The Brazilian government has allocated a very high budget to encourage innovation

By using total stimulus budget of 16.6 billion dollars for the years 2013 and 2014 under the plan titled “Inova Empresa”, the Brazilian government has shown that it aims to increase the efficiency and competition of the industry by innovation. $ 11.9 billion of the budget will be available for the benefit of the companies of various sizes from the 7 strategic sectors. These sectors are; health, agriculture, energy, oil and gas, defense, information and communication technology, as well as environmental sustainability.

 

The health care stimulus has specifically focused on oncology, biotechnology and medical device. The government's pro-active approach to date in the pharmaceutical and healthcare sector, increased patients' access to the drugs and strengthened the domestic industry. With the new stimulus program support will be provided to both domestic and foreign to develop innovative strategies.

 

The introductory meeting of the plan was organized by the Brazilian President Dilma Rousseff and the Science, Technology and Innovation Minister Marco Antonio Raupp. The research proposed in the plan will be provided by the development and innovation (R & D) incentives, economic subsidies to the companies, supporting the collaboration between the firms and the research institutions, providing support in the form of partnership loans to technology companies, credits with the interest rate of 2.5-5% per annum.

 

The priority for the government policy is: private loans, low tax rates, and to strengthen the domestic industry by technology transfer agreements with multi-national companies. In 2012, Science, Technology and Innovation Ministry spent 5% of the total budget (8.3 million dollars) in health and biotechnology sectors. The government is also has been working on the legislation that will lead to a strengthening of the domestic companies in order to provide cost-effectiveness of disease treatment and reduce dependency on imported goods

 

19.04.2013