(2011), "Brazil innovates", International Journal of Productivity and Performance Management, Vol. 60 No. 6. https://doi.org/10.1108/ijppm.2011.07960faa.007
Emerald Group Publishing Limited
Copyright © 2011, Emerald Group Publishing Limited
Article Type: News From: International Journal of Productivity and Performance Management, Volume 60, Issue 6
Brazil’s determination to boost the innovation and productivity of local companies is being realized by the Financing Agency for Studies and Projects (FINEP), which helps fund the research and development of new enterprises in the country.
Glauco Arbix is the president of FINEP and says … ”It is difficult to find an agency like ours in the world. FINEP’s range of activities is very large. The three legs of our activities are repayable loans, non-refundable loans (for universities), and economic subsidy for companies.”
According to the Organization for Economic Cooperation and Development (OECD), Brazil is the country that invests the most in research and development among Latin American countries, accounting for 1.28 percent of its GDP, followed by Chile with 0.7 percent, Argentina 0.5 percent, and Mexico 0.37 percent.
Associated with the Ministry of Science and Technology and with an annual budget of 4.2 billion reais (about 2.5 billion dollars), FINEP provides funds for scientific and technological development, from research and development for large companies to local innovation systems.