ANNOUNCED AS TEMPORARYYes
On December 5, 2013, the Brazilian National Development Bank (BNDES) and the Funding Authority for Studies and Projects (FINEP) announced a new program that incentivizes R&D for sustainable and energy efficient goods. Under the INOVA Sustainability program, Brazilian companies who specialise in mitigating pollution, energy conservation and promote sustainable biomes can apply for subsidised financing for their R&D projects. This program defines companies that produce energy efficient processing systems, charcoal, goods that do lower emissions, reduces pollution, tropical wood, helps recover Brazilian biomes, goods that help recycle waste and products that help monitor natural disasters to fit under INOVA Sustainability’s program. The total funds available for INOVA Sustainability are R$ 2 billion (USD 850 million).
Only companies that are based in Brazil may apply for these benefits and the financed projects must be undertaken on Brazilian territory. Companies who wish to apply must have revenues of over R$ 16 million or partner with a technological company which passes this revenue requirement. Furthermore, projects that apply for financing must be worth at least R$ 5 million. and maximum financing will be of R$ 30 million. The interested companies must receive approval by the BNDES and the FINEP in order to benefit from the program. The BNDES and FINEP may finance up to 90% of the projects' total cost.
The Brazilian government, alongside with the Brazilian National Development Bank (BNDES) and the Funding Authority for Studies and Projects (FINEP), run and finance the program "INOVA firms". Originally launched in 2013, this program's main goal is to innovate new technologies and make Brazilian companies more competitive. The program achieves this by targeting new sectors through time and giving their companies temporal benefits by 1) financing R&D, 2) financing companies directly as shareholders, or 3) providing loans at subsidised interest rates. Involved governmental entities may also guarantee future demand for their goods in some cases. Sectoral programs are launched at the discretion of BNDES and last for a predetermined period of time where companies may apply.
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