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Please see a short outline of the work of the FINEP organisation (courtesy of Márcia Telles, Communications Director) who are a publicly owned company under Brazilian the Ministry of Science Technology and that promotes social and economic development by fostering innovation in public companies, universities and technological institutes other public or private institutions in the country.  Such organisations have long played an important role in the growth of the country and, as Brazil’s economic activity continues to develop and improve, we believe are well worth investors being aware of.

Built in 1967, FINEP has more than three decades of operations and has funded thousands of successful initiatives, including the assisting the work of Embrapa (Brazil’s agricultural research organisation); projects for oil exploration and development of the Embraer Tucano aircraft.  The essential aim of the organisation is to provide refundable and non-refundable public and private loans throughout Brazil.  Below are some of the major programs FINEP offer:

Innovate Brazil (‘Inova Brasil’) – a program aimed at incentivising innovation within Brazilian companies including the provision of grants for research projects and reduced fees;

Zero Interest (‘Juro Zero’) – enabling companies to borrow at considerably lower rates that what is offered on the money markets in Brazil without the demand of collateral.  Such loans are usually prioritised for activities in the industrial, technological and foreign trade sectors;

Zero Interest Rate Program (‘Programa Juro Zero’) – with interest-free loans and payment divided into one hundred (100) parcels, the program offers unique conditions for financaziing micro and small innovative enterprises (BPE) with annual sales of up to $ 10.5 million.

Seed Capital (‘Subvenção Econômica’) – an investment programme largely focused in the creation of technological based companies as well assisting in their initial growth;

Innovation Incubator Fund (‘Incubadora de Fundos Inovar’) – supporting the creation of venture capital funds aimed at innovative business models with the aim of producing the rising stars of the future;

Economic Subsidy (‘Subvenção Econômica’) – financial support in the form of grants awarded upon solid business plans which have instilled innovatory objectives;

Prime – an economic subsidy that supports enterprises for up to two years to develop set business objectives.  After this period awardees may apply for a zero interest rate programme.