$28 million for small companies to invest in technological innovation

The Brazilian Service to Support Micro and Small Enterprises (Sebrae) will invest R$28 million (around US$18 million) on businesses with less than R$2.4 million yearly turnover interested in developing technological innovation for themselves. The 17 thousand companies to receive this investment should focus on technological capability, increased productivity and competitiveness, corrections in work patterns, improvement in product quality and cost reduction. The announcement was made by Edson Ferman at the Local Agents of Innovation (ALI) conference last week (22 June 2010).