Financiadora de Estudos e Projetos — FINEP (Research and Projects Financing), also known as the Brazilian Innovation Agency, is a publicly owned company subordinated to the Ministry of Science and Technology — MCT. It was founded on July 24, 1967 with the purpose of financing scientific and technological research and graduate courses in Brazilian universities and research institutions, as well as research and development in companies. In 1971, FINEP became the Executive Secretary of the newly created Fundo Nacional de Desenvolvimento Científico e Tecnológico — FNDCT (Funding for Scientific and Technological Development).
Since its foundation, FINEP has had a double role: it provides grants to non-profitable institutions, such as universities and research centers, and it lends money to companies. FINEP has encouraged intense mobilization in scientific and business circles, funding the implementation of new research groups, the creation of specific programs, the growth of science and technology infrastructure, and the institutional consolidation of post-graduate activities. It has also stimulated the increase in supply and demand for technology, by mobilizing universities, research centers, consulting firms and contractors of services, products, and processes.
In recent years, FNDCT was reinvigorated with new sources of funds from the so-called Science and Technology Sectorial Funds. The ability to finance the entire Science, Technology, and Innovation – S, T&I system – by combining reimbursable and nonreimbursable funds, as well as fiscal incentives, has afforded FINEP a great capacity for inducing activities aimed at developing this field, essential in increasing Brazilian manufacturing industry’s competitive edge.
S&T initiatives by business in partnership with universities, economically very successful, are also associated to FINEP funding, such as: the development of the Tucano aircraft by Empresa Brasileira de Aeronáutica – Embraer (the Brazilian Aeronautics Company), the forerunner of the company’s aircraft as important items in the country’s list of exports; numerous projects by Empresa Brasileira de Pesquisa Agropecuária — Embrapa (the Brazilian Agriculture Research Corporation), essential for the technological development of the Brazilian agricultural and cattle raising system, currently one of the most competitive in the world; Petrobras (the Brazilian Oil Company) projects, responsible for contributing towards mastering technology for deep-water oil exploitation, which has put the country on the way of self-sufficiency in this field.
FINEP
Praia do Flamengo 200 – 13º andar
CEP 22210-030 - Rio de Janeiro - RJ
Phone (+5521) 2555-0555
Fax (+5521) 2555-0509
E-mail:mailto:seac@finep.gov.br
