Through inovabra, Bradesco has structured itself to address market challenges and movements, creating an ecosystem that accelerates innovation. We have built a full innovation ecosystem that stimulates innovation inside and outside Bradesco through collaborative activities with employees, business areas, clients, companies, startups, technological partners, investors and mentors, all in an effort to fulfill the needs of our customers and ensure long-term business sustainability. Inovabra is made up of a set of innovation channels to achieve various purposes:
The internal innovation program has been motivating our employees to intrapreneurship since 2012. Innovation projects are prioritized, structured and executed right from the design stage, all the way through the entire process of building the case and validating the business model. These are professionals from various areas who interact with one another and with startups and other participants in the innovation ecosystem, including major technology players. The focus is on generating innovative solutions to provide even better experiences to our clients, optimizing existing products and services, expanding into related businesses and tapping into new markets.
The inovabra hubs program is also responsible for the international inovabra, inaugurated back in 2018 and structured in an environment of innovation in New York with connections in London, and it is a radar in the innovation ecosystem and global entrepreneurship. The employees work in partnership with a specialized company and international banks. The goal is to identify solutions that add value to the Organization’s business and monitor trends in new business, technological and behavioral trends. In a continuous process, startups, fintechs and new business opportunities are evaluated by international inovabra and tested via the inovabra lab and/or inovabra hubs.
A proprietary equity fund that was released in 2016, currently with assets of R$ 850 million, for strategic investments in startups and high-growth companies that feature innovative technologies and/or business models. Led by the Private Equity & Venture Capital area, it actively plays a role in generating value for companies and expanding the entrepreneurial environment, especially when it involves solutions that fulfill the needs of Bradesco Group’s clients. So far, investments have been made in 14 startups. Taking companies into account that have already been divested, our FIP inovabra (Equity Investment Fund) has invested approximately R$ 366 MM as of 2021.
A multidisciplinary staff with analysts and researchers who foster the Bradesco Organization’s innovation process, knowledge about emerging technologies and trends in the market, as well as proposing applicable ideas that lead to innovative investments. In constant interaction with partners, universities and research institutes in Brazil and abroad, the team supports and drives Bradesco through its expertise, proposals for new business models and the development of pilots and experiments with emerging technologies targeting the problem/opportunity. Furthermore, applying synergy between business and technology, the team promotes and supports innovative portfolio decisions. Responsible for conducting research on new business models, plus experimentation/pilots on emerging technologies like Artificial Intelligence, Blockchain, DeFi (Decentralized Finance), CBDCs and Cryptoeconomics, IoT, Quantum Computing, and others, along with their impacts and applications on services and financial products.
Unveiled at the end of 2017, inovabra lab is a 1,700 m2 facility located at the Bradesco Center in Alphaville (SP), which hosts 16 laboratories in the technology and is designed to operate in a cooperative work model with major technology partners that reside in that area. The model creates gains in operational efficiency, optimizing and reducing the certification periods for new technologies by up to 60% (hardware and software); prototyping; experimentation; proof of concept; and launches and solutions for new challenges.
In addition, it provides ideal conditions for connecting business areas with IT areas, thereby drawing the Organization closer to the emerging technologies.
This large-scale laboratory also conducts experiments between Bradesco and startups that may have applicable solutions or could be applied in financial and non-financial services that could potentially be offered or used by our Organization through the inovabra startup program.
In February of 2018, we opened the inovabra habitat, an over 22,000 m2 building located in the economic, innovation and cultural heart of the city of São Paulo – between Avenida Angelica and Rua da Consolação, near Avenida Paulista. It’s an area where major companies, startups, investors and mentors work collaboratively to co-innovate and generate business. The space includes startups and major companies, all working cooperatively to innovate.
In addition to fostering the world of entrepreneurship in Brazil and the culture of innovation in organizations, inovabra habitat tends to contribute with the country in the search for a position of greater prominence in the global innovation scenario. Since September 2020, the operational model of inovabra habitat has also expanded to digital. The new format, which complements the physical one, can accommodate startups and companies from all over the country that wish to have access to open innovation. The inovabra digital platform hub also conducts searches and connections with other startups from various regions of Brazil in order to access business opportunities with Bradesco and the Bank’s partner companies. In addition to those allocated in our physical space, the inovabra habitat has established partnerships with other innovation centers to help connect the business demands of Bradesco and the large companies that have a relationship with the Bank with the innovative entrepreneurship distributed throughout various parts of the country.
Partners are selected based on their potential to connect entrepreneurs in their operational area within their various segments, in addition to qualifying their network in terms of human capital, technology and innovation. Centers with this profile receive the designation “inovabra Partners” and become part of Bradesco’s innovation ecosystem. Currently, there are 8 partner centers: ACATE, Porto Digital, Gyntec, Hospital do Amor, Hotmilk, Artemisia, Nexus and 100 Open Startups. The range of startup solutions exceeds 10,000 through these partnerships.
More details about inovabra and all its programs can be accessed on: www.inovabra.com.br (Portuguese only).
