CPqD investing in entrepreneurship to create spin-offs

Thursday, August 25, 2011

Brazilian IT and telecom R&D firm CPqD intends to boost entrepreneurship and create spin-off enterprises through a new initiative in its "Inovar é Mais Negócio" innovation project, the company said in a statement.

The goal is to attract risk capital for developing new products, business and markets. "We want to stimulate entrepreneurship and leverage new enterprises, which will then have the mission of implementing innovative ideas generated within CPqD," company president Hélio Graciosa said.

In its 35th anniversary, CPqD wants to replicate cases like Padtec - a fiber optic networks solutions provider that was conceived in CPqD's enterprise incubator. Padtec arose from the association between CPqD and IdeiasNet.

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Actions to be taken within "Inovar é Mais Negócio" include a workshop for all CPqD employees, with a focus on entrepreneurship and innovation, and seminars aimed to attract venture capital fund managers.

During these seminars, Graciosa said, the ideas with the highest market potential will have business plans developed. In December, the detailed plans will then be presented to investment funds.