Brasília – A new incentive program to innovation in Brazilian companies, Inova Brasil, starts operating this year. Developed by the Studies and Projects Funding Body (Finep), under the Ministry of Science and Technology, the program is turned to companies of all sizes and should operate with fixed and subsidised interest rates, ranging from 4.25% to 5.25% a year, in its financing contracts.
According to information disclosed by the Finep, the rates are offered according to the guidelines of the new industrial policy, which divided the sectors of the economy in three great axes: mobilizing programs in strategic areas, programs to conciliate and expand leadership, and programs to strengthen competitiveness.
One of the main targets of the Inova Brasil is to contribute to greater research and development activities in the country. "This product is a US$ 430,000 to US$ 43 million line of credit that companies may ask for and pay for in up to 100 months," explained the Innovation director at Finep, Eduardo Costa, in an interview to program Revista Brasil, on Rádio Nacional.
Costa believes that the program should have a very positive impact on companies. "We promoted a large study last year about the difficulty companies faced to find credit for innovation and we established a new product that supplies all needs," he pointed out.
"Many people associate innovation to the company technology sector. It is also there, but innovation is mainly transformation of knowledge in to new services and new products," he added. The director recalled that, apart from technological innovation, there is market innovation. "[Airline] Gol, for example, was an innovative company when it established its business model eight years ago. The company used the same aircraft as all other companies, but started operating in a market in which people were not used to flying at the time."
According to Eduardo Costa, companies must necessarily be innovative. "Currently, companies that do not have innovation of any kind are overtaken by others. If there is no change, they end up leaving the market."
*Translated by Mark Ament
