Finep to provide US$32mn in funding for incubator, tech park expansion

- Friday, April 8, 2011

Finep to provide US$32mn in funding for incubator, tech park expansion

Brazilian government investment agency Finep has awarded 26 projects totaling 50mn reais (US$31.7mn) in two calls launched under the national PNI program to support business incubators and tech parks, Finep announced.

There were 12 projects approved for technology parks, which will receive a total of 40mn reais in grants. An additional 14 proposals were accepted for incubators, with 10mn reais in funding.

For the tech parks, financing was given only to IT parks currently under construction, or to existing facilities that will be expanded to include more projects. The funds may be invested in capex such as infrastructure, facilities, construction of new buildings or purchase of equipment, or in human resources and consumables.

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Finep received 26 proposals from tech parks, with a total request of 164mn reais in funding. Of the 12 selected, four parks are located in the south, five in the southeast and one each in the northeast, north and midwest.

Use this link to see the list of approved tech parks.

Meanwhile, Finep received 15 proposals for incubators for a total of 26mn reais in funding. Of the 14 selected, there were four each in the southeast and south, and two each in the northeast, north and midwest.