2 years ago I was looking into the VC culture here in Brazil but all I kept hearing was that investors were looking for "Local Innovation" which is a pretty way of saying "Just clone sucessful US startups" and that the only risk they would take would be that making sure something like Groupon worked in our local market.

Did that change at all? If I'm looking to create the next crazy idea my only option is to either rellocate or bootstrap.

I'm a developer with lots of ideas living in São Paulo. How can I take advantage of this hub? I have zero experience in business and not that many contacts...