Seven out of 10 high school
students in Brazil have an insufficient level of Portuguese and mathematics,
according to the Brazilian Ministry of Education. Brazilian students scored
below the average of the Organization for Economic Cooperation and Development
countries in reading, mathematics, and science. Forty-three percent of students
scored below the minimum level of proficiency in all three subjects, the 2018
PISA report indicates. The lack of access to quality education is a reality
that hinders Brazil's future.
Faced with this serious social problem, lawyer Danilo Costa decided to seek a solution. A grandson of teachers and a son of journalists, the young man knows the importance of education for better opportunities in life. Thus, his start-up Educbank was born.
Costa's approach is to expand access to quality education by injecting capital into schools. With this investment, educational institutions improve the education of their students. Its creator explains, "Educbank is the first Latin American institution dedicated to providing capital and financial support to children's and elementary schools." For this venture, Costa deserved to be among the Innovators under 35 Latin America 2022 of MIT Technology Review in Spanish.
This fintech company guarantees full tuition collection, even if there are non-payments, and provides lines of capital and means of payment without interfering in the operation of schools or charging families. In a previous educational venture, Costa realized that it was the lack of capital available to schools in Brazil that was preventing them from improving the level of their teaching. With Educbank, the young Brazilian seeks to ensure that no school is left behind by giving them economic stability. "No democracy has been consolidated without access to quality education," the innovator stresses.
With more than 100 schools supported with external capital in Brazil, the lawyer aspires to expand the lines of investment to provide more services to educational centers and expand his model to more Latin American countries. Costa's example can serve as an example for other entrepreneurs to invest in the private education sector. With Educbank's support, more students see the quality of their studies improved by guaranteeing financial security for their institution.
