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Editor's Notes

1. Welcome everybody . It’s a pleasure to have all of you here today in Rio de Janeiro … a Cidade Maravilhosa. My name is Benjamin White … New Yorker , entrepreneur and founder of 21212.
2. My name is Benjamin White … New Yorker , entrepreneur and founder of 21212. And I’m Marcelo Sales, Carioca entrepreneur and founder of 21212 and I’m really happy...
3. My name is Benjamin White … New Yorker , entrepreneur and founder of 21212. And I’m Marcelo Sales, Carioca entrepreneur and founder of 21212 and I’m really happy...
4. I want to start with a thank you to our original partners and investors who put their faith in us when we started working on 21212 more than a year ago.
5. And a big thank you to the 19 startups that we’ve worked side-by-side with over the last year , who have have become our extended family.
6. And it’s amazing to have so many new people joining us today. We’re building a startup ecosystem together here in Brazil and we need to keep growing the community, sharing our knowledge and supporting each other. It’s a massive collaboration between entrepreneurs, mentors, investors, the media, and corporate sponsors … ALL of us here can play critical roles making it happen.
7. Last but not least we want to thank our entire group of supporting sponsors and partners, who understand the importance of supporting startups. We couldn’t make Demo Day happen without you.
8. We’ve had a total of * 19 companies in our first 2 programs . Since our first Demo Day in March, *11 of those companies have received outside capital totaling an amount of * $R5.5M REAIS. PagPop is one of the best success stories so far, having recently closed a round with Intel Capital.
9. The early results are very encouraging , BUT we have alot more work to do . We always tell our companies, in order to build the best product, you need to talk to your customers.
10. So, we took our own advice. In the past months we’ve talked to hundreds of investors and entrepreneurs to better understand what the market needed … and now, we are responding. We decided to make a few key changes to 21212 for next year so we could do more, faster and go bigger in 2013!
11. First off, we’ve decided to increase the number of programs from from *2 to 3 per year.
12. First off, we’ve decided to increase the number of programs from from *2 to 3 per year. Each program will still have around * 10 companies , SO now we’ll accelerate about * 30 startups per year.
13. Each program will still have around * 10 companies , SO now we’ll accelerate about * 30 startups per year.
14. NOW, we’re always veryclear with entrepreneurs that the real value of 21212 isn’t our cash investment, but our time, experience, team and network.
15. ... beginning in 2013 we’re increasing the amount of survival money for each company to up to R$50k (fifty thousand reais) -- depending on the number of team members.
16. In addition to more cash , we also be adding even more services from the 21212 team and partners like Amazon, Rackspace, Google, BooBox, and many others … Now totalling over R$250k (250 thousand reais) in value per company.
17. We will continue to work with pre-revenue startups that have great founding teams , but we’ll also seek companies with significant traction and revenue , who are in a better position to accelerate. Given the range of companies we’ll be working with, we’re also moving away from a one-size-fits-all approach to our equity participation. Instead we’ll have flexible terms   depending on the stage of the start-up and experience of the team.
18. To support this plan we’re happy to announce... ...that we’ve raised an additional $5M in capital for the 21212 Accelerator. (APPLAUSE).
19. ...that we’ve raised an additional $5M in capital for the 21212 Accelerator. (APPLAUSE). We’re really proud of the accomplishment and we’ve got some great new partners that will help us take the accelerator even further. BUT THAT’S NOT ALL. We want to do even more for entrepreneurs in Brazil. So today we are announcing the 21212 Fund.
20. So today we are announcing the 21212 Fund.
21. In 2013 we’ll be raising our first seed fund of +$50M. The 21212 Fund will focus on co-investments in seed and early stage and give us even more ways to support the best startups in Brazil. We’ll coinvest in the 21212 pipeline and also support the best startups from our friends at accelerators like NXTPlabs, Wayra, Treelabs, Pipa, Papaya and others.
22. The goal of the fund is to get more startups in Brazil prepared for larger Series A investments.
23. So, If you have a startup and you’re interested in participating, you can still apply right now for the next class at 21212.com. We’re also starting a “hacker in residence” program -- if you’re a top developer who’s passionate about entrepreneurship but don’t have a company yet, we’d love to make you a part of 21212.
24. We’d would like to invite all the staff, sponsors and mentors of 21212 to stand up now so we can salute you effort (Marcelo and Ben applaud) Now, I’d like to invite one of our mentors to the stage to talk a little bit about her experience with 21212. Adriana Cisneros is a dear friend and the Vice Chairman of the Cisneros Group of Companies -- one of the largest privately held media companies in the world. She is overseeing a major expansion of the company into new markets and into the digital space. She lives in NYC, but lots of time Venezuela, LATAMand truly embodies the multinational philosophy of 21212. Adriana ….