Brasília – This Wednesday (29th), the Brazilian federal government published the notice of Programa Inova Agro, which targets the agriculture and agroindustry sectors. With an initial budget of R$ 1 billion, the program was designed to boost the productivity and competitiveness of Brazilian agribusiness through technological innovation. The program’s contracts will span 2013 and 2014.
Inova Agro funding may reach R$ 3 billion, to be provided by the Studies and Projects Funding Body (Finep) and the Brazilian Development Bank (BNDES). Business plans are required to have a minimum value of R$ 10 million, to be implemented in up to 60 months. Projects must be 100% Brazilian-developed.
The program will support companies in developing production chains to manufacture agricultural inputs, including agrochemicals, genetic improvement of animals and plants, and animal health-related technologies. Examples include genetic improvement of fish, phytosanitary products for pest control, diseases and weeds, fertilizers, medication and vaccines for animal health.
The program will also include support to development of products and processes in the food industry, and machinery and equipment development for agriculture and product processing, including traceability, new storage technologies, and logistics. Sugarcane crops are not included because they are already covered by program Inova Energia.
Brazilian companies interested in agribusiness-related products and services production and sales are eligible.
The Inova Agro program is a part of Inova Empresa, launched last March to increase international competitiveness through technological innovation and increased productivity. In 2013 and 2014, R$ 32.9 billion will be spent on incentives to companies in the industrial, agricultural, and services sectors.
*Translated by Gabriel Pomerancblum
