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Startup projects to receive R $ 100 million from BNDES

Investment

Co-investment fund to boost innovation and entrepreneurship in Brazil

he entrepreneurship and innovation sector will gain an extra boost by the end of the year. The National Economic and Social Development Bank (BNDES) launched a public call on Tuesday to support startup projects in the areas of agribusiness, biotechnology, technology, creative economy, health and communication.

The selected ones will have access, over ten years, to R $ 100 million of the Coinvestment Angel Fund. The Fund will also be supported by accelerating companies, which drive startups and investors' proposals.

In addition to developing potential, startups must have a net income of up to R $ 1.6 million to participate. The Fund may apply up to R $ 5 million to assist in the development of projects and products.

Source: Government of Brazil, with BNDES information