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Faberj, the Rio de Janeiro state research institution in Brazil, is investing 10mn reais (US$6mn) to support technological innovation, the organization said in a statement.
Micro and small enterprises, cooperatives, individual inventors and entrepreneurs in Rio can apply for grants of up to 400,000 reais. Faberj intends to prioritize proposals for new products and services or improvements upon existing offerings.
The funds will be available to various sectors, including energy, agribusiness, health, insurance, transportation and telecommunications.
The application process extends through March, with the final announcement of awards scheduled for May.