Congratulations to Marcelo Faria, the winner of our annual Smart Bets Pitch Competition. Marcelo's team at Instituto Liberal de São Paulo has won a $50,000 prize for its project "Liberdade para Trabalhar" (Freedom to Work) which aims to bring greater economic freedom and access to communities across Brazil, particularly residents of favelas.

The Liberdade para Trabalhar project has already improved the lives of tens of millions of Brazilians by cutting unnecessary red tape at the state and local level. Through this second phase of their project, they plan to impact 120 million people, or 60% of the country's population. In addition, their "Um CEP para Todos" (A ZIP Code for All) initiative will improve the lives of the poorest individuals living in slums who lack a formal address.