Ideation (ideação) is an in-house movement that aims to foster innovation and intrapreneurial habits, behaviors, and skills.
As the name suggests, Ideation is the combination of the words idea and action. It represents the type of attitude we want more from everyone: to have ideas and to look for ways to implement them.
This movement includes 4 pillars of action where initiatives are carried out, each with its objective, but that all work together.
There is the “Knowledge” pillar that represents building knowledge and adopting new skills and attitudes. Up to 2021, more than 150 hours of training were offered in this pillar to what we refer to as influencers. Influencers are representatives of the bank’s areas and act as catalysts for innovation in their departments, broadening the scope of the program. By 2021 we had 260 influencers from over 50 areas of the bank.
In the “Connect” pillar, there were actions to train the intrapreneurial fabric of the Organization. Through community events and activities, we connect all influencers so that knowledge, cases, and experiences are shared. We also leverage the strength of more than 200 people in favor of an increasingly innovative culture.
In the “Communicate” pillar, we have grouped all the actions that generate repertoire for not only the community of influencers but for the bank as a whole. Up to now, there have been more than 50 Ideation Talks, an event where we invite market experts along with employees and our executives to discuss innovation themes that are relevant to our Organization, including Cryptoeconomics, Open Finance, Super Apps, and much more.
This pillar also features specialized publications from our research team and a newsletter that now reaches 15,000 employees.
Finally, there is the “Management System”. This includes all the measurements of culture and ideation actions that range from the engagement of influencers and consumption of our content to the creation of opportunities and cases of innovation through the movement.
The movement has fundamental support from Unibrad (Human Resources division) and the Marketing department. One important asset is inovabra habitat, which is the vast epicenter of the culture of innovation, collaboration, and collective intelligence that has one of the main channels with startups, corporations, and other stakeholders in the innovation ecosystem through Ideation. The program completed 2 years in March 2022.
ideação in 2021:
- 260 innovation influencers that act as evangelists of the topic in their areas, which covers 84% of the areas of the bank;
- 2,860 active members on our collaboration platform;
- 150+ hours of training offered;
- 15,000 ideation newsletter subscribers;
- 52 Ideation Talks, an event that offers relevant content weekly and adds repertoire for our people. In all, there have already been 28,600 views of our content;
- Ideation Reload – A 3-day event that introduced themes related to innovation with a positive impact, culture, and ESG and which, in the end, included a Hackathon to spur on the development of solutions.
- Efma Innovation for February – M-Token Case
- Valor Inovação Award 2020:
- 1st place – Bradesco in the Banking sector
- 9th place in the ranking for 2020
- World’s Best Financial Innovation Labs 2020 – Case: inovabra habitat
- Whow! Award for Innovation 2020:
- Bradesco – 3rd place in the bank category
- Ágora Platform for investments – 3rd place
- Efma Innovation for May – Speech Analytics Case – Central
- The Best of Dinheiro 2020 – Bradesco 2nd place in the bank category
- Corporate Startup Stars Awards – Bradesco – inovabra
- TOP 100 Open Corps – Bradesco – inovabra
- Empresas mais 2020 – Bradesco 2nd place in the financial services sector – commercial banks
- 16th Banking Report Award:
- Operational efficiency – case: 365° Office Project;
- Financial Inclusion – case: Marketplace Bradesco
- Financial Innovation Personality 2020 – Fernando Moraes de Freitas
- BAI Global Innovation Awards 2020 – MEI Portal Case, in the category of products and services for small companies.
- World’s Best Banking Awards 2021 – Bradesco was ranked among the Best Banks in the World by Global Finance in Latin America in 2021, taking Global Finance’s top honor at home (BRAZIL) award.
- World’s Best Financial Innovation Labs – inovabra habitat and inovabra lab are among the World’s Best Financial Innovation Labs, as published in the fourth annual World’s Best Financial Innovation Labs report by Global Finance magazine.
- Fast Company’s 2021 Best Workplaces for Innovators – Bradesco has been recognized by Fast Company as one of the best places for innovators to work.
- Innovation in Digital Banking Awards – Bradesco was voted the most innovative bank in Latin America for the 2nd consecutive year in Banker Magazine’s August issue.
- TOP 100 Open Corps 2021 – Bradesco received the nod in the TOP 100 Open Corps as one of the banks that most undertake open innovation projects with startups in the country. Bradesco ranked 11th in the Top 20 Open Corps and 2nd in the Top 5 Financial Services.
- Valor Inovação Award 2021 – In the 7th annual Valor Inovação Brasil 2021 Award, Bradesco took 1st place in the Banking sector and ranked 34th in 2021.
- 100+ innovators in the use of IT – Sponsored by IT Mídia, Bradesco was the winner in the Banks category in the 21st edition of the award.
- Top Ecosystems – In the Top Ecossistemas award, sponsored by 100 Open Startups, inovabra habitat ranked 6th as an ecosystem agent, counting with the highest number of startups ranked.
- Corporate Startup Stars Awards 2021 – Banco Bradesco was among the 25 “Open Innovation Challengers” companies for the second consecutive year.