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Porto alegre located in the southernmost state of brazil rio grande do sul has a thriving startup scene the city has a population of over 14 million people and is known for its rich history of entrepreneurship the geography of the area is diverse with a mix of urban and rural areas making it an ideal location for startups in various industries the city has a long history of entrepreneurs with many successful companies founded in the area one of the most notable is gerdau a multinational steel company that was founded in porto alegre in 1901 other successful companies include zaffari a supermarket chain and lojas renner a fashion retailer porto alegre is also home to several universities including the federal university of rio grande do sul and the pontifical catholic university of rio grande do sul these universities have played a significant role in the development of the startup scene in the area providing a steady stream of talented graduates the living wage in porto alegre is around r2500 per month and the unemployment rate is currently at 95 the city level gdp is around r50 billion and the rate of new companies starting and ending is relatively stable despite the challenges posed by the covid19 pandemic the startup scene in porto alegre is thriving the city has a supportive ecosystem with several incubators and accelerators such as tecnopuc and raiar providing resources and mentorship to startups additionally the city government has implemented several initiatives to support entrepreneurship such as tax incentives and funding programs in conclusion porto alegres startup scene is thriving due to its rich history of entrepreneurship supportive ecosystem and diverse geography while there are challenges such as the current economic climate the citys commitment to supporting startups and fostering innovation has positioned it as a hub for entrepreneurship in brazil
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