Innovation Support Program is the new set of investments Brazilian IT will get

R$500 million (about US$280 million) are to be invested in untaxed incentives for the private section of all markets to improve IT development and research. This means that companies willing to develop technologies for:

• Information Technology
• Nanotechnology / Biotechnology
• Health
• Defence
• Social Development
• Renewable Energy
• Electric Car

The President and the Ministry responsible have also agreed on further R$100 million (about US$60 million) for the Brazilian companies to improve preparation of plans and projects for Innovation Management.

These public resources will be managed by the Financier of Studies and Projects (FINEP), are part of the Productive Development Policy (PDP) and count with the partnership of the National Confederation of Industry (CNI), the Brazilian Service of Support to Micro and Small Enterprises (Sebrae), the National Development Bank (BNDES) and the Ministry of Development, Industry and Foreign Trade (MDIC).