ANNOUNCEMENT 14 Mar 2013
In March 2013 several Brazilian government agencies launched the program INOVA Firms. This program may finance or subsidise R&D of targeted sectors at lower interest rates.
NUMBER OF INTERVENTIONS
Brazilian Government's Website, (Portal Brasil), Indústria nacional ganha plano de incentivo à inovação e competitividade
The Funding Authority for Studies and Projects' Interest Rates, Taxas de juros oferecidas pela Financiadora de Estudos e Projetos,
On March 13, 2013, the Brazilian government, alongside with the Brazilian National Development Bank (BNDES) and the Funding Authority for Studies and Projects (FINEP), launched and financed the program INOVA Firms. This program's main goal is to innovate new technologies and make Brazilian companies more competitive. Based on this announcement, sectoral programs will be launched at the discretion of BNDES and last for a predetermined period of time where companies may apply.
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.
Only companies who are based in Brazil may apply for these benefits and the financed projects must be undertaken on Brazilian territory. The BNDES and FINEP may finance up to 90% of the eligible program's costs.