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| Brazilian Innovation Agency (FINEP) | |
|---|---|
| Name | Brazilian Innovation Agency (FINEP) |
| Native name | Financiadora de Estudos e Projetos |
| Formed | 1967 |
| Headquarters | Rio de Janeiro, Brazil |
| Jurisdiction | Federal Republic of Brazil |
| Parent agency | Ministry of Science, Technology and Innovation |
Brazilian Innovation Agency (FINEP) The Brazilian Innovation Agency (FINEP) is a federal public agency established to finance and promote technological development and innovation across Brazil's industrial and scientific sectors. Founded in 1967 during the administration of Artur da Costa e Silva, FINEP has supported projects linking Universidade de São Paulo, Fundação Getulio Vargas, and research institutions such as the Instituto Nacional de Pesquisas Espaciais and the Fundação Oswaldo Cruz. It operates alongside bodies like the BNDES, the Ministry of Science, Technology and Innovation (Brazil), and the National Council for Scientific and Technological Development.
FINEP was created amid broader policy shifts epitomized by the 1960s industrialization policies that involved actors including Ministry of Finance (Brazil), BNDES, and presidential administrations such as Juscelino Kubitschek's developmentalist legacy. Throughout the 1970s and 1980s FINEP interacted with universities like Universidade Federal do Rio de Janeiro and research centers such as the Brazilian Center for Research in Energy and Materials to fund projects in sectors exemplified by companies like Embraer and Petrobras. During the 1990s and 2000s FINEP worked with policy frameworks associated with the Plano Real and collaborated with ministries including the Ministry of Science, Technology and Innovation (Brazil) and entities such as the National Institute of Industrial Property. In the 2010s FINEP helped implement programs linked to initiatives promoted by administrations including Luiz Inácio Lula da Silva and Dilma Rousseff, coordinating with multilateral organizations such as the World Bank and the Inter-American Development Bank.
FINEP’s mission aligns with statutory goals similar to those of the Science Without Borders initiative and strategic plans from institutions like the Brazilian Academy of Sciences. Its functions include financing technological research involving partners such as Universidade Estadual de Campinas, supporting startups comparable to ventures accelerated by Sebrae, and promoting innovation in industries represented by Vale (company) and Embraco. FINEP administers credit lines, grants and equity investments that complement instruments from entities such as FINEP's peer agencies like the European Investment Bank and national counterparts including National Innovation Agency (Portugal).
FINEP operates multiple instruments used by actors like Fiocruz, CPqD, and corporations including Gerdau and Natura (company). Programs have included grant schemes analogous to the Horizon 2020 framework, concessional loans resembling offerings by the Asian Development Bank, and equity through funds comparable to those managed by SoftBank Vision Fund and Sequoia Capital. Notable instruments have supported sectors involving companies such as Siemens and General Electric, university consortia including Consórcio de Universidades Paulistas, and municipal innovation ecosystems like those in São Paulo and Belo Horizonte.
FINEP’s internal configuration includes boards and divisions that coordinate with ministries and regulatory bodies like the Tribunal de Contas da União and the Central Bank of Brazil. Leadership historically reported to ministers from cabinets including those of José Serra and Aloizio Mercadante, while operational units liaised with research institutes similar to Instituto Butantan and laboratories tied to Embrapa. The agency’s governance features advisory councils akin to those used by institutions such as the Brazilian Development Bank and consultative forums frequented by representatives from Confederação Nacional da Indústria.
FINEP has financed projects that influenced companies like Embraer in aerospace programs and Petrobras in technological modernization, and supported academic consortia from Universidade Federal de Minas Gerais and Pontifícia Universidade Católica do Rio de Janeiro. Initiatives have targeted sectors of strategic importance to Brazil such as bioeconomy efforts tied to Embrapa, renewable energy projects comparable to those developed with Itaipu Binacional, and digital transformation programs similar to campaigns led by Serpro. Collaborations have involved multinationals including ABB and research collaborations with entities like the European Organization for Nuclear Research.
FINEP has engaged in international cooperation with organizations such as the World Bank, the Inter-American Development Bank, the European Investment Bank, and bilateral partners including the United States Agency for International Development and the Agence française de développement. Academic partnerships have connected Brazilian universities such as Universidade de Brasília and Universidade Federal do Rio Grande do Sul with foreign institutions like Massachusetts Institute of Technology, Imperial College London, and École Polytechnique Fédérale de Lausanne. Industry collaborations included memoranda with corporations such as Siemens and Boeing and participated in multinational consortia similar to those in the International Energy Agency.
FINEP has faced scrutiny from oversight bodies including the Tribunal de Contas da União and political debates in the National Congress of Brazil regarding the allocation of funds to projects involving companies like Odebrecht or public research institutions such as Fiocruz. Critics cited concerns comparable to those raised during discussions about public financing at entities like the World Bank and questioned transparency akin to controversies involving other development banks. Reforms proposed by lawmakers and technocrats related to audit practices and accountability mirrored debates in agencies such as the Brazilian Development Bank and triggered reviews by prosecutors in forums like the Public Ministry of Brazil.
Category:Research funding agencies