average, twice as high as the distance education courses.
“A lot has been said about how to migrate classes to the distance education model, but the big challenge is no longer related to where to teach classes, but how to reduce default rates, avoid dropouts and continue enrolling students remotely”, says Flávio Rabelo, financial services director at the startup.
To help colleges continue to sign up students during the crisis, Quero released free use of its enrollment platform, which allows candidates to take entrance exams, send documents and do the enrollment process remotely. In addition, the startup is offering an insurance product that covers up to 4 months of tuition fees, available as a product to colleges which can be offered to students.
More people are looking to do deliveries via iFood to earn a living
iFood sees courier numbers soar
Brazil’s largest food delivery app, iFood, saw job applications double after the coronavirus crisis hit. According to the company, delivery partner job inquiries doubled in March with 175,000 applications amid growing concerns about a potential recession.
The number of restaurants working with iFood increased to 160,000 in March (up from 142,000 in February). The startup has 140,000 delivery partners plugged into into its own network, plus 200,000 couriers serving a specific network of restaurants.
Demand for grocery deliveries via the iFood platform surged by 400% during March, according to the startup.
Ribon enables users to donate without using cash
Ribon enables donations to communities in need
Brazilian startup Ribon is enabling donations to vulnerable communities without the need to spend cash. The platform converts ads into financial contributions: by consuming content sponsored by companies on the platform, users earn “ribons”, credits that can be converted into donations to non-profits that are supporting communities affected by the coronavirus crisis.
Companies that partnered with Ribon include Brazilian clothing giant Malwee and meditation app Lojong. The startup is led by Rafael Rodeiro, one of the young entrepreneurs featured on Forbes Brazil’s Under 30 cohort of 2019.
Some Brazilian tech-enabled businesses are feeling the impact of the coronavirus crisis and announced layoffs this week. Corporate gym subscription service Gympass had to restructure its operation. Air travel marketplace MaxMilhas also announced a significant reduction of its workforce.