Brazil’s First Offer of Funds for Research Gets Inundated by Requests

An unprecedented scheme launched by Brazil’s Science and Technology Ministry on September 6 to fund innovation activities has received an overwhelming response from companies seeking to benefit from it.

As many as 900 companies filed 1,075 proposals to the ministry by the closing date of October 24 –  representing US$ 866 million (1.87 billion reais) worth of funding requests.

This is more than six times the size of the fund available –  US$ 139 million for a period of three years.

"It was a very good surprise. As a new support mechanism with a short time to receive proposals, we didn’t expect the scheme to receive so many projects," said Odilon Marcuzzo, president of FINEP (the Studies and Projects Fund) which is responsible for the scheme.

It is Brazil’s first public tender to companies offering support for research and development of innovative products and processes. The successful applications will be announced next month.

Proposals must be related to HIV/AIDS, hepatitis, semiconductors and software, nanotechnology, biotechnology, biomass or renewable energy, or the aerospace sector.

In line with the 2004 Brazilian innovation law companies will have to cover a proportion of a project’s costs, which varies according to company revenue.

For instance companies with a gross revenue under US$ 1.1 million must provide 5% of a project’s total cost. Those with a revenue exceeding US$ 27 million will have to provide between 50 and 60 per cent of the costs.

Of all the proposals submitted, more than half were from software and semiconductor companies. Surprisingly, small and medium companies  –  with less than U$ 5 million in gross revenue –  accounted for 84.2% of the projects.

This is noteworthy, Marcuzzo said, as the ministry expected most applications to come from large companies, which are thought to be more involved in research activities.

"It can be used as a good justification for us to request more money to the program," he said.

Brazil launched two other schemes to boost innovation activities in companies earlier this year.

The first earmarked US$ 70 million for small and medium companies associated with regional partners. The second, launched this month, will assign US$ 28 million to subsidize researchers’ salaries in companies.

SciDev.Net – www.scidev.net

Tags:

You May Also Like

Brazil Reduces Long Term Interest Rates from 9% to 8.15%

The President of Brazil Central Bank, Henrique Meirelles, admitted, this Friday, March 31, that ...

Brazil and Portugal Cement Business Bonds

In Portugal, one of the major goals of the Brazilian mission commanded by Vice-President ...

In Brazil, Alcohol Is the Main Cause of Crime

National anti-drug policy is being debated in regional forums with various sectors of Brazil’s ...

After Meeting London Mayor Lula Keeps Mum About Brazilian Killed as Terrorist

Brazilian President Luiz Inácio Lula da Silva met London Mayor Ken Livingstone at Buckingham ...

Sugar Cane fields forever in Brazil

While the American Dream Is Outsourced Brazil Drives the World into the Future

Never in the history of the world have we had an economic revolution similar ...

Brazil’s Lula Wants Urgent ‘Democratization’ of the UN

Brazilian President Luiz Inácio Lula da Silva said that the participation of developing countries ...

Brazil Talks Agriculture Even Before WTO Meeting Starts

The quest for free trade with just rules will be center stage for the ...

Russia Wants Joint Ventures with Brazil in Space and Defense

Currently on a Latin American tour to expand alliances and business opportunities, the president ...

Less than 3% of Brazil’s 180,000 Public Schools Have a Computer

Approximately 100 parliamentarians of over 20 countries participated this Monday, June 6, in the ...

Best-seller Books, Plays and Movies

By Brazzil Magazine Alice Através do Espelho (Alice Through the Looking Glass)—Based on Lewis ...