ANNOUNCED AS TEMPORARYYes
On April 11, 2013, the Brazilian National Development Bank (BNDES), Funding Authority for Studies and Projects (FINEP) and the Brazilian Ministry of Health (Ministerio de Saude) announced a new program that incentivizes R&D in the public health sector. Under the INOVA Health program, Brazilian public health companies can apply for subsidised financing for their R&D projects. This program defines companies that produce medical equipment, high tech health goods and public health goods that provide services to Brazilians to fit under INOVA Health program. The total funds available for INOVA Health in the form of state loans are R$ 550 million (USD 270 million).
Only companies that are based in Brazil may apply for these benefits and the financed projects must be undertaken on Brazilian territory. Companies wishing to apply must have revenues of over R$5 million or partner with a technological company which passes this revenue requirement. The interested companies must receive approval by the BNDES and FINEP in order to benefit from the program. The BNDES, FINEP and the Brazilian Ministry of Health may finance up to 90% of the project's 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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