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Osasco manages a quarter of the country's unicorns and sediments its 'Oz Valley'

Osasco manages a quarter of the country's unicorns and sediments its 'Oz Valley'.
Osasco manages a quarter of the country's unicorns and sediments its 'Oz Valley'.
01/04/2022
Osasco, a city next to the capital of São Paulo, became a barn for unicorns. Of the 34 startups that reached a market value of over US$ 1 billion in Latin America – 22 of them headquartered in Brazil, six are in the municipality: Mercado Livre, Uber, iFood, Rappi, 99 and Facily – the latter admitted to the billionaire club at the end from 2021. In other words, the city is home to about a quarter of unicorns in Brazil and approximately 20% of Latin Americans. But for the Secretary of Housing, Pedro Sotero, there is no magic in this version of Oz, a nickname that the city has adopted.

In order to develop its "Oz Valley" – a name given in allusion to Silicon Valley, where new economy companies emerged –, in the second half of the last decade, the city began a remodelling of its tax structure to make it oriented towards innovation. Sotero, at the time responsible for the municipality's finances and at the head of the process, says that Osasco invested in creating his system, capable of condensing the issuance of invoices, avoiding double taxation of the ISS and also the issuance of a "mirror note", to avoid companies that carry out many transactions for the same customer per month from having to bear their costs by issuing several bills.

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