BNDES INNOVATION SUPPORT. Luciano Coutinho

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1 BNDES INNOVATION SUPPORT Luciano Coutinho Financing Sustainable Development and Innovation Center for Strategic Studies and Management in Science, Technology and Innovation (CGEE) Luciano Coutinho President of BNDES

2 Innovation: Definition An innovation is the implementation of a new or significantly improved product (good or service), or process, a new marketing method, or a new organisational method in business practices, workplace organisation or external relations. (Oslo Manual 3ª Version)

3 BNDES Innovation Policy Objective: to promote and support operations related to capacitybuilding and the development of innovative environments, in order to generate economic or social value and improve competitive positioning of organizations, contributing to the creation of better quality jobs, the increase of production efficiency, environmental Guidelines sustainability and sustainable growth of the country. To be present in all sectors of the economy To operate as a complement for other institutions within the Brazilian Innovation System To blend fixed and variable-income instruments

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5 BNDES priority: Innovation Policy and instruments to support all companies BNDES INNOVATION FIXED / VARIABLE INCOME PROSOFT, PROFARMA, PROTVD, PROPLASTICO, PRO-Aeronautical, PRO- Engineering, BNDES O&G SECTORIAL PRODUCTS BNDES Card BNDES AUTOMATIC EQUITY Closed and Open Mutual Funds Direct Participation (stake in the company) Criatec Program (Seed Money) NON-REIMBURSABLE INVESTMENT FUNTEC Technological Fund Projects, including Research, development and innovation in areas of national interest 5

6 BNDES Innovation Company Innovation Strategies Innovation Investment Plan (IIP) Objective: to support innovative efforts that aims to increase competitiveness and that are aligned with the strategy and outlined in companies Innovation Investment Plans. It includes product, process or marketing innovations and the investments to improve the competences and technical knowledge in the country. Eligible Items: physical infrastructure + tangible and intangible assets Direct Operation: financing and/or capitalization Minimum Amount: R$ 1 million Participation: up to 90% Term of loan: up to 12 years Guarantees: defined during analysis 6

7 BNDES Automatic Objective: to provide financing, through Accredited Financial Institutions, for implementation, expansion, recovery and modernization of fixed assets, as well as projects in Research, Development and Innovation, in the sectors of industry, commerce and agribusiness. Direct or indirect operation There is no minimum value Maximum amount: R$ 20 million It is divided into financing lines, with specific goals and financial conditions. Participation: up to 90% of eligible items Term of loan: defined by the Accredited Financial Institution

8 Criatec Objective: to capitalize innovative micro and small companies with seed capital and offer them appropriate management support Criatec I: R$ 100 million (80% BNDESPar) end of investment period Criatec II: minimum of R$ 170 million (80% BNDESPar) manager selection period Criatec III: public contest coming Duration: 10 years (first four: investment period) Investment Policy Companies with maximum net turnover of R$ 10 million At least 25% of porfolio made of companies with net turnover under R$ 2.5 million Maximum investment per company: R$ 2.5 million Sectors under focus: IT, Biotechnology, New Materials, Nanotechnology, Agribusiness, among others.

9 FUNTEC Technological Fund Objective: to financially support projects that aim to encourage technological development and innovation of strategic interest to the country, in accordance with the federal government s programs and public policies. Direct and non-reimbursable investment Projects of a scientific or technological nature Beneficiaries: Technological Institutes and With the involvement of companies Support Institutions Participation: up to 90% The BNDES constantly receives requests, which are then assessed by the CCTEC in three different meetings throughout the year. Main areas 2013: Energy, Environment, Electronic, New Materials, Chemical, Electric Vehicle.

10 BNDES Card Based on the concept of a credit card, it aims to finance investments in MSMEs in a fast and simplified fashion. In the case of innovation, the process is to be financed, not the projects. Services are provided by accredited suppliers. Limit up to R$ 1 million by issuing bank Fixed installments within 48 months Revolving and pre-approved credit Accredited Suppliers Automatic use Small and Mediumsized Enterprises 10

11 Evolution of Disbursements - Innovation USD Millions 2, ,679 1, Transfers to Finep

12 Final Remarks Promoting innovation is a priority of Public Policies in Brazil Different government agencies have been engaged in the effort to increase the country s innovation capacity BNDES has worked to provide a wide range if financial instruments Financing and capitalization Support for companies of all sizes and of all sectors Private Sector mobilization MOST IMPORTANT STEP: ACCELERATE THE CONSOLIDATION OF A SUSTAINABLE CULTURE OF INNOVATION

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