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Startups and SMEs will have access to credit lines with zero interest and terms of up to 10 years
The Government of the State of São Paulo launched this Wednesday (28) the Zero Innovation Program, which will subsidize, with resources of R$ 8 million from the State Fund for Scientific and Technological Development (Funcet), interest on credit lines for innovation of the Paulista Development Agency (Develop SP). The initiative, unprecedented in the country, aims to increase the competitiveness of the State, offering even better conditions in the financing of projects with high innovative potential for startups and small and medium-sized companies (SMEs).
Initially, only companies that have already completed the PIPE – Innovative Research in Small Businesses Program, from the São Paulo Research Foundation (FAPESP) will be able to apply for funding through the Interest Innovation Program. It is estimated that 192 companies will be able to present their projects to Desenvolvimento SP, which can be financed up to 100%.
“Right now, we want to leverage mature projects, already validated for their innovative potential, and which need special financing conditions to take off in the market”, says Alvaro Sedlacek, president of Desenvolvimento SP. Also according to the executive, the initiative enables ways for the academic knowledge produced in the State to be transformed into concrete and disruptive products and services. “With financing conditions even more accessible, we are offering another tool for innovative companies to develop their full potential”.
For Carlos Américo Pacheco, director-president of FAPESP's Technical-Administrative Council, the Juro Zero Inovação Program will be an important complement to the effort that the State of São Paulo has been making to support innovative companies. “Through FAPESP's PIPE, we have already supported more than 1,500 innovative companies, but this public lacked access to long-term credit with really affordable conditions. We are sure that the Program will be a success and will guarantee that companies reach the market with new solutions and can grow, which is our main objective”, he says.
How it works
The Juro Zero Inovação Program will subsidize two lines of credit already made available by Desenvolvimento SP in the State of São Paulo. They are: Technology Incentive Line, for companies with annual revenues between R$ 360 thousand and R$ 300 million; and Finep's Inovacred Line, for companies with annual revenues of up to R$ 90 million.
With specific conditions and criteria, the credit lines can finance innovation projects that range from the introduction of new products, services and processes in the market, including the purchase of machinery and equipment, to the improvement of existing technologies, organizational innovations and Of marketing.
The loan repayment period can be up to 10 years, including a grace period of up to 2 years. Zero interest will be granted to companies that keep their financing installments paid up to date. In the event of default, the interest charged may vary from 0.33% to 0.56% am (+ SELIC) per installment in arrears. Entrepreneurs with difficulties in presenting real guarantees for taking out credit may also contract with the financing the Guarantee Funds offered by Desenvolvimento SP.
how to apply
Eligible companies will be able to submit their projects for analysis of economic feasibility and classification of the credit line on the Desenvolvimento SP website through the Banking Office “Requests Online”. When creating a login and password, entrepreneurs must fill in the necessary registration information, as well as attach all documentation required by the financial institution. For more information, interested parties can call 11 3123-0464 or send an email to atendimento@developmentesp.com.br.
Check the credit lines on the Desenvolvimento SP website (www.developmentesp.com.br).
Initially, only companies that have already completed the PIPE – Innovative Research in Small Businesses Program, from the São Paulo Research Foundation (FAPESP) will be able to apply for funding through the Interest Innovation Program. It is estimated that 192 companies will be able to present their projects to Desenvolvimento SP, which can be financed up to 100%.
“Right now, we want to leverage mature projects, already validated for their innovative potential, and which need special financing conditions to take off in the market”, says Alvaro Sedlacek, president of Desenvolvimento SP. Also according to the executive, the initiative enables ways for the academic knowledge produced in the State to be transformed into concrete and disruptive products and services. “With financing conditions even more accessible, we are offering another tool for innovative companies to develop their full potential”.
For Carlos Américo Pacheco, director-president of FAPESP's Technical-Administrative Council, the Juro Zero Inovação Program will be an important complement to the effort that the State of São Paulo has been making to support innovative companies. “Through FAPESP's PIPE, we have already supported more than 1,500 innovative companies, but this public lacked access to long-term credit with really affordable conditions. We are sure that the Program will be a success and will guarantee that companies reach the market with new solutions and can grow, which is our main objective”, he says.
How it works
The Juro Zero Inovação Program will subsidize two lines of credit already made available by Desenvolvimento SP in the State of São Paulo. They are: Technology Incentive Line, for companies with annual revenues between R$ 360 thousand and R$ 300 million; and Finep's Inovacred Line, for companies with annual revenues of up to R$ 90 million.
With specific conditions and criteria, the credit lines can finance innovation projects that range from the introduction of new products, services and processes in the market, including the purchase of machinery and equipment, to the improvement of existing technologies, organizational innovations and Of marketing.
The loan repayment period can be up to 10 years, including a grace period of up to 2 years. Zero interest will be granted to companies that keep their financing installments paid up to date. In the event of default, the interest charged may vary from 0.33% to 0.56% am (+ SELIC) per installment in arrears. Entrepreneurs with difficulties in presenting real guarantees for taking out credit may also contract with the financing the Guarantee Funds offered by Desenvolvimento SP.
how to apply
Eligible companies will be able to submit their projects for analysis of economic feasibility and classification of the credit line on the Desenvolvimento SP website through the Banking Office “Requests Online”. When creating a login and password, entrepreneurs must fill in the necessary registration information, as well as attach all documentation required by the financial institution. For more information, interested parties can call 11 3123-0464 or send an email to atendimento@developmentesp.com.br.
Check the credit lines on the Desenvolvimento SP website (www.developmentesp.com.br).
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