Interested parties can still submit their proposals for analysis.
The Participation Investment Fund (FIP) “Inovação Paulista”, conceived by Desenvolvimento SP – Agência de Desenvolvimento Paulista, has already invested around R$ 39 million in twelve companies, an amount equivalent to 37% of the R$ 105 million that will still be invested in business of high impact in the State of São Paulo. The numbers refer to the first assessment of the fund that has sought startups and small and medium-sized companies from São Paulo linked to the segments of nanotechnology, life sciences, agricultural technologies, information and communication technologies with a corporate focus, sectors considered to be innovation drivers.
In addition to having the support and resources of Desenvolvimento SP, the fund also has Finep, Fapesp, Sebrae-SP, Banco Desenvolvimento da América Latina and Jive Investments as investors. “We are confident in the contributions already made by the São Paulo Innovation Fund. They are essentially innovative companies that, in a very short time, have already begun to conquer new markets, boosting the competitiveness and economy of the State of São Paulo”, says Milton Luiz de Melo Santos, president of Desenvolvimento SP.
Among the 12 companies already invested in, five are directly linked to the agribusiness market, offering everything from innovative biological solutions for controlling pests in crops to the development of technologies for intelligent monitoring of the various field activities. Technology businesses focused on solutions for managing financial systems and human health are also part of the fund's portfolio.
Entrepreneurs need to hurry in submitting proposals
According to Francisco Jardim, founding partner of SP Ventures, manager of the FIP, the initial forecast is that up to 20 companies with high innovative potential will be selected for investment, however, he explains that the numbers can be revised for up to 18 companies, considering the current economic moment. However, the fund still has resources.
According to the schedule, the rest of the funds must be contributed by December 2017. However, entrepreneurs with businesses that meet the FIP profile and still wish to submit a proposal to SP Ventures need to hurry. “It is possible that in the first half of 2017 the fund's portfolio will be complete, with all companies to be invested already approved”, says Jardim. Proposals must be sent via the website www.spenvetures.com.br.
According to the fund's investment strategy, 80% of the committed assets must be invested in companies with annual gross revenues of up to R$ 3.6 million, including startups in the initial stage of operation and, the others, 20% in companies with annual gross revenues of up to R$ 18 million. The divestment phase of the FIP is expected to take place between 2018 and 2021.
In addition to having the support and resources of Desenvolvimento SP, the fund also has Finep, Fapesp, Sebrae-SP, Banco Desenvolvimento da América Latina and Jive Investments as investors. “We are confident in the contributions already made by the São Paulo Innovation Fund. They are essentially innovative companies that, in a very short time, have already begun to conquer new markets, boosting the competitiveness and economy of the State of São Paulo”, says Milton Luiz de Melo Santos, president of Desenvolvimento SP.
Among the 12 companies already invested in, five are directly linked to the agribusiness market, offering everything from innovative biological solutions for controlling pests in crops to the development of technologies for intelligent monitoring of the various field activities. Technology businesses focused on solutions for managing financial systems and human health are also part of the fund's portfolio.
Entrepreneurs need to hurry in submitting proposals
According to Francisco Jardim, founding partner of SP Ventures, manager of the FIP, the initial forecast is that up to 20 companies with high innovative potential will be selected for investment, however, he explains that the numbers can be revised for up to 18 companies, considering the current economic moment. However, the fund still has resources.
According to the schedule, the rest of the funds must be contributed by December 2017. However, entrepreneurs with businesses that meet the FIP profile and still wish to submit a proposal to SP Ventures need to hurry. “It is possible that in the first half of 2017 the fund's portfolio will be complete, with all companies to be invested already approved”, says Jardim. Proposals must be sent via the website www.spenvetures.com.br.
According to the fund's investment strategy, 80% of the committed assets must be invested in companies with annual gross revenues of up to R$ 3.6 million, including startups in the initial stage of operation and, the others, 20% in companies with annual gross revenues of up to R$ 18 million. The divestment phase of the FIP is expected to take place between 2018 and 2021.
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