Finep has just launched the third notice of the Finep Startup Program. The program is going into its fifth round of investments, as each call for proposals has two rounds. The program aims to leverage technology-based companies in the final stage of product development or that need to gain production scale, with proven commercial viability. The total resource cap for this round is R$ 30 million for 25 startups. the period for submission of proposals It is open until the 15th of March.
For the president of Finep, General Waldemar Barroso, “more than ever, the promotion of entrepreneurship in Brazil is crucial. Our program encourages the consolidation of companies as startups. This makes us proud and motivates us.”
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In this public notice, the investment amount of the funder may reach up to R$ 1.2 million in each of the selected companies, an increase of 20% in relation to the maximum investment of the previous editions. To compete, startups need to have a prototype MVP (Minimum Viable Product, in Portuguese, Minimum Viable Product), proof of concept or, preferably, already making their first sales. Thus, proposals in the idea or research phase do not fit.
"In addition to the increase in funding, the public notice brings another novelty. In this edition, priority themes associated with solutions to society's problems will be distinguished, in line with the guidelines of the MCTIC - ministry to which Finep is linked", explains the Financial Director, from Credit and Funding by Finep, Adriano Lattarulo Priority themes of the third notice of Finep Startup: Autism, ADHD, Attention Deficit, Bioeconomy, Smart Cities for Needy Communities, Dissemination of Science in Schools, Fires and Deforestation, Droughts and Droughts, Safety Public and Private and Virtual and Augmented Reality for Healthtech.
Another novelty in this public call is the partnership with the Rota 2030 Program. The startups that submit proposals adhering to the program – Automotive Sector, Agricultural Machines and Self-propelled Highways, will be able to receive an investment of up to R$2.2 million, thanks to the technical cooperation signed with the Route 2030 Program.
In addition to the priority themes and those linked to the Rota 2030 Program, the following strategic themes will also be eligible for investment through the Finep Startup public notice: Agritech, Animal Health and Foodtech; Biotechnology; Smart and Sustainable Cities; Defense; Circular Economy; Edutech; Renewable Energy and Energy Efficiency; Healthtech; Industry 4.0 (Advanced Manufacturing; Internet of Things (IoT); 5G; Advanced Materials and Nanotechnology.
optimization
To date, the program has attracted a total of 1,686 proposals with a capital demand of R$ 1.6 billion, with over R$ 70 million of which is private investment. Currently, Finep has 15 invested startups and 19 startups under contract, totaling up to R$ 40 million in investments.
“Despite the great impact and reach that the program has in the startup ecosystem, we have been working to optimize internal processes and make the program increasingly adherent to the needs of startups, either by investing adequate amounts to the capital needs of the innovations we support, either through the construction of more agile analysis and contracting processes, as will already be seen in this public notice”, says the superintendent of Finep's Entrepreneurship and Investment Area, Raphael Braga.
public-private investment
Finep, however, does not intend to make Brazilian startups dependent on public resources. Therefore, it created a pioneering mechanism to encourage entrepreneurs to seek private investment: priority will be given to companies that are contributed by angel investors. The process will work as follows: the startup that signs up for the public notice with a letter of commitment from an angel investor will earn points in the selection. The amount of points obtained will depend on the value of the private investment, whose minimum value is R$ 50 thousand. With the minimum contribution to your business, the bidder guarantees 1 point, reaching a maximum of 5 points. In all, there are 20 possible points: 15 from the assessment of the startup's value proposition and 5 obtained if it receives private investments of R$ 250 thousand or more.
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