First publishedon www.ITSInternational.com
Transportation Technologies (HyperloopTT) has opened a global innovation centre in Minas Gerais, Brazil, with the intention of creating an ecosystem to help solve global challenges in logistics.
Called XO Square, the 43,000 sq/ft facility will house the company’s logistic research division, a fabrication lab and an ecosystem of global companies, startups, universities, innovators, scientists and governments.
XO Square is supported by the government of the State of Minas Gerais, the State of Minas Gerais Research Foundation, the Federation of Industries of the State of Minas Gerais and the Municipality of Contagem.
This agreement was secured through a public-private partnership with its first phase valued approximately $7.85m (£5.5m). The investment includes contributions from HyperloopTT, the Secretariat of Economic Development, Science, Technology and Higher Education (SEDECTES).
Miguel Corrêa, state secretary of SEDECTES, said: "The government of Minas Gerais works towards promoting the State's innovation and entrepreneurship scenario, encouraging young people to become involved in research and technology. Our objective is to connect large companies and startups, generating businesses and smart solutions for different areas. Knowing that Minas Gerais will host HyperloopTT's research center, means that we are contributing with the State's economic growth throughout different paths, such as science, technology and innovation. This choice strengthens and boosts credibility for the actions being developed by the government.”