Brazilian project, research financier Finep outlines new programs, seeks more funds

Brazilian project, research financier Finep outlines new programs, seeks more funds

Brazil’s project and research financing entity Finep, linked to the country's science, technology and innovation ministry (MCTI), has at least three programs in the pipeline to fund innovation while it scrambles to unfreeze key resources for its operations.

The most important of these programs is Tecnova 3, first announced in November last year, which has a total 472mn reais (US$90mn) earmarked for various initiatives. The program, in its third edition, is aimed at micro and small companies 

“For this year, we've secured Tecnova 3. We're optimistic about this program. It's in the budget, we've already made a call for research foundations and we already have some expressions of interest,” Marcelo Camargo, Finep's head of applied research and development, told BNamericas.

Of the program's total budget, 360mn reais is from non-reimbursable resources from the national fund for scientific and technological development, FNDCT, which is still pending clearance. 

The funds will be allocated in partnership with the Brazilian states’ research companies, which will be responsible for selecting companies. The program plans to finance around 500 companies with grants of 250,000-400,000 reais. 

The companies supported will be responsible for contributing funds equivalent to 5% of the amount received, according to Finep.


In addition to Tecnova 3, Finep this year intends to launch the Centelha 2 program, ready to begin operating in 2024, said Camargo. Centelha is tailored more for early-stage projects and entrepreneurial initiatives.

The funds are not fully guaranteed, though. The executive said that it will still be necessary to "make room in the federal budget" for this initiative.

A third program, Inovadoc, is still in the design phase. It is aimed at doctoral students developing solutions in the minimum viable product (MVP) stage, that is, with readied prototypes. 

The objective, according to Camargo, is to progress these products from the university environment and into the market.

“About 70% of researchers in Brazil are 'encapsulated' in universities, in the academic environment. Only 20-30% are absorbed by companies. It's fantastic that we have this academic profusion, but what really produces and makes things move forward is the market,” Camargo said.


Looking ahead, Finep is working on a program for the development of tech parks. Camargo also said that the agency aims to launch a call for open laboratories in the near future under the open innovation model and based on the aforementioned academia-private sector integration mindset.

Finep is also outlining a program to foster the creation of advanced technology centers (Cates, in Portuguese). Unlike the tech parks, these would be dedicated to thematic areas. Among the first areas seen as priorities for Camargo are nanotechnology and renewable energies.


For all of this to become viable, more funds are needed and, in addition to unlocking FNDCT, Finep is betting on parliamentary amendments. 

The agency has assembled a team to improve dialogue with congress and to enable the allocation of other sources of money via amendments, said Camargo. Dialogue with the MCTI ministry, to which Finep is subordinated, is also essential.

“The minister is arriving, learning about the initiatives, programs. She asked us for a presentation on the tech parks and Cates projects, expressed interest and expressed support. She's a person who's very sensitive to science, technology and innovation,” said Camargo when asked about Finep's relationship with minister Luciana Santos.

Nonetheless, some appointments for key operational positions at Finep are still pending, he said. “We've already lost three months. We can't delay it any longer," he said.

Subscribe to the leading business intelligence platform in Latin America with different tools for Providers, Contractors, Operators, Government, Legal, Financial and Insurance industries.

Subscribe to Latin America’s most trusted business intelligence platform.

Other projects in: ICT

Get critical information about thousands of ICT projects in Latin America: what stages they're in, capex, related companies, contacts and more.

Other companies in: ICT (Brazil)

Get critical information about thousands of ICT companies in Latin America: their projects, contacts, shareholders, related news and more.

  • Company: Ligga Telecomunicações S.A.  (Ligga Telecom)
  • Ligga Telecom, formerly Copel Telecom, is a subsidiary of Companhia Paraenense de Energia and offers telecommunications and communications services. During 2015, the firm served...
  • Company: Tim S.A.  (TIM Brasil)
  • TIM S.A. is a Brazilian telecommunication provider offering mobile and fixed telephony services, access to the Internet via modems, tablets, and mobile phones (3G and 4G), as we...
  • Company: Next Level Telecom Ltda.  (NLT Telecom)
  • The description included in this profile was taken directly from an official source and has not been modified or edited by BNamericas’ content team. However, it may have been au...