On Tuesday, the founders of XP, Stone, and Nubank launched the B55 Institute in Brazil, a nonprofit initiative aimed at assisting small and medium-sized enterprises (SMEs) that are struggling to grow. The institute will offer a variety of courses and training programs, and it is designed to create a networking space for entrepreneurs. In addition to training, the B55 Institute will also provide financial support to businesses and startups with a proven operational history, addressing a significant issue faced by many SMEs in the region.

Founders Guilherme Benchimol (XP), André Street (Stone), and David Vélez (Nubank) are expected to actively participate in mentoring, lectures, and workshops as part of the initiative. They are joined by notable business leaders such as Jorge Paulo Lemann (3G Capital), Renata Vichi (Kopenhagen), and Alexandre Birman and David Feffer (Suzano), who will also contribute to the training activities. This collaborative effort seeks to leverage the expertise of successful entrepreneurs to foster the growth of smaller enterprises that form the backbone of the Brazilian economy.

The day-to-day operations of the B55 Institute will be led by Cristhiano Faé, a seasoned entrepreneur and co-founder of the organization. With a background in engineering and experience founding various successful companies, Faé's leadership is expected to ensure that the initiatives align well with the practical needs of SMEs. As Brazil continues to face economic challenges, such initiatives are crucial in providing the necessary resources and guidance for SMEs to thrive and contribute to economic recovery.