(Pulso Social) The Brazilian Ministry of Science, Technology and Innovation and FINEP have revealed a major funding initiative to back technology centers in Brazil. They will dedicate US$280 million (R$640 million) to the country’s technology parks, including those that already exist as well as those that are in construction. Moreover, the initiative will support the businesses housed in the establishments.
This comes as part of the federal government’s program to support tech parks and incubators – a plan aimed at driving economy productivity by way of technology-based projects and work.
Funds will be doled out through three separate mechanisms, as outlined by Startupi:
vAn initial US$40 million (R$90 million) in non-refundable resources will go to the support of technology parks that are already operating or being built. Proposals to receive funding will be accepted from July 29th to August 17th.
Second, US$220 million (R$500 million) will be offered to technology parks in credit. The application process will follow the guidelines of the Inova Brasil initiative.
Lastly, a US$22 million (R$50 million) investment fund – Fundo Inova Empresa MPE – will be formed. It will back businesses supported by incubators and technology parks as well as those that have graduated from such entities over the last two years.
Anprotec President Francilene Procópio Garcia reflected on the potential impact of the initiative:
The flexibility of the composition of this program, including non-refundable resources, credit and investment, is what we need to take a significant leap in the innovation environment that is promoted by technological parks.
Glauco Arbix, President of FINEP, added:
This call is another initiative to increase the quantity and level of companies that innovate and their partnerships with science and technology institutions. This is the only way to penetrate top technology sectors and elevate the quality and relevance of innovation projects in Brazil.